REG - Kinovo PLC - Result of AGM and Directorate change

KinovoAnnouncement

15/09/2022 12:15

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RNS Number : 6298Z  Kinovo PLC  15 September 2022

 

Kinovo plc

Result of Annual General Meeting and Directorate Change

 

The Annual General Meeting of Kinovo plc was held at the offices of Hudson
Sandler, 25 Charterhouse Square, London, EC1M 6AE on 15 September 2022 at
10:00 a.m.

Resolutions 1 to 6 were proposed as ordinary resolutions and resolution 7 was
proposed as a special resolution. The results of the poll are outlined in the
table below.

 Resolution                                                                    Votes for   %      Votes against  %      Votes withheld
 Resolution 1 (Ordinary)                                                       21,414,922  100    0              0      0

 To receive and adopt the Annual Report and Accounts for the financial year
 ended 31 March 2022.
 Resolution 2 (Ordinary)                                                       21,414,922  100    0              0

 To appoint Moore Kingston Smith LLP as auditor of the Company.                                                         0
 Resolution 3 (Ordinary)                                                       21,414,722  99.9   150            0.1

 To elect Kim Wright as a Director of the Company.                                                                      0
 Resolution 4 (Ordinary)                                                       21,414,922  100    0              0

 To re-elect David Bullen as a Director of the Company.                                                                 0
 Resolution 5 (Ordinary)                                                       21,414,922  100    0              0

 To re-elect Clive Lovett as a Director of the Company.                                                                 0
 Resolution 6 (Ordinary)                                                       21,414,722  99.9   150            0.1

 To authorise the Directors to allot relevant securities pursuant to section
 551 of the Companies Act 2006, as set out in the Notice of the Meeting.

                                                                                                                        0
 Resolution 7 (Special)                                                        12,100,458  56.51  9,314,464      43.49

  To disapply pre-emption rights.                                                                                       0

 

The Board acknowledges the failure to pass resolution 7 and intends to take
action to understand the reasons behind the result. The Board is disappointed
in this outcome given that the resolution follows the provisions of the
Pre-emption Group's Statement of Principles for the disapplication of
pre-emption rights and reflects UK-listed company market practice.

The Board considers the flexibility afforded by this authority to be in the
best interests of the Company and its shareholders and notes that it has
received support for this resolution at previous Annual General Meetings.
However, the Board remains committed to continuing open and transparent
dialogue and will, accordingly, seek to continue to engage with those
shareholders regarding their views in this area.

As at 15 September 2022, there were 62,137,757 ordinary shares in issue.
Shareholders are entitled to one vote per share. Votes withheld are not votes
in law and so have not been included in the calculation of the proportion of
votes for and against a resolution.

Directorate Change

At the Annual General Meeting held this morning, Sangita Shah stated her
intention to resign from the Board in due course.  She will remain in post to
assist the Board find a suitable successor.

 

For further information:

 

 Kinovo plc
 Sangita Shah, Chairman                                            +44 (0)20 7796 4133

 David Bullen, Chief Executive Officer                             (via Hudson Sandler)

 Canaccord Genuity Limited  (Nominated Adviser and Sole Broker)    +44 (0)20 7523 8000
 Adam James

 Andrew Potts

 Harry Rees

 Hudson Sandler  (Financial PR)                                    +44 (0)20 7796 4133
 Dan de Belder

 Harry Griffiths

 

 

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