Result of AGM

RNS Number : 5407Q

Van Elle Holdings PLC

12 September 2017

 

12 September 2017

Van Elle Holdings plc

("Van Elle" or the "Company")

Results of Annual General Meeting

Van Elle's 2017 Annual General Meeting ("AGM") was held at Eversheds Sutherland (International) LLP, One Wood Street, London, EC2V 7WS at 10am today. All resolutions proposed at the AGM were voted by way of a poll. The results of the poll for each resolution were as follows:

Resolution		For (votes)	For %2	Against (votes)	Against (%)2	Total votes validly cast	Withheld (votes)1
1	To receive the accounts of the Company for the year ended 30 April 2017.	59,115,007	100.00%	0	0.00%	59,115,007	0
2	To re-appoint BDO LLP as auditor	58,365,007	100.00%	0	0.00%	58,365,007	750,000
3	To authorise the Directors to determine the remuneration of the auditor	59,115,007	100.00%	0	0.00%	59,115,007	0
4	To approve the Directors' remuneration report in the form set out in the annual report of the Company for the year ended 30 April 2017	58,255,821	100.00%	1,500	0.00%	58,257,321	857,686
5	To declare a final dividend of 1.75p per ordinary share	59,115,007	100.00%	0	0.00%	59,115,007	0
6	To re-elect Adrian Barden as a Director	43,037,055	100.00%	0	0.00%	43,037,055	16,077,952
7	To re-elect Robin Williams as a Director	43,037,055	100.00%	0	0.00%	43,037,055	16,077,952
8	To re-elect Jon Fenton as a Director	43,037,055	72.80%	16,077,952	27.20%	59,115,007	0
9	To re-elect Paul Pearson as a Director	59,115,007	100.00%	0	0.00%	59,115,007	0
10	To authorise the Directors to allot shares and to grant rights to subscribe for or to convert any security into shares pursuant to Section 551 of the Companies Act 2006 and to allot equity securities by way of a rights issue	35,124,510	59.42%	23,990,497	40.58%	59,115,007	0
11	To authorise the Directors to allot equity securities pursuant to Section 570 of the Companies Act 2006 in connection with a rights issue and general disapplication	34,292,510	58.01%	24,822,497	41.99%	59,115,007	0
12	To authorise the Directors to allot equity securities pursuant to Section 570 of the Companies Act 2006 in connection with an acquisition or other capital investment	34,374,510	58.15%	24,740,497	41.85%	59,115,007	0

Notes:

1.   A "Vote withheld" is not a vote in law and is not counted in the proportion of votes "For" or "Against" any resolution, or "Total votes validly cast".

2.   Percentages are expressed as a percentage of total votes validly cast (and does not include votes withheld).

3.   The Notice of Annual General Meeting is available on the Company's website: www.van-elle.co.uk

Ordinary resolutions 1-10 were all duly passed. Resolutions 11 and 12, which were proposed as special resolutions requiring a 75% vote in favour of votes cast, were not passed. These resolutions relate to the Company's ability to issue new shares in certain circumstances, for example to fund acquisitions or other material capital investments. Whilst the Board is disappointed that these resolutions have not been passed, it will actively engage with the dissenting shareholders so as to determine at what point they should be‎ re-presented for approval.

Enquiries:

Van Elle Holdings plc	017 7358 0580
Jon Fenton, Chief Executive Officer
Paul Pearson, Chief Financial Officer
Instinctif Partners (Financial Public Relations)	020 7457 2020
Mark Garraway
James Gray
Rosie Driscoll
Peel Hunt LLP (Nominated Adviser and corporate broker)	020 7418 8900
Charles Batten
Mike Bell
Justin Jones

 

END

 

 

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