| For immediate release | 31 May 2022 |
SPORTECH PLC
('Sportech' or the 'Company')
Result of Annual General Meeting
The Annual General Meeting of Sportech PLC was held today, Tuesday, 31 May 2022 and the results of the proxy voting position received in advance of the meeting are reported below.
Resolutions 4 and 5 were withdrawn prior to the meeting.
| Resolution | For | Against | Withheld | Total votes cast | | |||
| | No. of votes | % | No. of votes | % |
|
| ||
| 1. Ordinary Resolution - to receive and adopt the Annual Report and Accounts
| 26,928,077 | 39.43 | 41,357,000 | 60.57 | 2,000 | 68,285,077 | ||
| 2. Ordinary Resolution - to receive and approve the Directors' Remuneration Report
| 21,181,343 | 31.02 | 47,105,734 | 68.98 | 0 | 68,287,077 | ||
| 3. Ordinary Resolution - to elect Nicola Rowlands as a Director
| 68,035,052 | 99.99 | 2,025 | 0.01 | 250,000 | 68,037,077 | ||
| 4. Ordinary Resolution - to elect Andrew Lindley as a Director
| Withdrawn | | ||||||
| 5. Ordinary Resolution - to elect Ben Warn as a Director
| Withdrawn | | ||||||
| 6. Ordinary Resolution - to elect Richard McGuire as a Director
| 67,893,951 | 99.42 | 393,126 | 0.58 | 0 | 68,287,077 | ||
| 7. Ordinary Resolution - to elect Clive Whiley as a Director
| 68,285,052 | 99.99 | 2,025 | 0.01 | 0 | 68,287,077 | ||
| 8. Ordinary Resolution - to re-appoint BDO LLP as auditors
| 46,685,875 | 68.37 | 21,601,202 | 31.63 | 0 | 68,287,077 | ||
| 9. Ordinary Resolution - to authorise the Directors to determine the auditor's fees
| 68,283,731 | 99.99 | 2,025 | 0.01 | 1,321 | 68,285,756 | ||
| 10. Ordinary Resolution - to authorise the Company to make political donations
| 68,278,152 | 99.99 | 8,925 | 0.01 | 0 | 68,287,077 | ||
| 11. Ordinary Resolution - To authorise the Directors to allot shares
| 68,285,052 | 99.99 | 2,025 | 0.01 | 0 | 68,287,077 | ||
| 12. Special Resolution - To authorise the Directors to disapply pre-emption rights (general authority)
| 67,650,497 | 99.99 | 2,025 | 0.01 | 634,555 | 67,652,522 | ||
| 13. Special Resolution - To disapply pre-emption rights (specific capital investment)
| 68,283,065 | 99.99 | 4,012 | 0.01 | 0 | 68,287,077 | ||
| 14. Special Resolution - To authorise the Directors to make market purchases of the Company's own Ordinary shares.
| 68,285,052 | 99.99 | 2,025 | 0.01 | 0 | 68,287,077 | ||
| 15. Special Resolution - To authorise calling of a general meeting other than annual general meetings on 14 clear days' notice.
| 68,285,052 | 99.99 | 2,025 | 0.01 | 0 | 68,287,077 | ||
Statement regarding voting results
The Board notes that Resolution 1 Adopting the Annual Report and Accounts and Resolution 2, receiving and approving the remuneration report did not receive the required 50% majority of votes in favour. In addition, Resolution 8, the reappointment of Auditors, only passed with a 69% majority. The Board has taken note of the voting and will engage further with major shareholders on these matters.
Notes:
*As announced on the 25 May 2022, Ben Warn decided to step down from his role as Non-Executive Director and did no stand for re-election. In addition, as announced this morning, Andrew Lindley stepped down from his role as Chief Executive Officer and did not stand for election.
A vote withheld is not a vote in law and is not counted in the calculation of the percentage of the votes validly cast for or against a resolution.
Publication on website
A copy of this announcement is also available on the Company's website at www.sportechplc.com.
Contacts:
| Sportech PLC
Richard McGuire, Non-Executive Chairman Clive Whiley, Senior Independent Director
| enquiries@sportechplc.com
|
|
Peel Hunt (Nominated Adviser and Broker)
George Sellar Andrew Clark Lalit Bose
|
Tel: +44 (0) 20 7418 8900
|
Notes to Editors:
About Sportech
Sportech is a technology supplier and operator in the gambling market with two core businesses: A digital omni channel platform for gaming verticals including its own in-house lottery module as its B2B offering. In B2C, the Company operates Sports Bars and other venues in the State of Connecticut USA where it deploys its exclusive licence to offer pari-mutuel wagering in the State and a distribution agreement with the Connecticut Lottery Corporation to offer sports betting in the State. It also has the exclusive licence to operate pari-mutuel betting online in Connecticut, which it does under the MyWinners.com brand, and a general licence for pari-mutuel betting online across the wider USA under the 123Bet.com brand.
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