RNS Number : 4835Y
Lamprell plc
06 September 2022
 

 

6 September 2022

 

 

LAMPRELL PLC
("Lamprell" and with its subsidiaries the "Group")

 

RESULTS OF 2022 AGM

 

 

The Company held its 2022 Annual General Meeting today at 5.00PM local time, at the Lamprell Hamriyah offices in Sharjah, United Arab Emirates.  Meeting attendance was reduced to the minimum necessary quorum of shareholders, facilitated by the Company. 

 

All valid proxy votes (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting. Resolutions 6, 7, 12 and 13 were not put to the meeting as they related to the appointment of Non-Executive Directors that had stepped down from the Board since publication of the Notice of Annual General Meeting.  All other resolutions set out in the Notice of Annual General Meeting were passed by the requisite majority except for Resolution 2, further details of which are set out below.

 

Each of the resolutions put to the Annual General Meeting was voted on by way of a poll and the results are set out below:

 

 

Resolution no

Resolution

TOTAL SHARES VOTED

FOR/ DISCRETION

%

AGAINST

%

WITHHELD

 

Ordinary Business

 






1

2021 Report and Accounts

275,879,439

275,858,086

99.9

21,353

<0.1

1,685,233

2

Approve the 2021 Annual Report on Remuneration

52,862,579

6,403,161

12.1

46,459,418

87.9

224,702,093

3

Re-elect John Malcolm as a director of the Company

277,520,636

274,819,605

99.0

2,701,031

1.0

44,036

4

Re-elect Christopher McDonald as a director of the Company

277,520,636

277,455,045

99.9

65,591

<0.1

44,036

5

Re-elect Antony Wright as a director of the Company

277,460,636

277,394,789

99.9

65,847

<0.1

104,036

8

Re-elect Debra Valentine as a director of the Company

277,520,636

254,120,131

91.6

23,400,505

8.4

44,036

 

9

Re-elect Debra Valentine as a director of the Company (Independent Shareholder vote)

158,088,345

152,194,665

96.3

5,893,680

3.7

44,036

1o

Re-elect Mel Fitzgerald as a director of the Company

275,869,840

258,567,027

93.7

17,302,813

6.3

1,694,832

11

Re-elect Mel Fitzgerald as a director of the Company (Independent Shareholder vote)

156,437,549

154,517,449

98.8

1,920,100

1.2

1,694,832

14

Re-appoint Deloitte LLP as auditors of the Company

277,531,235

275,858,133

99.4

1,673,102

0.6

33,437

15

Authorise the Audit & Risk Committee to fix the auditors' remuneration

277,530,235

277,513,813

99.9

16,422

<0.1

34,437


Special Business







16

Authorise the directors to allot shares pursuant to Article 5.1

277,531,035

277,400,646

99.9

130,389

<0.1

33,637

17

Pre-emption rights pursuant to Article 5.2

277,531,035

274,684,429

99.0

2,846,606

1.0

33,637

18

Directors' authority to make market purchases of its own shares

173,068,688

171,370,867

99.0

1,697,821

1.0

104,495,984

 

 

Resolution 2 - Directors' Remuneration Report 2021

 

The Board thanks those shareholders voting for their support at the 2022 AGM.  We note, however, that a majority of shareholders voting did not approve resolution 2 (Approve the Directors' Remuneration Report for 2021).  This vote (as in past years) was a voluntary and non-binding resolution. 

 

The Board will reflect on the implications of this vote but notes that shareholders are being asked to approve the delisting of the Company and its re-registration as a private company at an Extraordinary General Meeting to be held on 26 September 2022.

 

 

 

Notes:

 

1. Any proxy appointments which gave discretion to the Chairman have been included in the 'FOR' total.

 

2. A 'VOTE WITHHELD' is not a vote in law and is not counted in the calculation of the proportion of votes for or against a resolution and is not included in the total proxy votes received for each resolution.

 

3. Number of ordinary shares of 5 pence each in issue at meeting date: 412,817,636.

 

4. The Controlling Shareholder (as defined in the AGM Notice) was not eligible to vote on resolutions 9 and 11.  Voting on resolutions 9 and 11 was by Independent Shareholders (as defined in the AGM Notice) only.  The Controlling Shareholder holds a total of 119,432,291 Ordinary Shares, equating to 28.9% of the issued ordinary share capital with voting rights.

 

5. Copies of the resolutions passed as Special Business will be submitted to the National Storage Mechanism and will be available for inspection at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

 

 

- Ends -

 

 

Enquiries:

 

Lamprell plc

 

Maria Babkina, Investor Relations

+44 (0) 7852 618 046


 

 

 

Tulchan Communications, London

+44 (0) 207 353 4200

Martin Robinson


Martin Pengelley




 

 

Notes to editors

Lamprell is a leading provider of services to the international energy sector. Driving strategy and growth through its Renewables, Oil & Gas and Digital business units, underpinned by almost half a century of expertise, the Group has worked hard to establish its reputation for delivering projects safely, on time and to budget.

The Group has firmly established its international credentials in the renewables sector as well as continuing to build on its traditional oil and gas credentials. We are recognised for building complex offshore and onshore process modules and platforms, fabricating and refurbishing jack-up rigs and liftboats.

Lamprell employs more than 4,000 people across multiple facilities, with its primary facilities located in Hamriyah, in the UAE. Combined, the Group's facilities cover approximately 800,000m2 with over 1.5 km of quayside. In addition, the Group has facilities in Saudi Arabia (through a joint venture agreement). Lamprell is listed on the London Stock Exchange (symbol "LAM")."

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