RNS Number : 8129I
Braemar PLC
09 August 2023
 

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9 August 2023

 

BRAEMAR PLC

(the "Company")

Results of Annual General Meeting

Braemar Plc (LSE: BMS), a provider of expert investment, chartering, and risk management advice to the shipping and energy markets, is pleased to announce that each of the resolutions proposed at its Annual General Meeting held earlier today were duly passed by means of a poll vote as set out below.

 

Resolution

Votes For

% For

Votes Against

% Against

Total Votes

Votes Withheld

5

Re-election of Elizabeth Gooch as a director

11,847,481

94.85

642,900

5.15

12,490,381

17,948

6

Re-election of James Gundy as a director

11,517,271

93.14

848,065

6.86

12,365,336

142,993

7

Re-election of Nigel Payne as a director

11,643,278

93.24

843,733

6.76

12,487,011

21,318

8

Re-election of Tris Simmonds as a director

11,519,430

92.24

968,701

7.76

12,488,131

20,198

9

Re-election of Joanne Lake as a director

10,254,210

82.10

2,235,171

17.90

12,489,381

18,948

10

Election of Cat Valentine as a director

12,442,282

99.63

46,390

0.37

12,488,672

19,657

11

Election of Grant Foley as a director

12,126,191

97.08

364,697

2.92

12,490,888

17,441

12

Re-appointment of BDO LLP as auditors

 

10,709,141

85.70

1,786,854

14.30

12,495,995

12,334

13

Authority to determine the auditor's remuneration

8,180,568

67.12

4,007,564

32.88

12,188,132

320,197

14

Authority to allot share capital

10,938,551

93.80

722,961

6.20

11,661,512

846,817

15

Authority to disapply pre-emption rights*

9,738,976

83.51

1,923,191

16.49

11,662,167

846,162

16

Authority to further disapply pre-emption rights*

9,727,724

83.40

1,935,924

16.60

11,663,648

844,681

17

Authority to purchase own shares*

12,450,454

99.58

52,358

0.42

12,502,812

5,517

18

Authority to call a general meeting (other than the Annual General Meeting) on 14 clear days' notice*

12,468,183

99.71

36,473

0.29

12,504,656

3,673

 

* Special resolution requiring 75% majority.

 

Notes:

1.     Any proxy appointments which give discretion to the Chair have been included in the "for" total.

2.     The total number of shares in issue is 32,924,877.

3.     A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" or "against" a resolution.

4.     The meeting was adjourned and the remaining business of the AGM being resolutions 1 to 4 (inclusive) will be put to vote at a later date, following the publication of the 2023 annual report and accounts.

 

UK Corporate Governance Code - statement regarding voting result

The board notes that although Resolution 13 (auditor remuneration) passed with the requisite majority, it received more than 20% of votes against the board's recommendation. We thank shareholders for their support and the Board will look to continue engagement throughout the year. The board encourages an open and constructive dialogue directly with shareholders and continue to be willing to engage with any shareholder on any relevant topics should they so wish.

Nigel Payne, Chairman said:

"I am delighted that all of the board's recommended resolutions were supported today by our shareholders. 

I am especially pleased that resolutions 9 and 13 were supported, notwithstanding recommended votes against by certain unregulated proxy shareholder companies, some of whose policies now diverge from recommended FRC guidance , which the board has followed. 

The board's policy remains, wherever possible to not take account of shareholder voting that has clearly followed that recommended voting by unregulated proxy shareholders unless there has been direct engagement from the shareholder with the company".

Availability of documents

In accordance with Listing Rule 9.6.2, full details of the resolutions will be submitted to the National Storage Mechanism and will shortly be available for inspection at: National Storage Mechanism | FCA.

 

For further information, contact:

Braemar Plc



James Gundy, Group Chief Executive Officer

Tel +44 (0) 20 3142 4100

Grant Foley, Group Chief Financial Officer


Rebecca-Joy Wekwete, Company Secretary


Investec Bank plc


Gary Clarence / Harry Hargreaves / Alice King

Tel +44 (0) 20 7597 5970

Cenkos Securities plc

 

Ben Jeynes / Max Gould (Corporate Finance)

 

Alex Pollen / Leif Powis (Sales)

 

Tel +44 (0) 20 7397 8900

Buchanan


Charles Ryland / Jamie Hooper / Jack Devoy

Tel +44 (0) 20 7466 5000

 

Notes to Editors:

 

About Braemar Plc

Braemar provides expert advice in shipping investment, chartering, and risk management to enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping. Our experienced brokers work in tandem with specialist professionals to form teams tailored to our customers' needs, and provide an integrated service supported by a collaborative culture.

 

Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS. For more information, including our investor presentation, please visit www.braemar.com and follow Braemar on LinkedIn.

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