REG - Anglo-Eastern Plant - Update Statement on 2024 AGM Voting Results

Anglo-Eastern PlantationsAnnouncement

16/01/2025 09:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250116:nRSP5965Ta&default-theme=true

RNS Number : 5965T  Anglo-Eastern Plantations PLC  16 January 2025

16 January 2025

 

Anglo-Eastern Plantations Plc

("AEP" or the "Company")

 

Update Statement on 2024 Annual General Meeting Voting Results

 

At the Company's Annual General Meeting ("AGM") held on 24 June 2024, a
significant proportion of shareholders did not support resolution 12 in
relation to the Directors' Power to Allot equity securities in respect of
disapplication of pre-emption rights.

 

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 Directors subsequently consulted
and engaged with a group of shareholders who voted against the resolution to
better understand their concerns.

 

The Board is grateful to all shareholders who provided feedback on this
resolution. A common theme from our engagement with this group of shareholders
was their concern over dilution. They expressed a preference not to grant
general or annual authorities to waive their pre-emptive rights to subscribe
to new share capital issuances, but rather to consider approvals on a
case-by-case basis for specific transactions.

 

AEP is dedicated to fostering open and constructive dialogues with all
shareholders and actively welcomes feedback to drive continuous improvement.

 

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

 

 

 

For further enquiry, contact:

 

Anglo-Eastern Plantations
Plc
 +44 (0) 20 7216 4621

Marcus Chan Jau Chwen, Executive Director (Corporate Affairs)

Kevin Wong Tack Wee, Group Chief Executive Officer

 

Panmure
Liberum
+44 (0) 20 3100 2000

Amrit Mahbubani / Freddie Wooding

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDPKABKCBKKCDD