Renold PLC Results of General Meeting (6525V)
April 15 2021 - 12:27PM
UK Regulatory
TIDMRNO
RNS Number : 6525V
Renold PLC
15 April 2021
For immediate release
15 April 2021
Renold Plc
("Renold" or the "Company")
Results of General Meeting
Renold, a leading international supplier of industrial chains
and related power transmission products, announces that the
resolutions seeking approval from Shareholders for the proposed
cancellation of the entire amount of the Company's share premium
account and capital redemption reserve (the "Reduction of Capital")
and the proposed amendments to its Articles of Association, were
passed at the General Meeting held earlier today.
The Reduction of Capital, as described in the circular sent to
shareholders on 29 March 2021 (the "Circular") and which is
available at the Company's website (investors.renold.com), remains
subject to the High Court's approval and an application will be
made to the Court in this regard.
Timetable of Principal Events
Expected Court Hearing to confirm 18 May 2021
Reduction of Capital
Expected registration of Court Order on or about 22 May 2021
and effective date of Reduction of
Capital
Further announcement will be issued in due course as
appropriate.
General Meeting Voting Results
The General Meeting voting was undertaken by way of a poll. The
poll results are set out below and will also be available on the
Company's website later today:
Resolution For % Against % Total cast % of ISC voted* Votes withheld**
That the entire
amount standing to
the credit of the
share premium
account of the
Company
1. be cancelled. 132,775,502 99.91 124,982 0.09 132,900,484 58.96 115,053
-------------------- ------------ ------ ---------- ----- ------------ ---------------- -----------------
2. That the entire 132,751,259 99.89 149,225 0.11 132,900,484 58.96 115,053
amount standing to
the credit of the
capital redemption
reserve of the
Company
be cancelled.
-------------------- ------------ ------ ---------- ----- ------------ ---------------- -----------------
3. That the Articles 126,970,995 95.53 5,936,617 4.47 132,907,612 58.96 107,925
of Association of
the Company be
amended.
-------------------- ------------ ------ ---------- ----- ------------ ---------------- -----------------
*The total number of voting shares in issue ("ISC") as at 14
April 2021 was 225,417,740 ordinary shares of 5p each.
**A vote withheld is not counted as a vote in law and therefore
is not counted in the % of votes "for" or "against" a
resolution.
Terms used in this announcement have the same meaning given to
them in the Circular.
ENQUIRIES:
Renold plc 0161 498 4500
Robert Purcell, Chief Executive
Jim Haughey, Group Finance
Director
Peel Hunt LLP 020 7418 8900
Mike Bell
Ed Allsopp
IFC Advisory Limited 020 3934 6630
Tim Metcalfe renold@investor-focus.co.uk
Graham Herring
NOTES FOR EDITORS
Renold is a global leader in the manufacture of industrial
chains and also manufactures a range of torque transmission
products which are sold throughout the world to a broad range of
original equipment manufacturers and distributors. The Company has
a well-deserved reputation for quality that is recognised
worldwide. Its products are used in a wide variety of industries
including manufacturing, transportation, energy, steel and
mining.
Further information about Renold can be found on the website at:
www.renold.com
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END
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