REG - Reach PLC - Result of AGM

ReachAnnouncement

05/05/2022 15:15

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RNS Number : 5019K  Reach PLC  05 May 2022

 

5 May 2022

 

Reach plc

 

Results of Annual General Meeting ("AGM")

 

In accordance with the arrangements announced on 25 March 2022, the AGM of
Reach plc (the "Company") was held today at 11.00am at Numis' Offices, 45
Gresham Street, London, EC2V 7BF.

 

All valid proxy votes (whether submitted electronically or in hard copy form)
were included in the poll taken at the meeting. Resolutions 1 to 15 and 19 and
21 were passed as ordinary resolutions and resolutions 16 to 18 and 20 were
passed as special resolutions. The results of the poll are set out below.

 

The Directors note that while a significant majority of shareholders voted at
the Annual General Meeting supported resolution 17, they are disappointed that
certain shareholders together holding some 23.29% of the share capital opposed
the resolution. The Directors intend to engage with shareholders to obtain
feedback on their concerns and will publish an update on that engagement
within six months of the date of the Annual General Meeting  in accordance
with the UK Corporate Governance Code, with a summary to be included in the
Company's annual report for the financial year ending 25 December 2022.

 

Resolution 17 followed the provisions of the Pre-Emption Group's Statement of
Principles for the disapplication of pre-emption rights for an additional 5%
authority and reflects UK listed company market practice. The Directors
consider the flexibility afforded by this additional pre-emption rights
authority to be in the best interests of the Company.

 

 

 

                                                   VOTES        %      VOTES       %      VOTES        % of ISC VOTED  VOTES

FOR
AGAINST
CAST
WITHHELD
 1   Annual Report and Accounts                    260,854,171  99.99  16,678      0.01   260,870,849  82.80%          198,293
 2   Remuneration Report                           239,922,305  92.47  19,527,586  7.53   259,449,891  82.35%          1,619,257
 3   Dividend                                      261,001,535  99.98  60,067      0.02   261,061,602  82.86%          7,540
 4   Re-elect Nick Prettejohn                      248,565,225  98.57  3,603,679   1.43   252,168,904  80.04%          8,900,238
 5   Re-elect Jim Mullen                           258,196,804  98.91  2,848,583   1.09   261,045,387  82.85%          23,755
 6   Re-elect Simon Fuller                         260,591,932  99.83  453,523     0.17   261,045,455  82.85%          23,687
 7   Re-elect Anne Bulford                         259,261,165  99.32  1,784,359   0.68   261,045,524  82.85%          23,618
 8   Re-elect Steve Hatch                          259,256,006  99.32  1,783,805   0.68   261,039,811  82.85%          29,331
 9   Re-elect David Kelly                          259,254,552  99.31  1,788,573   0.69   261,043,125  82.85%          26,017
 10  Re-elect Helen Stevenson                      259,247,744  99.31  1,796,432   0.69   261,044,176  82.85%          24,966
 11  Re-elect Olivia Streatfeild                   245,166,327  93.92  15,877,239  6.08   261,043,566  82.85%          25,576
 12  Elect Barry Panayi                            260,531,470  99.80  513,003     0.20   261,044,473  82.85%          24,669
 13  Re-Appoint PricewaterhouseCoopers LLP         256,966,265  98.43  4,090,949   1.57   261,057,214  82.86%          11,928
 14  Auditors' remuneration                        261,025,763  99.99  28,149      0.01   261,053,912  82.86%          15,230
 15  Allot shares                                  245,808,003  94.16  15,247,561  5.84   261,055,564  82.86%          13,578
 16  Disapplication of pre-emption rights          246,862,091  94.57  14,180,502  5.43   261,042,593  82.85%          26,549
 17  Further disapplication of pre-emption rights  200,243,132  76.71  60,798,613  23.29  261,041,745  82.85%          27,397
 18  Purchase of own shares                        256,905,072  98.43  4,106,128   1.57   261,011,200  82.84%          57,942
 19  Political donations                           244,189,177  93.54  16,855,604  6.46   261,044,781  82.85%          24,361
 20  Notice for General Meetings                   258,642,494  99.07  2,416,244   0.93   261,058,738  82.86%          10,404
 21  Approve Reach Senior Manager Incentive Plan   246,669,244  94.49  14,371,802  5.51   261,041,046  82.85%          28,096

 

 

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" a resolution.

2.   The issued share capital figure used to calculate the percentage voted
is 315,064,281.  This is the figure as at the close of business on 3 May 2022
and excludes the number of ordinary shares held in treasury at that date.

 

In accordance with Listing Rule 9.6.3R of the UK Financial Conduct Authority
(FCA), a copy of the resolutions passed as Special Business at the AGM have
been submitted to the UK Listing Authority and will be available for public
inspection at the National Storage Mechanism (NSM)
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

 Enquiries
 Reach plc
 Jim Mullen, Chief Executive Officer           020 7293 3000

 Simon Fuller, Chief Financial Officer

 Lorraine Clover, Group Company Secretary

 Tulchan Communications
 Giles Kernick                                 020 7353 4200

 LEI: 213800GNI5XF3XOATR61

 Classification: 3.1 Additional Information

 

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