REG - On the Beach Group - Result of Annual General Meeting

On Beach groupAnnouncement

26/01/2024 17:45

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RNS Number : 1217B  On the Beach Group PLC  26 January 2024

26 January 2024

On The Beach Group plc (the "Company")

Result of Annual General Meeting

The Board of the Company announces that at its Annual General Meeting ("AGM")
held today, all the resolutions considered at the AGM were duly passed by the
required majority by means of a poll vote.

Banking Facility Update

 

Further to On the Beach's year to date trading update (FY24) published today,
it has today exercised a £25m accordion pursuant to its existing revolving
credit facility ("RCF") agreement. This is in order to support additional
volumes in a growing market and is expected to remain in place for up to 18
months.

The results of the poll votes on the AGM resolutions are shown in the table
below:

             Resolution                                                                     Votes for                  Votes against            Total votes cast (excl. withheld)  Votes withheld
                                                                                            No. of votes  % of  vote   No. of votes  % of vote  No. of votes                       No. of votes
 1.          To receive the report & accounts                                               110,634,124   99.99        5,569         0.01       110,639,693                         510,036
 2.          To approve the Directors' remuneration report                                  100,721,123   92.78         7,840,165     7.22      108,561,288                         2,588,441
 3.          To re-appoint Richard Pennycook                                                108,284,048    97.87        2,355,013     2.13      110,639,061                         510,668
 4.          To re-appoint Simon Cooper as a Director                                       109,633,735    98.65        1,505,275     1.35      111,139,010                         10,719
 5.          To re-appoint Shaun Morton                                                     109,638,686    98.65        1,503,058     1.35      111,141,744                         7,985
 6.          To re-appoint David Kelly as a Director                                        110,297,705    99.24        844,038       0.76      111,141,743                         7,986
 7.          To re-appoint Elaine O'Donnell as a director                                   110,296,905    99.24        844,838       0.76      111,141,743                         7,986
 8.          To re-appoint Justine Greening as a director                                   105,300,501    94.75        5,840,253     5.25      111,140,754                         8,975
 9.          To appoint Zoe Harris as a director                                            109,637,886    98.65        1,503,858     1.35      111,141,744                         7,985
 10.         To appoint Veronica Sharma as a director                                       111,135,375   99.99         6,369         0.01      111,141,744                         7,985
 11.         To appoint Jon Wormald as a director                                           109,633,735    98.65        1,505,275     1.35      111,139,010                         10,719
 12.         To re-appoint Ernst & Young LLP as auditors                                    110,631,183    99.54        508,458       0.46      111,139,641                         10,088
 13.         To authorise the directors to determine the auditor's remuneration             111,136,599    99.99        5,776         0.01      111,142,375                        7,354

 14.         To authorise the directors to allot shares                                     107,246,402   96.50        3,893,239     3.50       111,139,641                        10,088
 15.         To authorise political donations                                               109,824,103   98.81        1,318,272     1.19       111,142,375                        7,354
 16.         To dis-apply statutory pre-emption rights                                      110,467,127   99.40        670,183       0.60       111,137,310                        12,419
 17.         To dis-apply statutory pre-emption rights (acquisition or capital investment)  109,212,748   98.27        1,924,562     1.73       111,137,310                        12,419
 18.         To authorise the purchase of own shares                                        110,619,019    99.55       503,356       0.45       111,122,375                        27,354
 19.         To reduce the notice period required for General Meetings                      109,536,124   98.56        1,601,816     1.44       111,137,940                        11,789

 

 

Notes:

 

1.     A 'Vote withheld' is not a vote in law and is not counted in the
calculation of the proportion of the votes 'For' and 'Against' any resolution.

 

2.     The Company's total ordinary shares in issue (total voting rights)
as at the date of the AGM was 166,718,520 ordinary shares of £0.01 each.
Ordinary shareholders are entitled to one vote per ordinary share held.

 

3.     Resolutions 16 to 19 were passed as special resolutions.

 

4.     In accordance with paragraph 9.6.2 of the LSE Listing Rules, a copy
of the resolutions passed as special business at the AGM have been submitted
to the National Storage Mechanism and will shortly be available for inspection
at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

 

 For further information:

                                           c/o FTI Consulting

 On the Beach Group plc

 Shaun Morton, Chief Executive Officer

 Jon Wormald, Chief Financial Officer

 Kirsteen Vickerstaff, Company Secretary

 FTI Consulting                            Tel: +44 (0)20 3727 1000

 Alex Beagley

 Fiona Walker

 Harriet Jackson

 

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