REG - Network Intnl Hldgs - AGM Update Statement: 23 November 2021

Network International HoldingsAnnouncement

23/11/2021 07:00

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RNS Number : 1613T  Network International Holdings PLC  23 November 2021

Network International Holdings Plc

2021 AGM Update Statement: 23 November 2021

 

Network International Holdings Plc (LSE: NETW) (the "Company"), the leading
enabler of digital commerce across the Middle East and Africa (MEA), provides
an update in relation to Resolution 17 passed with the necessary majority at
the Company's Annual General Meeting held on 20 April 2021, to grant authority
to the directors to allot shares. While the resolution received 75.32% support
from shareholders, 24.68% of votes received were against. The authority
approved by shareholders is in accordance with the institutional guidelines
issued by the UK Investment Association and in line with the prevailing voting
guidelines of leading corporate governance agencies applicable to UK listed
companies.

Whilst it remains standard market practice for many UK FTSE listed companies
to retain this type of authority, we understand following dialogue, that some
institutional investors, typically based outside the UK, have specific
policies against supporting this type of resolution.

 

The Company has a comprehensive programme of engagement with its major
shareholders and would endeavor to discuss any potential allotment of shares
in advance of it taking place.

 

We will maintain dialogue with shareholders for which this authority continues
to present concerns and will keep best practice in this area under review. We
will provide a final update in the 2021 Annual Report.

 

Jaishree Razzaq

Chief Risk Officer & Group Company Secretary

Network International Holdings Plc

 

Investor Relations enquiries

Network
International
InvestorRelations@Network.Global

Amie Gramlick, Head of Investor Relations
 
 

Media enquiries

Teneo
                                                                                                       NetworkInternational@Teneo.com

Ben Foster, Andy Parnis
 

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