REG - Braemar PLC - Results of Annual General Meeting

BraemarAnnouncement

18/12/2023 13:45

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RNS Number : 1767X  Braemar PLC  18 December 2023

18 December 2023

 

BRAEMAR PLC

(the "Company")

 

Results of 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 reconvened 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 audited annual report and accounts for the year ended 28       12,600,313  99.96  4,592          0.04       12,604,905   38.28
     February 2023.
 2   To approve the directors' remuneration report for the year ended 28 February  7,297,536   57.75  5,339,764      42.25      12,637,300   38.38
     2023.
 3   To approve the directors' remuneration policy for the year ended 28 February  7,283,255   57.65  5,350,295      42.35      12,633,550   38.37
     2023
 4   To approve a final dividend of 8 pence per ordinary share for the year ended  12,094,411  99.98  2,748          0.02       12,097,159   36.74
     28 February 2023.

 

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.

Nigel Payne, Chairman said:

"I am delighted that all of the board's recommended resolutions were supported
today by our shareholders, notwithstanding recommended votes against by
certain unregulated proxy shareholder companies. These organisations
increasingly operate in a non-communicative universe that shows no interest
in, nor takes account of, the rationale behind a board's carefully and
purposefully formulated policies which, when explained, most shareholders who
take the time to engage with the Company, readily accept.

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".

UK Corporate Governance Code - statement regarding voting result

The board notes that although Resolutions 2 and 3 (directors remuneration
report and policy) 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

 Buchanan
 Charles Ryland / Stephanie Whitmore / Jamie Hooper            Tel +44 (0) 20 7466 5000

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

 Cavendish Securities PLC

 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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