REG - Anglo-Eastern Plant - Update Statement on 2023 Annual GM Voting Results

Anglo-Eastern PlantationsAnnouncement

21/12/2023 12:45

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RNS Number : 6544X  Anglo-Eastern Plantations PLC  21 December 2023

  21 December 2023

 

Anglo-Eastern Plantations Plc

("AEP" or the "Company")

 

Update Statement on 2023 Annual General Meeting Voting Results

At the Company's Annual General Meeting ("AGM") held on 16 June 2023, a
significant proportion of shareholders did not support resolution 12 in
relation to the Directors' Power to Allot shares.

 

We note that the authorities sought by the Company under resolution 12 are in
line with the maximum recommended levels contained within the relevant share
capital management guidelines and prevailing voting guidelines of leading
corporate governance agencies. The Company only retains these authorities to
provide flexibility in the capital management of the Company and would only
exercise these authorities if it were considered in the best interests of
shareholders.

 

Following the AGM, the Company's Executive Director has subsequently consulted
and engaged with a group of shareholders who voted against the resolution in
order to hear their views and better understand their concerns.

 

The Board is grateful to all shareholders who provided feedback on this
resolution. The common theme apparent from the engagement with this group of
shareholders was their concern over dilution and that they would prefer not to
grant general or annual authorities in respect of changes in equity capital,
but instead to review approval when required for specific transactions.

 

AEP is committed to maintaining an open and constructive dialogue with all of
the Company's shareholders and will continue to engage with those shareholders
for whom this resolution present concerns.

 

This statement is provided in accordance with Provision 4 of the UK Corporate
Governance Code.

 

 For further enquiry, contact:

 

 Anglo-Eastern Plantations Plc
 Dato' John Lim Ewe Chuan           +44 (0) 20 7216 4621

 Panmure Gordon (UK) Limited
 Dominic Morley / Amrit Mahbubani  +44 (0) 20 7886 2500

 

 

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