REG - Braemar Shipping - Results of Annual General Meeting

BraemarAnnouncement

19/08/2022 11:45

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RNS Number : 6431W  Braemar Shipping Services PLC  19 August 2022

 

 

19 August 2022

 

BRAEMAR SHIPPING SERVICES PLC

("Braemar", the "Company" or the "Group")

Results of Annual General Meeting

 

Braemar Shipping Services Plc (LSE: BMS), a leading international Shipbroker
and provider of expert advice in shipping investment, chartering and risk
management, is pleased to announce that each of the resolutions proposed at
its Annual General Meeting (the "AGM") held earlier today were duly passed by
means of a poll vote.

The poll results were as follows:

     Resolution                                                                      Votes For   % For  Votes Against  % Against  Total Votes  % of ISC voted  Votes Withheld
 4   Re-election of Elizabeth Gooch as a director                                    10,164,860  89.32  1,214,953      10.68      11,379,813   35.18%          43,428
 5   Re-election of James Gundy as a director                                        10,178,911  89.41  1,205,346      10.59      11,384,257   35.19%          38,984
 6   Re-election of Stephen Kunzer as a director                                     10,172,107  89.25  1,225,286      10.75      11,397,393   35.23%          25,848
 7   Re-election of Nigel Payne as a director                                        10,177,032  89.30  1,219,262      10.70      11,396,294   35.23%          26,947
 8   Re-election of Tristram Simmonds as a director                                  10,196,566  89.56  1,188,728      10.44      11,385,294   35.19%          37,947
 9   Re-election of Nicholas Stone as a director                                     9,876,328   86.74  1,510,065      13.26      11,386,393   35.20%          36,848
 10  Re-election of Joanne Lake as a director                                        8,488,187   74.96  2,835,944      25.04      11,324,131   35.01%          99,110
 11  Re-appointment of BDO LLP as auditors                                           10,144,423  89.10  1,240,516      10.90      11,384,939   35.19%          38,302
 12  Authority to determine the auditor's remuneration                               8,241,098   74.22  2,861,769      25.78      11,102,867   34.32%          320,374
 13  Authority to allot share capital                                                10,468,797  91.86  928,020        8.14       11,396,817   35.23%          26,424
 14  Authority to disapply pre-emption rights*                                       9,300,183   81.64  2,091,419      18.36      11,391,602   35.21%          31,639
 15  Authority to further disapply pre-emption rights*                               9,297,280   81.61  2,094,472      18.39      11,391,752   35.21%          31,489
 16  Authority to purchase own shares*                                               10,457,249  91.76  939,481        8.24       11,396,730   35.23%          26,511
 17  Authority call a general meeting (other than the Annual General Meeting) on 14  10,498,710  92.11  899,317        7.89       11,398,027   35.23%          25,214
     clear days' notice *
 19  Changing the Company's name to Braemar Plc*                                     10,480,390  92.01  910,572        7.99       11,390,962   35.21%          32,279

 

* indicates special resolutions requiring a 75% majority.

The remaining business of the AGM was adjourned and further resolutions (being
resolutions 1 to 3 (inclusive) and resolution 18) will be put to vote at a
later date, following the publication of the Full Year Results. Braemar
Shipping Services Plc expects the reconvened AGM to be in early October.

In accordance with the 2018 UK Corporate Governance Code, the Board notes that
although Resolutions 10 (Re-election of Joanne Lake as Director) and 12
(Authority to determine auditor's remuneration) passed with the requisite
majority, it received 20% or more votes against the Board's recommendation.
The Board is working to identify and understand the reasons behind these votes
and will look to engage with the Company's shareholders as appropriate in
relation to these matters.

Please note that a vote withheld is not a vote under English law and is not
counted in the calculation of the votes "for" and "against" a resolution.
The total voting rights that members were entitled to exercise at the AGM were
32,349,904.

Change of company name

As announced on 15 June 2022, the Company has recently launched a new brand
identity to support its streamlined strategy and the Board has determined that
the name of the Company should be changed to align with this brand identity.
Following shareholder approval at the Company's AGM, it is expected that the
Company's change of name will become effective with the Registrar of Companies
by early September 2022, and the Company will issue a further announcement to
confirm when this has taken place.

There will be no change to the Company's Tradable Instrument Display Mnemonic
("BMS") following the change of name. Braemar's shares will continue to be
tradeable on the Main Market of the London Stock Exchange. There will also be
no change to the Company's website which is www.braemar.com
(http://www.braemar.com)

Shareholdings are unaffected by the name change, and existing share
certificates should be retained, as they will remain valid for all purposes.
Any new share certificates issued after the change of name becomes legally
effective will bear the name Braemar Plc.

For further information, contact:

 Braemar Shipping Services Plc
 James Gundy, Group Chief Executive Officer                        Tel +44 (0) 20 3142 4100
 Nick Stone, Group Chief Financial Officer

 Emma Camilleri, Company Secretary

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

 Ben Jeynes / Max Gould (Corporate Finance)                        Tel +44 (0) 20 7397 8900

 Alex Pollen / Leif Powis (Sales)
 Buchanan
 Charles Ryland / Stephanie Whitmore / Jack Devoy / George Cleary  Tel +44 (0) 20 7466 5000

 

Notes to Editors:

 

About Braemar

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.

Braemar's experienced brokers work in tandem with specialist professionals to
form teams tailored to its customers' needs, and provides 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/) .

 

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