Result of AGM

RNS Number : 6859F

Inspecs Group PLC

19 July 2021

 

19 July 2021

Inspecs Group plc

("Inspecs" the "Company" or "the Group")

Result of AGM

Inspecs Group plc, a leading designer, manufacturer and distributor of eyewear frames, announces that at the Annual General Meeting held earlier today, all resolutions were duly passed.

Resolution		For		Against		Withheld	Total votes cast
		Number of votes	%	Number of votes	%	Number of votes
1.	Ordinary resolution to receive and adopt the Company's annual accounts and reports	77,124,504	83.88%	14,820,434	16.12%	1,960,678	93,905,616
2.	Ordinary resolution to re-elect Lord MacLaurin as a director of the Company.	78,159,511	97.60%	1,921,749	2.40%	13,824,356	93,905,616
3.	Ordinary resolution to re-elect Robin Totterman as a director of the Company.	93,905,616	100.00%	0	0.00%	0	93,905,616
4.	Ordinary resolution to re-elect Christopher Kay as a director of the Company.	93,905,616	100.00%	0	0.00%	0	93,905,616
5.	Ordinary resolution to re-elect Christopher Hancock as a director of the Company.	71,500,121	80.91%	16,867,834	19.09%	5,537,661	93,905,616
6.	Ordinary resolution to re-elect Richard Peck as a director of the Company.	72,227,206	81.73%	16,140,749	18.27%	5,537,661	93,905,616
7.	Ordinary resolution to re-elect Angela Farrugia as a director of the Company.	87,939,607	97.36%	2,389,026	2.64%	3,576,983	93,905,616
8.	Ordinary resolution to re-appoint Ernst & Young LLP as the Company's auditors to hold office from the conclusion of this meeting until the conclusion of the next meeting, in accordance with normal practice.	93,178,531	99.23%	727,085	0.77%	0	93,905,616
9.	Ordinary resolution to authorise the directors to determine the remuneration of the auditors	93,178,531	99.23%	727,085	0.77%	0	93,905,616
10.	Ordinary resolution to enable the Company and each of its subsidiaries to make political donations and expenditure.	93,177,431	99.22%	728,185	0.78%	0	93,905,616
11.	Ordinary resolution to authorise the directors to allot ordinary shares in the Company up to a maximum nominal amount of £337,636.32 and up to a further maximum nominal amount of £337,636.32 where the allotment is in connection with an offer by way of a rights issue.	93,178,531	99.23%	727,085	0.77%	0	93,905,616
12.	Special resolution to enable the directors to allot, grant options over or otherwise dispose of equity securities for cash or sell treasury shares for cash up to a maximum aggregate nominal amount of £50,645.44 as if pre-emption rights did not apply to such allotment.	91,904,493	97.87%	2,001,123	2.13%	0	93,905,616
13.	Special Resolution to further disapply pre-emption rights in relation to acquisitions or other capital investments.	91,904,493	97.87%	2,001,123	2.13%	0	93,905,616
14.	Special resolution to authorise the Company to make market purchases of up to 10,129,089 ordinary shares (which represents approximately 10 per cent of the Company's ordinary shares (excluding treasury shares) in issue on 23 June 2021).	93,178,531	99.23%	727,085	0.77%	0	93,905,616

For further information please contact:

Inspecs Group plc Robin Totterman (CEO) Chris Kay (CFO)	via FTI Consulting Tel: [phone]
Peel Hunt (Nominated Adviser and Broker) Adrian Trimmings Andrew Clark	Tel: [phone]
FTI Consulting (Financial PR) Alex Beagley Fern Duncan Alice Newlyn	Tel: [phone]

About Inspecs Group plc

INSPECS is a Bath-based designer, manufacturer and distributor of eyewear frames and optically advanced spectacle lenses. The Group produces a broad range of frames and lenses, covering optical, sunglasses and safety, which are either "Branded" (either under licence or under the Group's own proprietary brands), or "OEM" (including private label on behalf of retail customers and un-branded).

In December 2020, INSPECS acquired Eschenbach Optik, a leading, global, eyewear supplier headquartered in Nuremberg, Germany, which includes the American company Tura. The acquisition extended the Group's presence internationally in key global markets. This followed the acquisition of lens maker Norville in July 2020, whereby INSPECS combined two heritage brands in British optical, Savile Row frame maker, and Norville lens maker, further enhancing its vertically integrated business model. As one of only a few companies that can offer this one-stop-shop solution to global retail chains, INSPECS is well positioned to continue to take market share in the globally expanding eyewear market.

INSPECS customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 70,000 points of sale.

INSPECS has operations across the globe: with offices in the UK, Portugal, Scandinavia, the US and China (Hong Kong, Macau and Shenzhen), and manufacturing facilities in Vietnam, China, the UK and Italy. With the acquisition of Eschenbach Optik, the Group's international reach further extends across Europe and the American markets.

The Group's growth strategy going forward is to: (i) continue to grow organically; (ii) undertake further acquisitions (and drive value through leveraging the Group's internal capabilities); and (iii) extend the Group's manufacturing capacity.

More information is available at: https://inspecs.com  

 

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