REG - discoverIE Group plc - Results of Annual General Meeting

DiscoverieAnnouncement

24/07/2025 14:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250724:nRSX4829Sa&default-theme=true

RNS Number : 4829S  discoverIE Group plc  24 July 2025

 

24 July 2025

 

discoverIE Group plc

 

Results of Annual General Meeting

 

discoverIE Group plc (LSE: DSCV, "discoverIE" or "the Group"), a leading
international designer and manufacturer of customised electronics to industry,
announces that, at the Annual General Meeting held earlier today, all
resolutions were approved. The results of the poll, incorporating proxy votes
duly lodged prior to the meeting, are set out below:

 

      Resolution                                                                     Votes For            Votes Against        Withheld*

 1    Receipt and Adoption of                                                        81,009,072  99.99%   5,255       0.01%    290,051

      Financial Statements
 2    Approval of Final Dividend                                                     81,301,001  100.00%  1,336       0.00%    2,041
 3    Approval of Directors'                                                         80,640,797  99.19%   658,278     0.81%    5,303

      Remuneration Report
 4    Re-election of Bruce Thompson                                                  74,658,137  91.83%   6,641,506   8.17%    4,735
 5    Re-election of Nick Jefferies                                                  77,881,572  95.80%   3,413,071   4.20%    9,735
 6    Re-election of Simon Gibbins                                                   80,653,147  99.21%   641,496     0.79%    9,735
 7    Re-election of Clive Watson                                                    68,408,369  84.14%   12,891,274  15.86%   4,735
 8    Re-election of Rosalind Kainyah                                                79,234,604  97.75%   1,822,039   2.25%    247,735
 9    Re-election of Celia Baxter                                                    79,241,539  97.47%   2,058,104   2.53%    4,735
 10   Re-appointment of Auditor                                                      81,291,960  99.99%   7,998       0.01%    4,420
 11   Authority to fix Auditor's Remuneration                                        81,293,125  99.99%   7,148       0.01%    4,105
 12   Authority to Allot Shares                                                      65,549,784  80.63%   15,751,968  19.37%   2,626
 13   Additional Authority to Allot Shares                                           64,961,604  79.90%   16,340,463  20.10%   2,311
 14   Authority to Disapply Statutory                                                76,128,761  93.64%   5,172,991   6.36%    2,626

      Pre-Emption Rights
 15   Additional Authority to Disapply Statutory Pre-Emption Rights (acquisition or  68,638,442  84.69%   12,408,173  15.31%   257,763
      specified capital investment)
 16   Additional Authority to Allot Shares                                           64,504,960  79.34%   16,796,792  20.66%   2,626
 17   Authority to Purchase Company's Own Shares                                     81,006,778  100.00%  3,836       0.00%    293,764
 18   Notice of General Meetings                                                     74,442,616  91.56%   6,859,446   8.44%    2,316
 19   To authorise political donations                                               79,940,662  98.67%   1,078,038   1.33%    285,678

 

* A 'vote withheld' in respect of any resolution is not a vote in law and is
not counted in the calculation of the proportion of the votes for and against
it.

 

The total number of votes cast was 81,304,378, representing 84.38% of the
Company's total issued share capital. As at today's date, discoverIE Group plc
has 96,356,109 ordinary shares in issue.

 

A copy of the resolutions approved by Shareholders will be placed on the
National Storage Mechanism.

 

Statement regarding voting result

 

While pleased that all proposals at the AGM were supported by a significant
majority of shareholders, the Board notes that more than 20% of votes were
cast against Resolutions 13 and 16 (additional authority to allot shares and
disapplication of statutory pre-emption rights in connection with a
pre-emptive offer), each of which were passed with 79.9% and 79.3% support,
respectively. The Board believes that these resolutions are in the best
interests of the Company and provide it with the necessary flexibility to be
able to pursue its strategy effectively. The Board has actively engaged with
shareholders over the course of the last year and will continue to do so, to
remain cognisant of their views for future governance decisions.

 

 

 

For further information, please contact:

 

discoverIE Group plc

Greg Davidson - Company Secretary     01483 544 500

 

Buchanan

Chris Lane, Toto Berger, Jack Devoy     020 7466 5000

discoverIE@buchanan.uk.com (mailto:discoverIE@buchanan.uk.com)

 

 

Notes to Editors:

 

discoverIE Group plc is an international group of businesses that design and
manufacture innovative electronic components for industrial applications.

 

The Group provides application-specific components to original equipment
manufacturers ("OEMs") internationally through its two divisions, Magnetics
& Controls, and Sensing & Connectivity. By designing components that
meet customers' unique requirements, which are then manufactured and supplied
throughout the life of their production, a high level of repeating revenue is
generated with long-term, high quality customer relationships.

 

With a focus on key markets driven by structural growth, increasing electronic
content and sustainability, namely medical, electrification of transportation,
renewable energy, security and industrial automation & connectivity, the
Group aims to achieve organic growth that is well ahead of GDP and to
supplement that with complementary acquisitions. The Group is committed to
reducing the impact of its operations on the environment in order to reach net
zero. With its key markets aligned with a sustainable future, the Group has
been awarded an ESG "A" rating by MSCI and is Regional (Europe) Top Rated and
Industry (Technology Hardware) Top Rated by Sustainalytics.

 

The Group employs c.4,500 people across 20 countries with its principal
operating units located in Continental Europe, the UK, China, Sri Lanka, India
and North America.

 

discoverIE is listed on the Main Market of the London Stock Exchange and is a
member of the FTSE 250, classified within the Electrical Components and
Equipment subsector.

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  RAGSEIFDLEISEDW