REG - Reach PLC - 2022 AGM Update Statement

ReachAnnouncement

04/11/2022 11:00

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RNS Number : 3588F  Reach PLC  04 November 2022

4 November 2022

Reach plc

("Reach" or the "Company")

2022 Annual General Meeting - Update Statement

Reach is providing its update in accordance with the requirement of Provision
4 of the UK Corporate Governance Code 2018.

In its 2022 Annual General Meeting ("AGM") results announcement on 5 May 2022,
the Company reported that all resolutions were passed.  The total votes in
favour of resolution 17 concerning the further disapplication of pre-emption
rights were 76.71%.

In view of the 23.29% vote against the further disapplication of pre-emption
rights, most of the votes against this resolution were received from one major
shareholder. The Company has engaged with the shareholder, and the rationale
for voting against was due to its governance policies restricting its ability
to support this resolution although the Company's authorities are consistent
with prevailing UK market practice and both the Investment Association's
Share Capital Management Guidelines and the Pre-Emption Group's Statement of
Principles.

The Company will continue to engage with any shareholders for whom this
authority present concerns and will keep the level of the authority sought
under review.

 

Enquiries:

 Reach
 Jim Mullen, Chief Executive Officer

 Simon Fuller, Chief Financial Officer

 Lorraine Clover, Group Company Secretary                                            company.secretary@reachplc.com

 Tulchan
 David Allchurch /Giles Kernick                                                      020 7353 4200

                                                                                     reachplc@tulchangroup.com

 LEI: 213800GNI5XF3XOATR61

 Classification: 3.1 Additional regulated information required to be disclosed
 under the laws of a Member State

 

 

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