15 June 2023
Inspecs Group plc
("Inspecs" the "Company" or "the Group")
Result of AGM
Inspecs Group plc, a leading designer, manufacturer and distributor of eyewear frames, announces that at the Annual General Meeting held earlier today, all resolutions were duly passed.
| Resolution | For | Against | Withheld | Total votes cast | |||
| Number of votes | % | Number of votes | % | Number of votes |
| ||
| 1. | Ordinary resolution to receive and adopt the Company's annual accounts and reports | 77,826,788 | 100.00% | 0 | 0.00% | 1,057 | 77,826,788 |
| 2. | Ordinary resolution to approve the directors' remuneration report | 61,776,882 | 81.89% | 13,657,909 | 18.11% | 2,393,054 | 75,434,791 |
| 3. | Ordinary resolution to re-elect Robin Totterman as a director of the Company. | 73,038,722 | 94.66% | 4,119,643 | 5.34% | 669,480 | 77,158,365 |
| 4. | Ordinary resolution to re-elect Richard Peck as a director of the Company. | 77,765,588 | 100.00% | 1,200 | 0.00% | 61,057 | 77,766,788 |
| 5.
| Ordinary resolution to re-elect Christopher Kay as a director of the Company. | 77,765,588 | 100.00% | 1,200 | 0.00% | 61,057 | 77,766,788 |
| 6.
| Ordinary resolution to re-elect Christopher Hancock as a director of the Company. | 73,274,288 | 97.13% | 2,162,278 | 2.87% | 2,391,279 | 75,436,566 |
| 7.
| Ordinary resolution to re-elect Angela Farrugia as a director of the Company. | 72,702,533 | 93.49% | 5,064,255 | 6.51% | 61,057 | 77,766,788 |
| 8.
| Ordinary resolution to elect Shaun Smith as a director of the Company. | 77,765,788 | 100.00% | 1,000 | 0.00% | 61,057 | 77,766,788 |
| 9. | Ordinary resolution to elect Hugo Adams as a director of the Company. | 77,765,788 | 100.00% | 1,000 | 0.00% | 61,057 | 77,766,788 |
| 10. | Ordinary resolution to re-appoint Ernst & Young LLP as the Company's auditors to hold office from the conclusion of this meeting until the conclusion of the next meeting, in accordance with normal practice. | 77,820,975 | 99.99% | 5,410 | 0.01% | 1,460 | 77,826,385 |
| 11.
| Ordinary resolution to authorise the directors to determine the remuneration of the auditors | 77,826,788 | 100.00% | 0 | 0.00% | 1,057 | 77,826,788 |
| 12.
| Ordinary resolution to enable the Company and each of its subsidiaries to make political donations and expenditure. | 71,979,083 | 92.56% | 5,786,802 | 7.44% | 61,960 | 77,765,885 |
| 13. | Ordinary resolution to authorise the directors to allot ordinary shares in the Company up to a maximum nominal amount of £338,905.08 and up to a further maximum nominal amount of £338,905.08 where the allotment is in connection with an offer by way of a rights issue. | 77,762,885 | 100.00% | 3,500 | 0.00% | 61,460 | 77,766,385 |
| 14. | Special resolution to enable the directors to allot, grant options over or otherwise dispose of equity securities for cash or sell treasury shares for cash up to a maximum aggregate nominal amount of £101,671.52 as if pre-emption rights did not apply to such allotment. | 66,032,162 | 84.91% | 11,734,626 | 15.09% | 61,057 | 77,766,788 |
| 15. | Special Resolution to further disapply pre-emption rights in relation to acquisitions or other capital investments. | 66,032,162 | 84.91% | 11,734,626 | 15.09% | 61,057 | 77,766,788 |
| 16. | Special resolution to authorise the Company to make market purchases of up to 10,167,153 ordinary shares (which represents approximately 10 per cent of the Company's ordinary shares (excluding treasury shares) in issue on 31 December 2022). | 77,825,606 | 100.00% | 310 | 0.00% | 1,929 | 77,825,916 |
For further information please contact:
| Inspecs Group plc Richard Peck (CEO) Chris Kay (CFO)
| via FTI Consulting Tel: +44 (0) 20 3727 1000 |
| Peel Hunt (Nominated Adviser and Broker) Adrian Trimmings Andrew Clark Lalit Bose
| Tel: +44 (0) 20 7418 8900 |
| FTI Consulting (Financial PR) Alex Beagley Harriet Jackson Alice Newlyn
| Tel: +44 (0) 20 3727 1000 |
About Inspecs Group plc
INSPECS is a Bath-based designer, manufacturer and distributor of eyewear frames and optically advanced spectacle lenses. The Group produces a broad range of frames and lenses, covering optical, sunglasses and safety, which are either "Branded" (either under licence or under the Group's own proprietary brands), or "OEM" (including private label on behalf of retail customers, as well as unbranded).
INSPECS aims to be the leader in eyewear solutions through its vertically-integrated business model and has adopted a three-pillar growth strategy to achieve this: (i) continue to grow organically; (ii) undertake further acquisitions (and drive value through leveraging the Group's internal capabilities); and (iii) extend the Group's manufacturing capacity.
INSPECS customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 75,000 points of sale.
INSPECS has operations across the globe: with offices and subsidiaries in the UK, Germany, Portugal, Scandinavia, the US and China (including Hong Kong, Macau and Shenzhen), and manufacturing facilities in Vietnam, China, the UK and Italy.
More information is available at: https://inspecs.com
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