REG - Essentra plc - Result of Meeting & Update on Share Buyback

EssentraAnnouncement

15/11/2023 07:00

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RNS Number : 4614T  Essentra plc  15 November 2023

15 November 2023

Essentra plc (the 'Company' or 'Essentra')

Results of General Meeting

and

Update on the Share Buyback Programme

 

Results of the General Meeting Merger Reserve Resolutions

Essentra are pleased to announce that at the Company's General Meeting held on
14 November 2023, the two resolutions proposed were duly voted upon by poll
and were passed by shareholders. The resolutions allow Essentra to move its
merger reserve from non-distributable reserves to distributable reserves,
subject to Court sanction, as announced on 20 October 2023.

     Resolution                Votes For                             Votes Against              Total Votes Cast                                 Votes Withheld

                               (Including discretionary votes)                                  (Excluding votes withheld)
                               Number of shares   %                  Number of shares  %        Number of shares  % of relevant shares in issue  Number of shares
 1   Articles of Association   246,008,086        99.97              66,135            0.03     246,074,221       84.95                          31,412
 2   Company's Merger Reserve  246,007,822        99.97              67,505            0.03     246,075,327       84.96                          30,306

 

The number of ordinary shares of 25 pence each ('Ordinary Shares') in issue at
the close of business on 14 November 2023 (excluding 5,039,265 Ordinary Shares
in treasury) was 289,653,603.

 

Any vote that gave the Chair discretion has been included in the 'For' votes.
A vote withheld is not a vote in law and is not counted towards the votes cast
'For' or 'Against' a resolution.

 

Copies of the resolutions passed at the General Meeting will shortly be
available for inspection on the National Storage Mechanism document viewing
facility at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) and on the Company's
website at www.essentraplc.com (http://www.essentraplc.com/) .

 

Update on the Share Buyback Programme

 

Essentra remains committed to returning a total of £60 million to investors
through its ongoing share buyback programme (the "Share Buyback Programme"),
which was launched on 29 March 2023. To date, Essentra has acquired 12,259,161
Ordinary Shares, of which 4,141,321 Ordinary Shares have been transferred into
treasury, and 8,117,840 Ordinary Shares have been cancelled. To date,
purchases made pursuant to the Share Buyback Programme total approximately
£22.2 million.

 

The Share Buyback Programme was initially expected to conclude before 31
December 2023, however as a result of a disciplined focus on capital
allocation requirements, including the acquisition of BMP TAPPI, the Share
Buyback Programme is now expected to complete 31 December 2024.

 

The Share Buyback Programme will continue to be conducted in accordance with
the general authority to repurchase Ordinary Shares, previously granted by the
Company's shareholders at the 2023 Annual General Meeting (the "2023
Authority") and then subsequently be conducted in accordance with the general
authority to be sought at the 2024 Annual General Meeting (the "2024
Authority"). The details of the 2023 Authority can be found on the Company's
website at https://www.essentraplc.com/en/investors/shareholder-services/agm
(https://www.essentraplc.com/en/investors/shareholder-services/agm) . The
maximum number of Ordinary Shares that the Company is authorised to purchase
under the 2023 Authority is 30,079,081. Upon expiry of the 2023 Authority, the
maximum number of shares that the Company shall be authorised to purchase will
be such number of Ordinary Shares as stated in the 2024 Authority.

 

Enquiries

Emma Reid, Company Secretary

T: 01908 359100

 

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