REG - Braemar PLC - Results of 2024 Annual General Meeting

BraemarAnnouncement

03/07/2024 14:45

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RNS Number : 0317V  Braemar PLC  03 July 2024

 

       3 July 2024

 

BRAEMAR PLC

(the "Company")

 

Results of 2024 Annual General Meeting

 

Braemar Plc (LSE: BMS), a leading provider of expert investment, chartering,
and risk management advice to the shipping and energy markets, is pleased to
announce that each of the resolutions proposed at its Annual General Meeting
held earlier today were duly passed by means of a poll vote as set out below.

 

             Resolution                                                                      Votes For   % For  Votes Against  % Against  Total Votes  Votes Withheld
 1.          To receive the Company's audited accounts for the year ended 29 February 2024   10,556,402  96.03  436,360        3.97       10,992,762   56,246
             (incorporating the directors' report and auditor's report).
 2.          To approve the directors' remuneration report for the year ended 29 February    6,034,754   54.90  4,958,251      45.10      10,993,005   56,003
             2024.
 3.          To approve a final dividend of nine pence per ordinary share for the year       10,866,710  98.37  179,880        1.63       11,046,590   2,418
             ended 29 February 2024, to be paid on 9 September 2024.
 4.          To re-elect Grant Foley as a director of the Company.                           10,717,905  97.09  321,373        2.91       11,039,278   9,730
 5.          To re-elect Elizabeth Gooch as a director of the Company.                       8,652,699   78.34  2,392,766      21.66      11,045,465   3,543
 6.          To re-elect James Gundy as a director of the Company.                           9,356,925   84.87  1,668,597      15.13      11,025,522   23,486
 7.          To re-elect Joanne Lake as a director of the Company.                           8,847,683   80.10  2,197,782      19.90      11,045,465   3,543
 8.          To re-elect Nigel Payne as a director of the Company.                           8,673,028   78.63  2,357,494      21.37      11,030,522   18,486
 9.          To re-elect Tristram Simmonds as a director of the Company.                     8,190,607   74.20  2,847,940      25.80      11,038,547   10,461
 10.         To re-elect Catriona Valentine as a director of the Company.                    10,776,411  97.57  267,867        2.43       11,044,278   4,730
 11.         To re-appoint BDO LLP as auditor to the Company.                                8,902,456   80.67  2,133,474      19.33      11,035,930   13,078
 12.         To authorise the Audit & Risk Committee of the Company to determine BDO         9,836,295   89.11  1,201,818      10.89      11,038,113   10,895
             LLP's remuneration.
 13.         Authority to allot share capital.                                               10,455,090  95.06  543,135        4.94       10,998,225   50,783
 14.         To approve the rules of the Long-Term incentive plan.                           8,699,813   79.17  2,289,077      20.83      10,988,890   60,118
 15.         Authority to disapply pre-emption rights*                                       9,299,800   84.46  1,711,231      15.54      11,011,031   37,977
 16.         Authority to further disapply pre-emption rights*                               9,331,375   84.70  1,686,246      15.30      11,017,621   31,387
 17.         Authority to purchase own shares*                                               10,980,615  99.41  65,323         0.59       11,045,938   3,070
 18.         Authority to call a general meeting (other than the Annual General Meeting) on  10,758,992  97.40  287,598        2.60       11,046,590   2,418
             14 clear days' notice*

 

* Special resolution requiring 75% majority.

 

Notes:

1.   Any proxy appointments which give discretion to the Chair have been
included in the "for" total.

2.   The total number of shares in issue is 32,924,877.

3.   A "vote withheld" is not a vote in law and is not counted in the
calculation of the proportion of the votes "for" or "against" a resolution.

 

UK Corporate Governance Code - statement regarding voting result

The board notes that although resolutions 2,5,8,9 and 14 passed with the
requisite majorities, they received more than 20% of votes against the board's
recommendation. The board encourages an open and constructive dialogue
directly with shareholders and continues to be willing to engage with any
shareholder on any relevant topics should they choose to do so.

ENDS

For further information, contact:

 Braemar Plc
 James Gundy, Group Chief Executive Officer                         Tel +44 (0) 20 3142 4100
 Grant Foley, Group Chief Financial Officer

 Rebecca-Joy Wekwete, Company Secretary

 Burson Buchanan
 Charles Ryland / Stephanie Whitmore / Jack Devoy / Abby Gilchrist  Tel +44 (0) 20 7466 5000

 Investec Bank plc
 Gary Clarence / Alice King                                         Tel +44 (0) 20 7597 5970

 Cavendish Capital Markets Limited

 Ben Jeynes / Matt Lewis (Corporate Finance)                        Tel +44 (0) 20 7220 0500

 Leif Powis / Dale Bellis / Charlie Combe (Sales & ECM)

 

Notes to Editors:

About Braemar Plc

Braemar provides expert investment, chartering, and risk management advice
that enable its clients to secure sustainable returns and mitigate risk in the
volatile world of shipping and energy. Our experienced brokers work in tandem
with specialist professionals to form teams tailored to our customers' needs,
and provide an integrated service supported by a collaborative culture.

Braemar joined the Official List of the London Stock Exchange in November 1997
and trades under the symbol BMS.

For more information, including our investor presentation,
visit www.braemar.com (http://www.braemar.com/)  and follow Braemar
on LinkedIn (https://www.linkedin.com/company/braemar-ltd) .

 

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