Topps Tiles PLC Result of AGM

TIDMTPT

RNS Number : 4145G

Topps Tiles PLC

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                                                                 0116 282 8000 
  Secretary 
 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 , www.parkside.co.uk , www.protilertools.co.uk , www.northantstools.co.uk , www.premiumtiletrim.co.uk , www.warmfloorstore.co.uk and 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/

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July 18, 2023 10:09 ET (14:09 GMT)

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