TIDMBMS
RNS Number : 8129I
Braemar PLC
09 August 2023
9 August 2023
BRAEMAR PLC
(the "Company")
Results of Annual General Meeting
Braemar Plc (LSE: BMS), a provider of expert investment,
chartering, and risk management advice to the shipping and energy
markets, is pleased to announce that each of the resolutions
proposed at its Annual General Meeting held earlier today were duly
passed by means of a poll vote as set out below.
Resolution Votes % For Votes % Against Total Votes
For Against Votes Withheld
Re-election of Elizabeth
5 Gooch as a director 11,847,481 94.85 642,900 5.15 12,490,381 17,948
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
Re-election of James Gundy
6 as a director 11,517,271 93.14 848,065 6.86 12,365,336 142,993
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
Re-election of Nigel Payne
7 as a director 11,643,278 93.24 843,733 6.76 12,487,011 21,318
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
Re-election of Tris Simmonds
8 as a director 11,519,430 92.24 968,701 7.76 12,488,131 20,198
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
Re-election of Joanne Lake
9 as a director 10,254,210 82.10 2,235,171 17.90 12,489,381 18,948
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
Election of Cat Valentine
10 as a director 12,442,282 99.63 46,390 0.37 12,488,672 19,657
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
Election of Grant Foley
11 as a director 12,126,191 97.08 364,697 2.92 12,490,888 17,441
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
Re-appointment of BDO LLP
12 as auditors 10,709,141 85.70 1,786,854 14.30 12,495,995 12,334
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
Authority to determine
13 the auditor's remuneration 8,180,568 67.12 4,007,564 32.88 12,188,132 320,197
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
Authority to allot share
14 capital 10,938,551 93.80 722,961 6.20 11,661,512 846,817
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
Authority to disapply pre-emption
15 rights* 9,738,976 83.51 1,923,191 16.49 11,662,167 846,162
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
Authority to further disapply
16 pre-emption rights* 9,727,724 83.40 1,935,924 16.60 11,663,648 844,681
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
Authority to purchase own
17 shares* 12,450,454 99.58 52,358 0.42 12,502,812 5,517
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
Authority to call a general
meeting (other than the
Annual General Meeting)
18 on 14 clear days' notice* 12,468,183 99.71 36,473 0.29 12,504,656 3,673
---------------------------------- ----------- ------ ---------- ---------- ----------- ----------
* Special resolution requiring 75% majority.
Notes:
1. Any proxy appointments which give discretion to the Chair
have been included in the "for" total.
2. The total number of shares in issue is 32,924,877.
3. A "vote withheld" is not a vote in law and is not counted in
the calculation of the proportion of the votes "for" or "against" a
resolution.
4. The meeting was adjourned and the remaining business of the
AGM being resolutions 1 to 4 (inclusive) will be put to vote at a
later date, following the publication of the 2023 annual report and
accounts.
UK Corporate Governance Code - statement regarding voting
result
The board notes that although Resolution 13 (auditor
remuneration) passed with the requisite majority, it received more
than 20% of votes against the board's recommendation. We thank
shareholders for their support and the Board will look to continue
engagement throughout the year. The board encourages an open and
constructive dialogue directly with shareholders and continue to be
willing to engage with any shareholder on any relevant topics
should they so wish.
Nigel Payne, Chairman said:
" I am delighted that all of the board's recommended resolutions
were supported today by our shareholders.
I am especially pleased that resolutions 9 and 13 were
supported, notwithstanding recommended votes against by certain
unregulated proxy shareholder companies, some of whose policies now
diverge from recommended FRC guidance , which the board has
followed.
The board's policy remains, wherever possible to not take
account of shareholder voting that has clearly followed that
recommended voting by unregulated proxy shareholders unless there
has been direct engagement from the shareholder with the
company".
Availability of documents
In accordance with Listing Rule 9.6.2, full details of the
resolutions will be submitted to the National Storage Mechanism and
will shortly be available for inspection at: National Storage
Mechanism | FCA .
For further information, contact:
Braemar Plc
James Gundy, Group Chief Executive Officer Tel +44 (0) 20 3142 4100
Grant Foley, Group Chief Financial Officer
Rebecca-Joy Wekwete, Company Secretary
Investec Bank plc
Gary Clarence / Harry Hargreaves / Alice Tel +44 (0) 20 7597 5970
King
Cenkos Securities plc
Tel +44 (0) 20 7397 8900
Ben Jeynes / Max Gould (Corporate Finance)
Alex Pollen / Leif Powis (Sales)
Buchanan
Charles Ryland / Jamie Hooper / Jack Tel +44 (0) 20 7466 5000
Devoy
Notes to Editors:
About Braemar Plc
Braemar provides expert advice in shipping investment,
chartering, and risk management to enable its clients to secure
sustainable returns and mitigate risk in the volatile world of
shipping. Our experienced brokers work in tandem with specialist
professionals to form teams tailored to our customers' needs, and
provide an integrated service supported by a collaborative
culture.
Braemar joined the Official List of the London Stock Exchange in
November 1997 and trades under the symbol BMS. For more
information, including our investor presentation, please visit
www.braemar.com and follow Braemar on LinkedIn .
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END
RAGFIFEATSIAIIV
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