REG - Volex PLC - Results of AGM, Issue of Equity and TVR

VolexAnnouncement

19/08/2022 17:45

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RNS Number : 6786W  Volex PLC  19 August 2022

19 August 2022

Volex plc

("Volex" or "the Company")

Results of Annual General Meeting, Issue of Equity

and

Total Voting Rights

 

Volex plc (AIM:VLX), the global supplier of integrated manufacturing services
and power products, is pleased to announce the results of its AGM, held
earlier today, at which all resolutions were duly passed on a poll.

 

As a consequence, Volex confirms that, further to the announcement made on 29
July 2022 in relation to the Scrip Dividend Scheme and the receipt by the
Company of valid elections from certain shareholders, 377,615 new ordinary
shares of 25 pence each (the "Scrip Dividend Shares") will be issued in
satisfaction of such elections in respect of the final dividend for the year
ended 3 April 2022.

 

Application will be made to the London Stock Exchange for the Scrip Dividend
Shares to be admitted to AIM, with the admission date expected to be on or
around 26 August 2022. On admission, the Scrip Dividend Shares will rank pari
passu in all respects with the existing ordinary shares of the Company.

 

The total number of votes received on each resolution put to the AGM is as
follows:

 

             Resolution                                                                      Percentage in Favour*  Votes For   Votes Against  Votes Withheld*  Total votes cast  Percentage of issued share capital voted
 1.          To receive the audited accounts of the Company for the financial year ended 3   99.98%                 90,941,617  18,628         138,379          91,098,624        57.40
             April 2022
 2.          To approve the Remuneration Committee report                                    97.00%                 88,335,758  2,736,019      26,847           91,098,624        57.40
 3.          To declare a final dividend of 2.4 pence per ordinary share for the financial   99.99%                 91,093,782  3,567          1,275            91,098,624        57.40
             year ended 3 April 2022
 4.          To re-elect Nathaniel Rothschild as a Director                                  98.87%                 83,437,704  950,938        6,709,982        91,098,624        57.40
 5.          To re-elect Jeffrey Jackson as a Director                                       99.72%                 90,831,404  256,266        10,954           91,098,624        57.40
 6.          To re-appoint PricewaterhouseCoopers LLP as auditors of the Company             97.21%                 88,541,123  2,544,914      12,587           91,098,624        57.40
 7.          To authorise the Directors to determine the remuneration of the auditors        97.31%                 88,585,035  2,449,911      63,678           91,098,624        57.40
 8.          To authorise the Directors to offer the holders of ordinary shares in the       99.98%                 91,016,655  21,806         60,163           91,098,624        57.40
             Company, to the extent and in the manner determined by the Directors, the
             right to elect to receive new ordinary shares instead of cash, in respect of
             all or part of any dividend which may be declared or paid in the period
             between the date of passing of this Resolution and the conclusion of the
             Annual General Meeting of the Company to be held in 2025
 9.          Subject to the passing of Resolution 8, to authorise the Directors to           99.95%                 90,994,316  41,801         62,507           91,098,624        57.40
             capitalise the appropriate nominal amounts of new shares of the Company
             allotted pursuant to the Company's Scrip Dividend Scheme out of the sums
             standing to the credit of any reserve or account of the Company
 10.         To authorise the Directors to allot shares in the Company pursuant to section   99.83%                 90,880,888  157,573        60,163           91,098,624        57.40
             551 of the Companies Act 2006 (the "2006 Act")
 11.         To authorise the Directors to allot equity securities under the authority       96.54%                 88,092,942  3,158,048      62,507           91,313,497        57.53
             conferred by Resolution 10 as if section 561 of the 2006 Act did not apply
 12.         To further authorise the Directors, in addition to any authority granted under  96.54%                 88,090,914  3,158,959      63,624           91,313,497        57.53
             Resolution 11 and only in connection with an acquisition or specified capital
             investment, to allot equity securities as if section 561 of the 2006 Act did
             not apply
 13.         To authorise the Company to make purchases of its own shares in accordance      99.95%                 90,924,864  42,823         345,810          91,313,497        57.53
             with section 701 of the 2006 Act

 

 

Total Voting Rights

 

Following the issue of the Scrip Dividend Shares, the Company's total issued
share capital will consist of 159,096,324 ordinary shares of 25 pence each
with one voting right per share.

 

As the Company does not hold any shares in treasury, the total number of
voting rights in the Company is also 159,096,324 and this figure of ordinary
shares may be used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or
a change to their interest in, the share capital of the Company under the
FCA's Disclosure Guidance and Transparency Rules.

 

 

Notes

 

*A vote withheld is not treated as a vote in law and is not counted in the
calculation of the proportion of the votes cast for or against a resolution.

 

Resolutions 1 to 10 were ordinary resolutions, requiring a simple majority of
votes cast to pass, while resolutions 11 to 13 were special resolutions,
requiring at least 75% support to pass.

 

The total number of Volex shares in issue at 6.00 p.m. on 17 August 2022,
being those eligible to be voted on at the AGM, was 158,718,709.

 

The full text of each of the resolutions is set out in the Notice of AGM,
which is available on the Volex website (www.volex.com (http://www.volex.com/)
) on the "Shareholder Information" page in the Investor Relations section.

 

 

For further information please contact:

 

 Volex plc                                                       +44 (0)7971 156 431
 Nat Rothschild, Executive Chairman
 Jon Boaden, Chief Financial Officer
 Christian Bedford, Group General Counsel and Company Secretary
 Singer Capital Markets (Nominated Adviser & Joint Broker)       +44 (0)20 7496 3000
 Shaun Dobson / George Tzimas
 HSBC Bank plc - Joint Broker                                    +44 (0)20 7991 8888
 Simon Alexander / Joe Weaving

 

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