REG - Gateley (Holdings) - Result of AGM

Gateley (Holdings)Announcement

23/09/2024 16:15

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RNS Number : 3003F  Gateley (Holdings) PLC  23 September 2024

23 September 2024

 

GATELEY (HOLDINGS) PLC

("Gateley" or the "Company")

AIM: GTLY

 

Result of AGM

 

At the Annual General Meeting of Gateley, held today at 12.30pm, all the
resolutions, other than resolution 9, which was a special resolution requiring
over 75%, to amend the Company's articles of association in order to allow
virtual AGMs, were passed on a poll. The result of the poll voting (including
all proxies) is detailed below.

 

      Resolution                                                                   Votes       Votes       Votes

                                                                                   For*        Against     Withheld
 1.   To receive the audited accounts of the Company                               56,253,433  6,184       11,831
 2.   To approve the directors' remuneration report                                56,034,581  222,444     14,423
 3.   To declare a final dividend                                                  56,259,515  102         11,831
 4.   To reappoint Edward Knapp as a director                                      56,171,438  87,330      12,680
 5.   To reappoint Neil Andrew Smith as a director                                 55,746,928  425,360     99,160
 6.   To appoint MacIntyre Hudson LLP as auditors of the Company                   56,171,924  87,025      12,499
 7.   To authorise the directors to fix the remuneration of the auditors           56,163,628  85,936      21,884
 8.   To authorise the directors to allot relevant securities                      56,157,202  102,247     11,999
 9.   To adopt new articles of association**                                       34,697,888  21,538,602  34,958
 10.  To authorise the directors to allot equity securities for cash**             54,535,437  1,722,247   13,764
 11.  To authorise the directors to allot equity securities for an acquisition or  53,506,610  2,751,074   13,764
      capital investment**
 12.  To authorise the Company to purchase its own shares**                        43,000,930  80,980      13,189,538

 

* Any proxy appointments, which gave discretion to the Chairman have been
included in the 'For' votes total.

** Special resolution

 

Nigel Payne, Chairman of Gateley, said:

 

"I am delighted that all resolutions, other than resolution 9, passed at
today's AGM. I note, however, with disappointment and some considerable degree
of frustration, in my last AGM as Chair of Gateley the votes against
resolution 9, being the board's resolution to amend the Company's Articles to
allow virtual AGMs to take place.

 

"Over the past five years, the average number of non-staff shareholders
attending the AGM is less than one. Indeed, none of the institutional
shareholders who voted against this resolution have appeared in person at our
AGM in the nine years that I have chaired the business. In my opinion, virtual
AGMs are environmentally friendly, provide easier access to a broader range of
shareholders, are commensurate with Gateley's ESG policies and responsible
business principles and generally attract higher attendances. The board will
no doubt consider over the coming months if it should re-introduce the
resolution at next year's AGM.

 

"I also note that a number of shareholders seem to have followed the direction
of voting as recommended by certain unregulated proxy voting advisers, without
any consultation with the company. I would like to thank those shareholders
that communicated directly with the company and I continue to encourage all
shareholders to so engage in future and not to simply follow unregulated
advice or indeed vote against board resolutions without the courtesy of first
engaging with the company to see if any disagreements or misunderstandings
might be resolved."

 

 

Enquiries:

 

 Gateley (Holdings) Plc
 Neil Smith, Chief Financial Officer                               Tel: +44 (0) 121 234 0196
 Nick Smith, Acquisitions Director and Head of Investor Relations  Tel: +44 (0) 20 7653 1665
 Cara Zachariou, Communications Director                           Tel: +44 (0) 121 234 0074 Mob: +44 (0) 7703 684 946

 Panmure Liberum - Nominated Adviser and Broker                    Tel: +44 (0) 20 3100 2000

 Richard Lindley/ Nikhil Varghese

 

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