26 January 2024
On The Beach Group plc (the "Company")
Result of Annual General Meeting
The Board of the Company announces that at its Annual General Meeting ("AGM") held today, all the resolutions considered at the AGM were duly passed by the required majority by means of a poll vote.
Banking Facility Update
Further to On the Beach's year to date trading update (FY24) published today, it has today exercised a £25m accordion pursuant to its existing revolving credit facility ("RCF") agreement. This is in order to support additional volumes in a growing market and is expected to remain in place for up to 18 months.
The results of the poll votes on the AGM resolutions are shown in the table below:
| | Resolution | Votes for | Votes against | Total votes cast (excl. withheld) | Votes withheld | ||
| | | No. of votes | % of vote | No. of votes | % of vote | No. of votes | No. of votes |
| 1. | To receive the report & accounts | 110,634,124 | 99.99 | 5,569 | 0.01 | 110,639,693 | 510,036 |
| 2. | To approve the Directors' remuneration report | 100,721,123 | 92.78 | 7,840,165 | 7.22 | 108,561,288 | 2,588,441 |
| 3. | To re-appoint Richard Pennycook | 108,284,048 | 97.87 | 2,355,013 | 2.13 | 110,639,061 | 510,668 |
| 4. | To re-appoint Simon Cooper as a Director | 109,633,735 | 98.65 | 1,505,275 | 1.35 | 111,139,010 | 10,719 |
| 5. | To re-appoint Shaun Morton | 109,638,686 | 98.65 | 1,503,058 | 1.35 | 111,141,744 | 7,985 |
| 6. | To re-appoint David Kelly as a Director | 110,297,705 | 99.24 | 844,038 | 0.76 | 111,141,743 | 7,986 |
| 7. | To re-appoint Elaine O'Donnell as a director | 110,296,905 | 99.24 | 844,838 | 0.76 | 111,141,743 | 7,986 |
| 8. | To re-appoint Justine Greening as a director | 105,300,501 | 94.75 | 5,840,253 | 5.25 | 111,140,754 | 8,975 |
| 9. | To appoint Zoe Harris as a director | 109,637,886 | 98.65 | 1,503,858 | 1.35 | 111,141,744 | 7,985 |
| 10. | To appoint Veronica Sharma as a director | 111,135,375 | 99.99 | 6,369 | 0.01 | 111,141,744 | 7,985 |
| 11. | To appoint Jon Wormald as a director | 109,633,735 | 98.65 | 1,505,275 | 1.35 | 111,139,010 | 10,719 |
| 12. | To re-appoint Ernst & Young LLP as auditors | 110,631,183 | 99.54 | 508,458 | 0.46 | 111,139,641 | 10,088 |
| 13. | To authorise the directors to determine the auditor's remuneration | 111,136,599 | 99.99
| 5,776 | 0.01 | 111,142,375
| 7,354 |
| 14. | To authorise the directors to allot shares | 107,246,402 | 96.50 | 3,893,239 | 3.50 | 111,139,641 | 10,088 |
| 15. | To authorise political donations | 109,824,103 | 98.81 | 1,318,272 | 1.19 | 111,142,375 | 7,354 |
| 16. | To dis-apply statutory pre-emption rights | 110,467,127 | 99.40 | 670,183 | 0.60 | 111,137,310 | 12,419 |
| 17. | To dis-apply statutory pre-emption rights (acquisition or capital investment) | 109,212,748 | 98.27 | 1,924,562 | 1.73 | 111,137,310 | 12,419 |
| 18. | To authorise the purchase of own shares | 110,619,019 | 99.55 | 503,356 | 0.45 | 111,122,375 | 27,354 |
| 19. | To reduce the notice period required for General Meetings | 109,536,124 | 98.56 | 1,601,816 | 1.44 | 111,137,940 | 11,789 |
Notes:
1. A 'Vote withheld' is not a vote in law and is not counted in the calculation of the proportion of the votes 'For' and 'Against' any resolution.
2. The Company's total ordinary shares in issue (total voting rights) as at the date of the AGM was 166,718,520 ordinary shares of £0.01 each. Ordinary shareholders are entitled to one vote per ordinary share held.
3. Resolutions 16 to 19 were passed as special resolutions.
4. In accordance with paragraph 9.6.2 of the LSE Listing Rules, a copy of the resolutions passed as special business at the AGM have been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
| For further information:
On the Beach Group plc Shaun Morton, Chief Executive Officer Jon Wormald, Chief Financial Officer Kirsteen Vickerstaff, Company Secretary
|
c/o FTI Consulting |
| FTI Consulting Alex Beagley Fiona Walker Harriet Jackson
| Tel: +44 (0)20 3727 1000 |
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