Result of AGM

Instem plc

28 June 2023

 

Instem plc
("Instem" or the "Company")

Result of AGM 

Instem (AIM: INS.L), a leading provider of IT solutions to the global life sciences market, announces that at its Annual General Meeting held yesterday, all resolutions were duly passed. The results of the proxy voting position received in advance of the meeting are reported below:

No.	Resolution	For	% For	Against	% Against	Withheld
01	Reports and Accounts	12,896,645	100.00	0	0.00	91,158
02	Directors' Remuneration	8,031,684	61.94	4,935,969	38.06	150
03	Re-elect Mary Ruth Dolson	12,967,803	100.00	0	0.00	0
04	Re-elect David Gare	12,326,198	99.98	2,574	0.02	639,031
05	Elect N J Goldsmith	12,967,291	100.00	512	0.00	0
06	Re-elect R A Bandali	12,965,229	99.98	2,574	0.02	0
07	Re-elect M F McGoun	10,506,032	83.31	2,105,240	16.69	356,531
08	Re-elect P J Reason	12,967,291	100.00	512	0.00	0
09	Re-appoint Auditors	9,726,703	78.24	2,705,696	21.76	535,404
10	Auditors Remuneration	12,967,803	100.00	0	0.00	0
11	Allot Shares	12,064,426	93.03	903,377	6.97	0
12	Allot Equity Securities	12,063,876	93.03	903,927	6.97	0
13	Make Market Purchases	12,967,253	100.00	550	0.00	0

Notes:

·    The full text of each of the resolutions is contained in the Notice of Annual General Meeting dated 2 June 2023, which is available on the Company's website at https://www.instem.com.

·    Proxy appointments which gave discretion to the Chairman of the AGM have been included in the "For" total for the appropriate resolution.

·    A "Withheld" vote is not a vote in law and is not counted in the calculation of the proportion of the votes cast "For" or "Against" a resolution.

·    The issued share capital of the Company as at 27 June 2023 was 22,889,433 ordinary shares of 10p each. No shares are held in treasury.

In compliance with the QCA Code, the Board notes the percentage of votes cast against Resolutions 2 and 9 to approve the Directors' Remuneration Report and the re-appointment of the Company's Auditors. The Board has already engaged in discussions with certain of its major shareholders and continues to maintain a healthy dialogue with its investors. The Company will publish on its website  in due course an explanation of any different action it plans on taking as a result of the vote.

For further information, please contact:

Instem plc	Via Walbrook
Phil Reason, CEO
Nigel Goldsmith, CFO
Singer Capital Markets (Nominated Adviser & Broker)	[phone]
Peter Steel Alex Bond Oliver Platts
Stifel Nicolaus Europe Limited (Joint Broker)	[phone]
Ben Maddison
Richard Short
Walbrook Financial PR	[phone]
Tom Cooper	[e-mail]
Nick Rome Joe Walker

 

END