REG - Kitwave Group PLC - Result of AGM and Directorate Change

KitwaveAnnouncement

22/03/2024 13:15

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RNS Number : 0114I  Kitwave Group PLC  22 March 2024

 

22 March 2024

Kitwave Group plc

 

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

Result of AGM and Directorate Change

Kitwave Group plc (AIM: KITW), the delivered wholesale business, confirms that
all the resolutions put to the shareholders at the Annual General Meeting
("AGM") held earlier today were duly passed.

 

A breakdown of proxy votes lodged prior to the meeting for each resolution is
set out below and will also be made available on the Group's website at:
https://www.kitwave.co.uk/investors/documents/#circulars
(https://www.kitwave.co.uk/investors/documents/#circulars)

 Resolutions                                                                    For*         %      Against    % Against  Vote withheld**  Total votes cast

For
 1. Annual report and accounts for the financial year ended 31 October 2023     45,539,759   100    0          0          436,032          45,539,759
 2. Declaration of final dividend                                               45,975,791   100    0          0          0                45,975,791
 3. Re-election of David Brind as a director                                    45,975,691   99.99  100        0.01       0

                                                                                                                                           45,975,791
 4. Re-election of Benjamin Maxted as a director                                             100    0          0          0                45,975,791

                                                                                45,975,791

 5. Re-election of Gerard Murray as a director                                  45,975,691   99.99  100        0.01       0                45,975,791
 6. Re-election of Teresa Octavio as a director                                 45,975,791   100    0          0          0                45,975,791
 7. Re-election of Stephen Smith as a director                                  43,462,495   94.53  2,513,296  5.47       0                45,975,791
 8. Re-appointment of auditor                                                                100    0          0          0                45,975,791

                                                                                45,975,791

 9. Auditor's remuneration                                                                   100    0          0          0                45,975,791

                                                                                45,975,791

 10. Director's authority to allot shares                                                    100    0          0          0                45,975,791

                                                                                45,975,791

 11. ***Dis-application of pre-emption rights                                   45,529,770   99.03  446,021    0.97       0                45,975,791
 12. ***Dis-application of pre-emption rights for specified capital investment  41,985,989   91.32  3,989,802  8.68       0                45,975,791
 or acquisition
 13. ***Authority to purchase own shares                                        45,754,791   99.99             0.01       220,000          45,755,791

                                                                                                    1,000

 14. Authority to make political donations or incur political expenditure       38,580,813   91.35  3,651,245  8.65       3,743,733        42,232,058

 

* The votes "for" figures include those votes at the discretion of the
Chairman.

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

*** Special resolutions requiring a 75% majority.

 

Directorate Change

As set out in the announcement by the Company on 6 November 2023, Paul Young
has retired from the Board following the conclusion of the Annual General
Meeting. Ben Maxted has been appointed as Chief Executive Officer with
immediate effect.

 

- Ends -

 

For further information please contact:

 Kitwave Group plc                                    Tel: +44 (0) 191 259 2277

 Ben Maxted, Chief Executive Officer

 David Brind, Chief Financial Officer

 www.kitwave.co.uk (http://www.kitwave.co.uk/)
 Canaccord Genuity Limited                            Tel: +44 (0) 20 7523 8150

(Nominated Adviser and Sole Broker)

 Bobbie Hilliam

Alex Orr

 Yellow Jersey PR                                     Tel: +44 (0) 20 3004 9512

(Financial media and PR)

 Sarah Hollins

 Shivantha Thambirajah

 Bessie Elliot

 

Company Overview

Founded in 1987, following the acquisition of a single-site confectionery
wholesale business based in North Shields, United Kingdom, Kitwave is a
delivered wholesale business, specialising in selling and delivering impulse
products, frozen and chilled foods, alcohol, groceries and tobacco to
approximately 42,000, mainly independent, customers.

 

With a network of 30 depots, Kitwave is able to support delivery throughout
the UK to a diverse customer base, which includes independent convenience
retailers, leisure outlets, vending machine operators, foodservice providers
and other wholesalers, as well as leading national retailers.

The Group's growth to date has been achieved both organically and through a
strategy of acquiring smaller, predominantly family-owned, complementary
businesses in the fragmented UK grocery and foodservice wholesale market.

 

Kitwave Group plc (AIM: KITW) was admitted to trading on AIM of the London
Stock Exchange on 24 May 2021.

 

For further information, please visit www.kitwave.co.uk
(http://www.kitwave.co.uk) .

 

 

 

 

 

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