REG - Volution Group plc - Result of AGM

VolutionAnnouncement

11/12/2024 15:00

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RNS Number : 7390P  Volution Group plc  11 December 2024

 

 

Wednesday 11 December 2024

 

Volution Group plc

Results of Annual General Meeting

 

 

Volution Group plc ("Volution", the "Group" or the "Company", LSE: FAN), a
leading international designer and manufacturer of energy efficient indoor air
quality solutions, announces that all resolutions put to the Annual General
Meeting ("AGM") held at 12:00 noon on 11 December 2024 were duly passed on a
poll. The results of the poll, incorporating the proxy votes lodged in advance
of the meeting, are set out in the table below.

 

 Resolution                                                            FOR (1)                           AGAINST                           WITHHELD (2)     % OF TOTAL VOTES IN FAVOUR
                                                                       Number of votes  % of votes cast  Number of votes  % of votes cast  Number of votes

 01      Annual Report and Accounts                                    172,027,478      100.00           378              0.00             280,026          100.00
 02      Directors' Remuneration Report                                167,296,534      97.09            5,008,420        2.91             2,928            97.09
 03      Final dividend                                                172,306,580      100.00           378              0.00             924              100.00
 04      Re-elect Nigel Lingwood                                       161,763,659      93.88            10,543,299       6.12             924              93.88
 05      Re-elect Ronnie George                                        171,921,688      99.78            385,270          0.22             924              99.78
 06      Re-elect Andy O'Brien                                         171,271,177      99.40            1,035,240        0.60             1,465            99.40
 07      Re-elect Jonathan Davis                                       169,439,032      98.34            2,867,385        1.66             1,465            98.34
 08      Re-elect Amanda Mellor                                        169,752,400      98.52            2,554,017        1.48             1,465            98.52
 09      Re-elect Claire Tiney                                         167,842,568      97.41            4,464,390        2.59             924              97.41
 10      Appoint auditor                                               170,942,097      99.21            1,363,398        0.79             2,387            99.21
 11      Remuneration of auditor                                       172,290,875      100.00           5,170            0.00             1,837            100.00
 12      Authority to make political donations                         170,246,500      98.83            2,018,458        1.17             32,924           98.83
 13      Authority to allot shares                                     160,287,892      93.02            12,019,066       6.98             924              93.02
 14(3)   General Authority to disapply pre-emption rights              154,741,367      89.81            17,557,591       10.19            8,924            89.81
 15(3)   Additional Authority to disapply pre-emption rights           135,691,343      78.90            36,278,408       21.10            338,131          78.90
 16(3)   Authority to make market purchase of own shares               170,511,601      99.21            1,365,071        0.79             431,210          99.21
 17(3)   Authority to call a general meeting on 14 clear days' notice  161,718,669      93.85            10,588,289       6.15             924              93.85

The Board notes that whilst Resolutions 14 and 15 (disapplication of
pre-emption rights) were passed with the requisite majority, for the
purposes of the UK Corporate Governance Code (the "Code") more than 20% of the
votes cast were not in favour of Resolution 15.

 

The Board notes that this resolution reflects the Pre-Emption Group Guidelines
published in 2022 (the "Guidelines") but acknowledges that shareholders may
apply their own policies in relation to the disapplication of pre-emption
rights which may differ from the Guidelines. In accordance with the Code, the
Board will engage with shareholders to better understand the reason behind
this voting outcome and will provide an update within six months of the Annual
General Meeting.

 

Notes:

 

1.   Any proxy appointments giving discretion to the Chairman of the Meeting
have been included in the "For" totals above.

2.   A vote "Withheld" is not a vote in law and is not counted in the
calculation of the votes "For" or "Against" a resolution.

3.   Indicates Special Resolutions requiring a 75% majority to be passed.

4.   The Company's total ordinary shares in issue as at 10 December 2024,
was 200,000,000 ordinary shares of 1 pence each, of which 1,965,923 ordinary
shares are held as Treasury Shares. Therefore, the total voting rights are
198,034,077 ordinary shares (ordinary shareholders are entitled to one vote
per ordinary share held).

5.   The proxy votes received, amount to 87.01% of the total voting rights.

6.   Percentages are rounded to two decimal places.

 

Copies of the resolutions passed (other than those concerning ordinary
business) will shortly be submitted to the National Storage Mechanism and will
be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism)

 

The Notice of Annual General Meeting 2024 together with the Annual Report and
Accounts 2024 can be found on the Company's website at:
www.volutiongroupplc.com (http://www.volutiongroupplc.com)

 

- ends -

Enquiries:

 

Volution Group plc

Fiona Smith, Company Secretary

 

Legal Entity Identifier: 213800EPT84EQCDHO768

 

Notes to Editors:

 

Volution Group plc (LSE: FAN) is a leading international designer and
manufacturer of energy efficient indoor air quality solutions.  Volution
Group comprises 29 key brands across three regions:

 

UK: Vent-Axia, Manrose, Diffusion, National Ventilation, Airtech, Breathing
Buildings, Torin-Sifan.

Continental Europe: Fresh, PAX, VoltAir, Kair, Air Connection, Rtek, inVENTer,
Ventilair, ClimaRad, ERI Corporation, VMI, I-Vent.

Australasia: Simx, Ventair, Manrose, DVS, Fantech, Ideal Air, NCS Acoustics,
Air Design, Major Air, Systemaire, Burra Steel.

 

For more information, please go to: www.volutiongroupplc.com
(http://www.volutiongroupplc.com)

 

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