Result of AGM

RNS Number : 6277W
Braemar Shipping Services PLC
19 August 2020
 

 

 

 

19 August 2020

 

BRAEMAR SHIPPING SERVICES PLC

("Braemar", the "Company" or the "Group")

Results of Annual General Meeting

 

Braemar Shipping Services Plc (LSE:BMS), a leading international provider of shipbroking, financial advisory, logistics and engineering services to the shipping and energy industries, is pleased to announce that each of the resolutions proposed at its Annual General Meeting (the "AGM") held earlier today were duly passed by means of a poll vote.

The poll results were as follows:


Resolution

Votes For

% For

Votes Against

% Against

Total Votes

% of ISC voted

Votes Withheld

1

Receipt of the audited annual accounts and reports

8,189,856

99.80

16,465

0.20

8,206,321

25.88

1,152,774

2

Receipt of the directors' remuneration report (other than the remuneration policy)

  5,179,104

66.00

2,668,132

34.00

7,847,236

24.75

1,511,859 

3

Approval of the directors' remuneration policy

7,623,464

97.50

195,386 

2.50

7,818,850

24.66

1,540,245 

4

Re-election of Jürgen Breuer as a director

7,725,090

98.33

131,436

1.67

7,856,526

24.78

1,502,569

5

Re-election of Stephen Kunzer as a director

7,830,283

99.67

26,243

0.33

7,856,526

24.78

1,502,569

6

Re-election of Ronald Series as a director

7,740,573

98.54

114,683

1.46

7,855,256

24.77

1,503,839

7

Re-election of Nicholas Stone as a director

7,744,573

98.59

110,683

1.41

7,855,256

24.77

1,503,839

8

Re-election of Lesley Watkins as a director

7,840,513

99.80

16,013

0.20

7,856,526

24.78

1,502,569

9

Re-appointment of BDO LLP as auditors

7,811,969

99.52

37,479

0.48

7,849,448

24.75

1,509,647

10

Authority to determine the auditor's remuneration

7,815,701

99.44

44,116

0.56

7,859,817

24.79

1,499,278

11

Authority to allot share capital

7,780,880

99.10

71,059

0.90

7,851,939

24.76

1,507,156

12

Authority to disapply pre-emption rights*

6,518,779

83.12

1,323,884

16.88

7,842,663

24.73

1,516,432

13

Authority to further disapply pre-emption rights*

6,420,452

81.86

1,422,287 

18.14

7,842,739

24.73

1,516,356 

14

Authority to purchase own shares*

7,760,840

98.71

101,646

1.29

7,862,486

24.80

1,496,609

15

Authority to call a general meeting (other than the Annual General Meeting) on 14 clear days' notice*

7,834,434

99.62

29,717

0.38

7,864,151

24.80

1,494,944

* indicates special resolutions requiring a 75% majority.

In accordance with the 2018 UK Corporate Governance Code, the Board notes that although Resolution 2 (Directors' remuneration report) passed with the requisite majority, it received 20% or more votes against the Board's recommendation.  The Board is working to identify and understand the reasons behind these votes and will look to engage with the Company's shareholders as appropriate in relation to the matter.

Please note that a vote withheld is not a vote under English law and is not counted in the calculation of the votes "for" and "against" a resolution.  The total voting rights that members were entitled to exercise at the AGM were 31,709,205.

For further information, contact:

Braemar Shipping Services Plc


Ron Series, Executive Chairman

Tel +44 (0) 20 3142 4100

Nick Stone, Finance Director


Peter Mason, Company Secretary


finnCap


Matt Goode/ James Thompson/ Kate Washington

Tel +44 (0) 20 7220 0500

Buchanan


Charles Ryland / Victoria Hayns / Stephanie Watson / Matilda Abraham

Tel +44 (0) 20 7466 5000

 

Notes to Editors:

 

About Braemar Shipping Services Plc

Braemar Shipping Services Plc is a leading international provider of shipbroking, financial advisory, logistics and engineering services principally to the shipping and energy industries.  Founded in 1972, Braemar employs approximately 530 people in 28 offices worldwide across its Shipbroking, Financial, Logistics and Engineering divisions.  

Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS.

For more information, including our investor presentation, visit www.braemar.com

 

 


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