Clinigen Group plc Update on 2019 AGM resolution vote (9661N)
May 26 2020 - 9:39AM
UK Regulatory
TIDMCLIN
RNS Number : 9661N
Clinigen Group plc
26 May 2020
RNS
26 May 2020
Update on 2019 AGM resolution vote
Clinigen Group plc (AIM: CLIN, 'Clinigen' or the 'Group'), the
global pharmaceutical and services company, provides an update
following the 31.59% of votes against the resolution to re-elect
Peter Allen ('Chairman') at its Annual General Meeting ('AGM') held
on 26 November 2019. This update is in accordance with the
requirement of Provision 4 of the UK Corporate Governance Code
(2018) (the 'Code').
Prior to and following the AGM held in November 2019, the Board
engaged with the Group's largest institutional investors and proxy
companies, to provide an opportunity for them to share their views
on corporate governance and to cover questions more generally.
The question of 'overboarding' has increased in prominence over
the last year, arising from concerns that Directors may not be able
to properly fulfil their duties where they have too many competing
commitments to other listed companies. The Board specifically
recognises that it is best practice for the Chairman not to be a
member of the Audit Committee. With this in mind, along with the
Board's commitment to comply with best practice where possible, Mr
Allen has relinquished his position as a member of the Audit and
Risk Committee with immediate effect. He will continue as Chairman
of the Nominations Committee and as a member of the Remuneration
Committee.
The Group has also noted that Mr Allen will step down as
Chairman of the Board of Diurnal Group on 30 June 2020, as
announced on 5 March 2020 by Diurnal Group plc.
The Board is confident that Mr Allen discharges his obligations
as Chairman notwithstanding his other obligations and believes that
Mr Allen provides effective leadership and manages Board meetings
extremely well. Further, the Board finds the additional insight
gained by his participation on other Boards to be of enormous
benefit.
The Group will continue to engage with shareholders on this
topic and will set out further details within the Group's 2020
Annual Report and Accounts.
Contact details
Clinigen Group plc Tel: +44 (0) 1283 495010
Shaun Chilton, Chief Executive Officer
Nick Keher, Chief Financial Officer
Matt Parrish, Head of Investor Relations
J.P.Morgan Cazenove - Nominated Adviser Tel: +44 (0) 20 7742 4000
& Joint Broker
James Mitford / Hemant Kapoor
RBC Capital Markets - Joint Broker Tel: +44 (0) 20 7653 4000
Marcus Jackson / Elliot Thomas
Instinctif Partners Tel: +44 (0) 20 7457 2020
Melanie Toyne-Sewell / Phillip Marriage Email: clinigen@instinctif.com
Notes to Editors
About Clinigen Group
Clinigen Group plc (AIM: CLIN) is a global pharmaceutical and
services company with a unique combination of businesses focused on
providing ethical access to medicines. Its mission is to deliver
the right medicine to the right patient at the right time through
three areas of global medicine supply; clinical trial, unlicensed
and licensed medicines. The Group has sites in North America,
Europe, Africa and Asia Pacific.
Clinigen now has over 1,100 employees across five continents in
14 countries, with supply and distribution hubs and operational
centres of excellence in key long-term growth regions. The Group
works with 22 of the top 25 pharmaceutical companies; interacting
with over 15,000 registered users across over 100 countries,
shipping approximately 6.4 million units in the year.
For more information on Clinigen, please visit
www.clinigengroup.com .
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END
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