Result of AGM

RNS Number : 2084B

RA International Group PLC

08 June 2021

 

RA INTERNATIONAL GROUP PLC

("RA International" or the "Company")

Results of the Annual General Meeting

RA International Group PLC (AIM: RAI), a specialist provider of complex and integrated remote site services to Humanitarian, Governmental and Commercial organisations globally , announces that all resolutions put to the Shareholders at the Annual General Meeting of the Company held earlier today were duly passed.

AGM Resolutions

Resolutions 1 to 7 were proposed as ordinary resolutions. Resolutions 8 to 10 were proposed as special resolutions. The proxy votes cast prior to the meeting were as follows:

Eligible votes	171,662,973
Voted total (incl all validly made proxy votes)	152,950,865
Voted total (%)	89.10

RESOLUTIONS	Votes For	%	Votes Against	%	Votes Cast	Votes withheld
1. To receive and adopt the annual accounts for the year ended 31 December 2020.	152,943,492	100.00	0	0.00	152,943,492	7,373
2. To reappoint Ernst & Young LLP as auditors of the company.	152,901,476	99.97	43,843	0.03	152,945,319	5,546
3. To authorise the directors to fix the remuneration of the auditors.	152,907,889	99.97	38,470	0.03	152,946,359	4,506
4. To re-appoint Sangita Shah as a director.	152,944,814	100.00	1,545	0.00	152,946,359	4,506
5. To re-appoint Alec Carstairs as a director.	152,946,161	100.00	198	0.00	152,946,359	4,506
6. To declare a final dividend.	152,950,865	100.00	0	0.00	152,950,865	0
7. To confer on the Directors authority to allot securities in accordance with Section 551 of the Companies Act 2006.	152,941,984	100.00	1,696	0.00	152,943,680	7,185
8. To confer on the Directors power to allot securities under a disapplication of Section 561 of the Companies Act 2006.	148,869,637	97.34	4,074,043	2.66	152,943,680	7,185
9. To authorise the Company to make market purchases of its own shares for the purposes of Sections 693 and 701 of the Companies Act 2006.	152,949,518	100.00	1,347	0.00	152,950,865	0
10. To adopt new articles of association.	152,945,492	100.00	867	0.00	152,946,359	4,506

A vote withheld is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" and "Against" any resolution.

The Company notes it received 4,074,043 votes against Resolution 8. Although this was less than 3% of the total votes cast, the board acknowledges that it is more than 20% of the independent votes cast in respect of Resolution 8. The board, through its advisors, has been in consultation with the largest shareholder voting against this resolution and understand that the requested authority to allot up to 20% of the Company's issued share capital, without the need to hold a shareholder meeting, or to first offer them to existing shareholders, was not something they were comfortable with.  

As highlighted in the AGM Notice, RA International does not have any intention at the moment to utilise this authority, but it was requested to maintain future financial flexibility. The board continues to believe that it is in the best interests of RA International at this stage of the Company's journey. However, the board will keep the level of this authority under review and continue to bear in mind the views of shareholders in the utilization of these share authorities.

Enquiries:

RA International Group PLC Soraya Narfeldt, Chief Executive Officer Lars Narfeldt, Chief Operating Officer Andrew Bolter, Chief Financial Officer	Via Bamburgh Capital
Canaccord Genuity Limited (Nominated Adviser and Broker) Bobbie Hilliam Alex Aylen	[phone]
Bamburgh Capital Limited (Financial PR & Investor Relations) Murdo Montgomery	[phone] [e-mail]

About RA International  

RA International is a leading provider of services to remote locations in Africa and the Middle East. The Company offers its services through three channels: construction, integrated facilities management and supply chain, and services three main client groups: humanitarian and aid agencies, governments and commercial customers, predominantly in the oil and gas and mining sectors. It has a strong customer base, largely comprising UN agencies, western governments and global corporations.

The Company provides comprehensive, flexible, mission critical support to its clients enabling them to focus on the delivery of their respective businesses and services. Focusing on integrity and values alongside making on-going investment in its people, locations and operations has over time created a reliable and trusted brand within its sector.

 

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