Result of Annual General Meeting

RNS Number : 1633L

Franchise Brands PLC

28 April 2020

 

28 April 2020

FRANCHISE BRANDS PLC

("Franchise Brands", the "Company" or the "Group")

Result of  Annual General Meeting

Franchise Brands plc (AIM: FRAN), a multi-brand franchise business, is pleased to announce that at the Company's Annual General Meeting held earlier today, all resolutions were duly passed on a poll.

Accordingly, the 4,078,389 Second Placing Shares, as defined in the announcement at 12:44 on 21 April 2020, will be issued and are expected to be admitted to trading on AIM on 30 April 2020 ("Admission") to complete the Placing.

Further, the scrip dividend as announced on 30 March 2020 will proceed and shareholders have until noon on 26 May 2020 to elect for the scrip dividend instead of the cash dividend.

The Group is not providing an AGM Trading Update, as this was provided in the Proposed Placing announcement at 16:38 on 20 April 2020.

The proxy votes received from shareholders on each resolution are set out below:

	No. of votes for	%	No. of votes against	%	Total votes cast (excluding votes withheld)	No. of votes withheld
ORDINARY RESOLUTIONS
1.  To receive the 2019 report and financial statements	60,935,019	100.0%	-	0.0%	60,935,019	-
2.  Declaration of Final Dividend	60,935,019	100.0%	-	0.0%	60,935,019	-
3.  Offer of scrip dividend	60,929,424	100.0%	-	0.0%	60,929,424	5,595
4.  Re-election Robin Christian Bellhouse	60,931,019	100.0%	4,000	0.0%	60,935,019	-
5.  Re-election of Julia Rosalind Choudhary	60,929,736	100.0%	4,000	0.0%	60,933,736	1,283
6.  Re-election of John Christopher Stewart Dent	60,931,019	100.0%	4,000	0.0%	60,935,019
7.  Re-election of Timothy John Harris	60,931,019	100.0%	4,000	0.0%	60,935,019	-
8.  Re-election of Stephen Glen Hemsley	60,927,081	100.0%	4,000	0.0%	60,931,081	3,938
9.  Re-election of Peter John Molloy	60,931,019	100.0%	4,000	0.0%	60,935,019	-
10.  Re-election of David John Poutney	60,528,974	99.9%	46,045	0.1%	60,575,019	360,000
11.  Re-election of Colin David Rees	60,929,736	100.0%	4,000	0.0%	60,933,736	1,283
12.  Re-election of Nigel William Wray	60,927,081	100.0%	7,938	0.0%	60,935,019	-
13.  To reappoint BDO LLP as auditors of the Company	60,931,019	100.0%	4,000	0.0%	60,935,019	-
14.  Authority to determine remuneration of auditor	60,927,081	100.0%	7,938	0.0%	60,935,019	-
15.  Authority to allot shares	60,931,019	100.0%	4,000	0.0%	60,935,019	-
SPECIAL RESOLUTIONS
16.  Disapplication of pre-emption rights	57,716,874	94.7%	3,210,785	5.3%	60,935,019	7,360
17.  Disapplication of pre-emption rights (for an acquisition or other specified capital investment)	57,769,115	94.8%	3,160,309	5.2%	60,929,424	5,595
18.  Authority to purchase own shares	60,933,736	100.0%	1,283	0.0%	60,935,019	-

Enquiries:

Franchise Brands plc	+ 44 (0) 1625-813231
Stephen Hemsley, Executive Chairman
Chris Dent, Chief Financial Officer Julia Choudhury, Corporate Development Director
Allenby Capital Limited  (Nominated Adviser and Joint Broker)	[phone]
Jeremy Porter / Liz Kirchner / Nicholas Chambers
Dowgate Capital Limited  (Joint Broker)	[phone]
James Serjeant / Colin Climie
MHP Communications   (Financial PR)	[phone]
Katie Hunt	07884-494112 [e-mail]

About Franchise Brands plc

Franchise Brands is focused on building market-leading businesses in selected customer segments using primarily a franchise model. The Group currently has a combined network of over 450 franchisees across five franchise brands. Our focus is on established brands which can benefit from our shared support services, specialist sector expertise, management experience and group resources.

Franchise Brands' portfolio of market-leading service businesses grew in 2019 with the acquisition of Willow Pumps. The addition of Willow Pumps, a direct labour organisation, represented an important step in expanding Metro Rod and Metro Plumb's range of services to the commercial market.

The Group is organised into a B2B division comprised of Metro Rod, Metro Plumb and Willow Pumps, and a B2C division incorporates ChipsAway, Ovenclean and Barking Mad. This divisional organisation of our brands is designed to provide a greater focus and structure to support the strategic development of our B2B and B2C brands.

Each of our brands are leaders in their respective markets and each brand has a long trading history. The combined trading history of all the Group's brands is over 125 years.

Franchise Brands plc employs some 290 people across three principal locations in Macclesfield, Kidderminster and Aylesford.

For further information, visit www.franchisebrands.co.uk.

 

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