REG - Braemar PLC - Results of Annual General Meeting

BraemarAnnouncement

09/08/2023 11:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230809:nRSI8129Ia&default-theme=true

RNS Number : 8129I  Braemar PLC  09 August 2023

 

9 August 2023

 

BRAEMAR PLC

(the "Company")

Results of Annual General Meeting

Braemar Plc (LSE: BMS), a 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
 5   Re-election of Elizabeth Gooch as a director                                    11,847,481  94.85  642,900        5.15       12,490,381   17,948
 6   Re-election of James Gundy as a director                                        11,517,271  93.14  848,065        6.86       12,365,336   142,993
 7   Re-election of Nigel Payne as a director                                        11,643,278  93.24  843,733        6.76       12,487,011   21,318
 8   Re-election of Tris Simmonds as a director                                      11,519,430  92.24  968,701        7.76       12,488,131   20,198
 9   Re-election of Joanne Lake as a director                                        10,254,210  82.10  2,235,171      17.90      12,489,381   18,948
 10  Election of Cat Valentine as a director                                         12,442,282  99.63  46,390         0.37       12,488,672   19,657
 11  Election of Grant Foley as a director                                           12,126,191  97.08  364,697        2.92       12,490,888   17,441
 12  Re-appointment of BDO LLP as auditors                                           10,709,141  85.70  1,786,854      14.30      12,495,995   12,334

 13  Authority to determine the auditor's remuneration                               8,180,568   67.12  4,007,564      32.88      12,188,132   320,197
 14  Authority to allot share capital                                                10,938,551  93.80  722,961        6.20       11,661,512   846,817
 15  Authority to disapply pre-emption rights*                                       9,738,976   83.51  1,923,191      16.49      11,662,167   846,162
 16  Authority to further disapply pre-emption rights*                               9,727,724   83.40  1,935,924      16.60      11,663,648   844,681
 17  Authority to purchase own shares*                                               12,450,454  99.58  52,358         0.42       12,502,812   5,517
 18  Authority to call a general meeting (other than the Annual General Meeting) on  12,468,183  99.71  36,473         0.29       12,504,656   3,673
     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.

4.     The meeting was adjourned and the remaining business of the AGM
being resolutions 1 to 4 (inclusive) will be put to vote at a later date,
following the publication of the 2023 annual report and accounts.

 

UK Corporate Governance Code - statement regarding voting result

The board notes that although Resolution 13 (auditor remuneration) passed with
the requisite majority, it received more than 20% of votes against the board's
recommendation. We thank shareholders for their support and the Board will
look to continue engagement throughout the year. The board encourages an open
and constructive dialogue directly with shareholders and continue to be
willing to engage with any shareholder on any relevant topics should they so
wish.

Nigel Payne, Chairman said:

"I am delighted that all of the board's recommended resolutions were supported
today by our shareholders.

I am especially pleased that resolutions 9 and 13 were supported,
notwithstanding recommended votes against by certain unregulated proxy
shareholder companies, some of whose policies now diverge from recommended FRC
guidance , which the board has followed.

The board's policy remains, wherever possible to not take account of
shareholder voting that has clearly followed that recommended voting by
unregulated proxy shareholders unless there has been direct engagement from
the shareholder with the company".

Availability of documents

In accordance with Listing Rule 9.6.2, full details of the resolutions will be
submitted to the National Storage Mechanism and will shortly be available for
inspection at: National Storage Mechanism | FCA
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

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

                                                   Tel +44 (0) 20 7397 8900

 Ben Jeynes / Max Gould (Corporate Finance)

 Alex Pollen / Leif Powis (Sales)
 Buchanan
 Charles Ryland / Jamie Hooper / Jack Devoy        Tel +44 (0) 20 7466 5000

 

Notes to Editors:

 

About Braemar Plc

Braemar provides expert advice in shipping investment, chartering, and risk
management to enable its clients to secure sustainable returns and mitigate
risk in the volatile world of shipping. 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, please visit www.braemar.com (http://www.braemar.com)  and
follow Braemar on LinkedIn (https://www.linkedin.com/company/braemar-ltd/) .

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  RAGFIFEATSIAIIV