Annual Meeting statement and result

RNS Number : 4546O

Quarto Group Inc

17 May 2018

 

17 May 2018

This announcement contains inside information for the purposes of the Market Abuse Regulation

The Quarto Group, Inc.

Annual Meeting statement and result

The Quarto Group, Inc. (LSE: QRT), the leading international illustrated book publisher, announces the result of its Annual Meeting held today at 10:00am. 

At the start of the meeting, Peter Read, Chairman, made the following statement:

"Trading in the first four months of the year are in line with the Board's expectations."

At the Annual Meeting, Resolutions 1, 2, 3 and 8, 10, 11, 12 and 13 as set out in the Notice of Meeting were approved by shareholders.

Resolutions 4 to 7 were not approved. As a result, the following four non-executive directors were not re-elected to the board: Peter Read, Leslie-Ann Reed, Jess Burley and Claire Capeci.

Resolution 9, that would have amended the Company's by-laws to provide that the number of directors of the Company shall not be less than two nor more than the number as may be fixed from time to time by resolution of the board of directors, was not approved.

Resolution 14, a special resolution, that would have granted power to the Directors to allot shares of the Company representing a maximum of 5% of the total issued shares of the Company on a non-pre-emptive basis, was not approved.

Four additional Resolutions (numbered 15 to 18 in the table of poll results below) were brought up for action (as permitted by and in accordance with the Company's by-laws) at the Annual Meeting by Mr Chuk Kin Lau, a shareholder of the Company, and approved by shareholders. As a result, Mr Chuk Kin Lau, Ms Mei Lan Lam, Dr Laurence Orbach and Mr Mick Mousley were appointed as directors.

Mr Chuk Kin Lau through his personal shareholdings and through Lion Rock Group Limited (which he controls), holds ordinary shares in the Company representing approximately 27% of the Company's issued share capital.

Ms Mei Lan Lam, is an executive director and CFO of Lion Rock Group Limited.

Dr Laurence Orbach is beneficially interested in ordinary shares in the Company, representing approximately 20% of the Company's issued share capital.

Mr Mick Mousley previously held the role of Chief Financial Officer at Quarto from 1987 to 2015.

All resolutions were voted on by shareholders by way of poll and the results were as follows:  

Poll Results
RESOLUTIONS	FOR	%age FOR	AGAINST	%age AGAINST	WITHHELD	TOTAL
1	14,328,471	99.98%	2,500	0.02%	8,900	14,339,871
2	14,322,371	99.98%	2,500	0.02%	15,000	14,339,871
3	14,334,371	99.98%	2,500	0.02%	3,000	14,339,871
4	4,059,684	28.31%	10,280,187	71.69%	0	14,339,871
5	4,044,684	28.21%	10,295,187	71.79%	0	14,339,871
6	3,145,847	21.94%	11,194,024	78.06%	0	14,339,871
7	3,157,847	22.02%	11,182,024	77.98%	0	14,339,871
8	14,319,371	99.88%	17,500	0.12%	3,000	14,339,871
9	4,058,684	29.47%	9,714,487	70.53%	566,700	14,339,871
10	14,328,471	99.92%	11,400	0.08%	0	14,339,871
11	14,328,471	99.92%	11,400	0.08%	0	14,339,871
12	9,594,781	66.91%	4,744,090	33.09%	1,000	14,339,871
13	9,597,781	66.94%	4,741,090	33.06%	1,000	14,339,871
14	7,322,085	51.09%	7,008,986	48.91%	8,800	14,339,871
15	11,009,157	100.00%	0	0.00%	0	11,009,157
16	11,009,157	100.00%	0	0.00%	0	11,009,157
17	10,103,320	91.77%	905,837	8.23%	0	11,009,157
18	10,103,320	91.77%	905,837	8.23%	0	11,009,157

For further information, please contact:

Instinctif Partners
Adrian Duffield/Chantal Woolcock	[phone]
The Quarto Group, Inc.
Marcus Leaver, CEO Carolyn Bresh, CFO	[phone] [phone]

About The Quarto Group

The Quarto Group (LSE: QRT) creates a wide variety of books and intellectual property products for global distribution, with a mission to inspire life's experiences. Produced in many formats for adults, children and the whole family, our products are visually appealing, information rich and kinesthetically stimulating.

The Group encompasses a diverse portfolio of imprints and businesses that are creatively independent and expert in developing long-lasting content across specific niches of interest.

Quarto sells its products globally in over 50 countries and 40 languages, through a variety of sales channels and partnerships, and five main routes to market - US, UK, International English language, Foreign language and other Partnerships.

Quarto employs c. 400 talented people in the US, UK and Hong Kong. The Group was founded in London in 1976. It is domiciled in the US and listed on the London Stock Exchange.

For more information, visit quarto.com or follow us on Twitter at @TheQuartoGroup.

 

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