Result of AGM

Watchstone Group PLC

30 May 2023

 

Watchstone Group plc

("Watchstone" or the "Company")

RESULT OF ANNUAL GENERAL MEETING

Watchstone's 2023 AGM was held earlier today. The Company announces all resolutions proposed at the Annual General Meeting, were duly passed as follows:

Resolution	Votes for	%	Votes against	%	Votes total	% of ISC voted	Votes withheld
1	24,552,409	99.33	165,663	0.67	24,718,072	53.69%	2,409
2	24,713,769	99.97	6,287	0.03	24,720,056	53.69%	425
3	23,890,568	96.64	829,723	3.36	24,720,291	53.70%	190
4	24,685,161	96.64	829,749	3.36	25,514,910	55.42%	190
5	24,685,161	99.86	34,867	0.14	24,720,028	53.69%	453
6	24,528,279	99.22	192,192	0.78	24,720,471	53.70%	10

Further to the Company's announcement on 24 March 2023, Lord Howard (Senior Non-executive Director) and David Young (Non-executive Director) have now stepped down from Board and will not be replaced.

Richard Rose, Non-executive Chairman said: "It has been a great privilege to work closely with Lord Howard and David Young over these last few years as we have dealt with an extraordinarily complex array of operational, legal, regulatory and accounting matters. Their counsel and commitment have proved invaluable to me and the rest of the Board."

Watchstone can also confirm that following the recent dismissal of its claim against PricewaterhouseCoopers LLP ("PwC"), permission to appeal was rejected by the High Court and the Company will now apply to the Court of Appeal for permission to appeal. As is required by the Court, Watchstone will now proceed to pay the sum of £2.25 million on account for PwC's costs pending detailed assessment of full costs.

Watchstone Group plc	Tel: [phone]
WH Ireland Limited, Financial Adviser and Broker	Tel: [phone]
Chris Hardie James Bavister

 

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