REG - Topps Tiles - Result of AGM - Update

Topps TilesAnnouncement

18/07/2023 15:15

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RNS Number : 4145G  Topps Tiles PLC  18 July 2023

18 July 2023

 

Topps Tiles Plc

("Topps Tiles" or "the Company")

 

Result of AGM - Update

 

Further to its announcement on 18 January 2023 that resolutions 3 (Approval of
the director's remuneration report), 4 (Approval of the director's
remuneration policy), 5 (Re-election of Darren Shapland as a director), 11
(Appointment of Mazars LLP as auditor), 12 (Authorisation of the auditor's
remuneration), 13 (Approval of the Topps Tiles Plc Share Plan) and 14
(Director's authority to allot shares), passed with less than 80% of votes
cast in favour, and that resolution 15 (Short notice for meetings other than
AGMs) did not pass at the 2023 Annual General Meeting ("AGM"), Topps Tiles
announces that:

 

 •    Since the AGM, in accordance with provision 4 of the UK Corporate Governance
      Code, the Board has engaged with the relevant shareholder to understand and
      discuss their views with respect to these resolutions.

 •    With regards to resolutions 5 and 14, the Company acknowledges that it also
      received less than 80% of votes cast in favour at the previous AGM in 2022
      and, with regards to resolution 14, the Company understands that some non-UK
      resident investors have a policy of not supporting resolutions of this nature
      which, when passed, grant the Board specific authorities without the need to
      seek further shareholder approval.

 •    Specific feedback was sought from the same shareholder in relation to
      resolutions 3,4,11,12,13 and 15 but none was received.

 •    Whilst the Board fully respects and acknowledges that a shareholder may choose
      to vote against specific resolutions, the Board considers all the resolutions
      proposed to be in the best interests of all shareholders.

For further information please contact:

 

 Topps Tiles Plc
 Joanne Steer, Company Secretary   0116 282 8000
 Citigate Dewe Rogerson
 Kevin Smith                       020 7638 9571

 Ellen Wilton

 

Notes to Editors

 

Topps Tiles Plc is the UK's largest specialist supplier of tiles and
associated products, targeting the UK domestic refurbishment and commercial
markets and serving homeowners, trade customers, architects, designers and
contractors from 304 nationwide Topps Tiles stores, a commercial showroom in
London and seven websites: www.toppstiles.co.uk (http://www.toppstiles.co.uk)
, www.parkside.co.uk (http://www.parkside.co.uk) , www.protilertools.co.uk
(http://www.protilertools.co.uk) , www.northantstools.co.uk
(http://www.northantstools.co.uk) , www.premiumtiletrim.co.uk
(http://www.premiumtiletrim.co.uk) , www.warmfloorstore.co.uk
(http://www.warmfloorstore.co.uk) and www.tilewarehouse.co.uk
(http://www.tilewarehouse.co.uk) .

 

Since opening its first store in 1963, Topps has maintained a simple operating
philosophy ‐ inspiring customers with unrivalled product choice and
providing exceptional levels of customer service.  For further information on
the Group, please visit http://www.toppstilesplc.com/
(http://www.toppstilesplc.com/)

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