Results of the Annual General Meeting

RNS Number : 4176Q

Ten Entertainment Group PLC

18 June 2020

 

18 June 2020

Ten Entertainment Group plc

(the "Company")

Results of the Annual General Meeting

ALL RESOLUTIONS PASSED

At the Company AGM held earlier today, the board is pleased to confirm all resolutions were duly passed by shareholders. The following table sets out a breakdown of voting results.

Full details of the poll results are set out below and will also be available on the Company's website www.tegplc.co.uk  

No	Resolution	Votes For	%	Votes Against	%	Total Votes Cast	% of ISC Voted	Votes Withheld	Independent Votes For	%
1	To receive the Directors' report and the accounts for the Company for the year ended 29 December 2019	60,629,167	99.99%	4,624	0.01%	60,633,791	88.71%	1,050,000
2	To approve the Directors' Remuneration Report	48,411,360	79.84%	12,222,431	20.16%	60,633,791	88.71%	1,050,000
3	To approve the Directors' Remuneration Policy	47,038,961	76.26%	14,644,830	23.74%	61,683,791	90.25%	-
4	To re-elect Nick Basing as a Director	43,027,056	77.87%	12,226,543	22.13%	55,253,599	80.84%	6,430,192
5	To elect Duncan Garrood as a Director	53,467,269	88.18%	7,166,522	11.82%	60,633,791	88.71%	1,050,000
6	To elect Antony Smith as a Director	53,471,244	88.19%	7,162,548	11.81%	60,633,792	88.71%	1,050,000
7	To re-elect Graham Blackwell as a Director	53,467,269	86.68%	8,216,522	13.32%	61,683,791	90.25%	-
8	To re-elect David Wild as a Director	57,391,682	94.65%	3,246,714	5.35%	60,638,396	88.72%	1,045,395	44,921,463	93.26%
9	To elect Adam Bellamy as a Director	58,138,759	95.88%	2,499,638	4.12%	60,638,397	88.72%	1,045,395	45,668,540	94.81%
10	To re-elect Christopher Mills as a Director	49,081,751	80.99%	11,519,803	19.01%	60,601,554	88.67%	1,082,237
11	To re-elect Julie Sneddon as a Director	59,583,772	98.26%	1,054,624	1.74%	60,638,396	88.72%	1,045,395	47,113,553	97.81%
12	To re-appoint PricewaterhouseCoopers LLP as auditors of the Company	61,679,462	100.00%	850	0.00%	61,680,312	90.25%	3,480
13	To authorise the Directors to fix the remuneration of the auditors	61,679,462	100.00%	850	0.00%	61,680,312	90.25%	3,480
14	To authorise the Directors to allot relevant securities in the capital of the Company up to an aggregate nominal amount of £227,500	61,615,706	99.89%	68,086	0.11%	61,683,792	90.25%	-
15	To authorise the Directors to disapply statutory pre ‐ emption rights up to a nominal amount of £68,250	51,916,108	84.17%	9,766,883	15.83%	61,682,991	90.25%	800
16	To authorise the Directors to disapply statutory pre ‐ emption rights up to an additional nominal amount of £68,250 in connection with an acquisition or specified capital investment	51,916,108	84.17%	9,766,883	15.83%	61,682,991	90.25%	800
17	To authorise the Company to make market purchases of its ordinary shares	58,197,565	94.35%	3,486,226	5.65%	61,683,791	90.25%	-
18	To authorise the Directors to call a general meeting other than an annual general meeting on not less than 14 clear days' notice	61,506,171	99.71%	177,621	0.29%	61,683,792	90.25%	-
19	To authorise the amendment to the Articles of Association	54,062,003	0.88%	7,617,508	12.35%	61,679,511	90.24%	4,280

Notes:

1.  Any proxy arrangement which gave discretion to the Chairman has been included in the "for" totals.

2.  A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares 'For' or 'Against' any resolution. In accordance with Listing Rule 9.2.2, the votes of the shareholders and the independent shareholders are set out separately in the above table.

3.  The number of shares in issue at 6.00pm on 15 June 2020 was 68,346,970 (the "Share Capital"). The Company does not hold any shares in treasury.

Resolution 2 and 3

The Board is pleased that the Directors' Remuneration Report and the Directors' Remuneration Policy were approved but notes the number of votes against these resolutions exceeded 20% in both cases. The Company will now undertake a full independent review of its remuneration policy and reporting overseen by the Remuneration Committee and will report on this later in the year.  Until a full review has been completed, and the business is fully reopened, the Board do not intend to award any LTIPs in respect of 2020.

Resolution 4

The re-election of Nick Basing received votes in favour of over 77%. As required by the Corporate Governance Code the Board thought very carefully about Nick's independence and specifically considered his tenure and previous roles in the Group and were satisfied that these have not compromised his independence in any way. This is laid out in detail in the Annual Report.

In accordance with Listing Rule 9.6.2, copies of resolutions passed at the Annual General Meeting concerning items other than ordinary business will shortly be available for inspection on the National Storage Mechanism which can be accessed at   https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Enquiries:

Ten Entertainment Group plc  via Instinctif Partners

Duncan Garrood, Chief Executive Officer

Antony Smith, Chief Financial Officer

Instinctif Partners  Tel: [phone]

Matthew Smallwood

Jack Devoy

 

END

 

 

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