REG - Pollen Street Group - Update Statement on 2024 AGM Voting Results

Pollen StreetAnnouncement

13/12/2024 07:00

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RNS Number : 9331P  Pollen Street Group Limited  13 December 2024

13 December
2024

Pollen Street Group Limited

("Pollen Street Group" or the "Company")

Update Statement on 2024 Annual General Meeting Voting Results

 

Pollen Street Group Limited ("Pollen Street Group" or the "Company") today
provides an update in respect of its Annual General Meeting held on 13 June
2024 ("AGM"). As previously announced, at the AGM all resolutions were
successfully passed with the requisite majority of votes. However, the Company
acknowledges that resolutions 18 and 19 ("The Rule 9 Waiver Resolutions")
received a lower level of support (of votes cast, 79.73% and 66.8% voted in
favour respectively).

The Rule 9 Waiver Resolutions related to the approval by independent
shareholders of a waiver obtained from the Panel on Takeovers and Mergers in
respect of an obligation that could arise on the Concert Party (as defined in
the Notice of AGM 20 May 2024), to make a general offer for all the issued
ordinary share capital of the Company following any increase in the percentage
of shares held by the Concert Party resulting from either the exercise by the
Company of the authority to purchase its own shares pursuant to resolutions 14
(which received approval from 98.89% those voting) or resulting from the 2025
Awards Grant (as defined in the Notice of Meeting 20 May 2024).

Since the AGM, the Company and Board have engaged with shareholders to
understand their voting decisions and discuss the rationale behind the
relevant resolutions. The Board believes that it is in the best interest of
the shareholders that the Company has the flexibility to return value to the
shareholders through buyback schemes, and the Concert Party remains fully
supportive of the Company's management and has no intention to make any
changes to the future of the Company.

The Board encourages ongoing shareholder and proxy adviser engagement and
continues to make itself available to all stakeholders on request. The Board
will again take the views of shareholders into account ahead of tabling
resolutions at the next AGM and continues to engage regularly with
shareholders and their representative bodies. In accordance with the UK
Corporate Governance Code, any further updates will be provided in the
Company's 2024 annual report and accounts.

For further information about this announcement please contact:

 Pollen Street Group Limited   Corporate Development Director  Shweta.Chugh@pollencap.com (mailto:Shweta.Chugh@pollencap.com)    +44 (0) 7813 58 1377

 Link Company Matters Limited  Company Secretary               Polncosec@linkgroup.co.uk (mailto:Polncosec@linkgroup.co.uk)

 FGS Global                    Communications Advisor          Chris.sibbald@fgsglobal.com (mailto:Chris.sibbald@fgsglobal.com)  +44 (0) 7855 95 5531

 Barclays Bank plc             Joint broker                    Neal West / Stuart Muress                                         +44 (0) 20 7623 2323

 Investec Bank plc             Joint broker                    Ben Griffiths / Kamalini Hull                                     +44 (0) 20 7597 4000

 

 

LEI: 894500LP94M98N8CY487

 

About Pollen Street Group Limited

Pollen Street is an alternative asset manager dedicated to investing within
the financial and business services sectors across both Private Equity and
Private Credit strategies. The business was founded in 2013 and has
consistently delivered top tier returns alongside growing AuM.

 

Pollen Street benefits from a complementary set of asset management activities
focused on managing third-party AuM (the "Asset Manager") together with
on-balance sheet investments (the "Investment Company").

 

The Asset Manager raises capital from high quality investors and deploys it
into its Private Equity and Private Credit strategies. The strong recurring
revenues from this business enable delivery of scalable growth.

 

The Investment Company invests in the strategies of the group delivering
attractive risk adjusted returns and accelerating growth in third-party AuM of
the Asset Manager through investing in Pollen Street funds, taking advantage
of attractive investment opportunities and aligning interest with our
investors to grow AuM. Today the portfolio is largely invested in credit
assets with the allocation to Private Equity expect to increase to 30 per cent
in the long term. The portfolio consists of both direct investments and
investments in funds managed by Pollen Street.

 

POLN is listed on the London Stock Exchange (ticker symbol: POLN). Further
details are available at www.pollenstreetgroup.com
(http://www.pollenstreetgroup.com) .

 

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