6 June 2024
Inspecs Group plc
("Inspecs" the "Company" or "the Group")
Result of AGM
Inspecs Group plc, a leading designer, manufacturer, and distributor of eyewear (sunglasses, optical frames, lenses and low vision products), 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 | 73,109,751 | 100.00% | 0 | 0.00% | 0 | 73,109,751 |
| 2. | Ordinary resolution to approve the directors' remuneration report | 71,889,177 | 98.33% | 1,219,764 | 1.67% | 810 | 73,108,941 |
| 3. | Ordinary resolution to re-elect Robin Totterman as a director of the Company. | 71,892,523 | 99.97% | 19,882 | 0.03% | 1,197,346 | 71,912,405 |
| 4. | Ordinary resolution to re-elect Richard Peck as a director of the Company. | 73,089,369 | 99.97% | 19,882 | 0.03% | 500 | 73,109,251 |
| 5.
| Ordinary resolution to re-elect Christopher Kay as a director of the Company. | 55,266,609 | 75.59% | 17,842,642 | 24.41% | 500 | 73,109,251 |
| 6.
| Ordinary resolution to re-elect Christopher Hancock as a director of the Company. | 71,892,323 | 98.34% | 1,216,928 | 1.66% | 500 | 73,109,251 |
| 7.
| Ordinary resolution to re-elect Angela Farrugia as a director of the Company. | 73,089,369 | 99.97% | 20,382 | 0.03% | 0 | 73,109,751 |
| 8.
| Ordinary resolution to elect Shaun Smith as a director of the Company. | 71,915,071 | 98.37% | 1,194,180 | 1.63% | 500 | 73,109,251 |
| 9. | Ordinary resolution to elect Hugo Adams as a director of the Company. | 73,089,369 | 99.97% | 19,882 | 0.03% | 500 | 73,109,251 |
| 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. | 73,092,920 | 99.98% | 16,631 | 0.02% | 200 | 73,109,551 |
| 11.
| Ordinary resolution to authorise the directors to determine the remuneration of the auditors | 73,092,810 | 99.98% | 16,631 | 0.02% | 310 | 73,109,441 |
| 12.
| Ordinary resolution to enable the Company and each of its subsidiaries to make political donations and expenditure. | 65,456,002 | 89.53% | 7,651,960 | 10.47% | 1,789 | 73,107,962 |
| 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. | 73,089,384 | 99.97% | 20,167 | 0.03% | 200 | 73,109,551 |
| 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. | 64,488,514 | 88.21% | 8,621,037 | 11.79% | 200 | 73,109,551 |
| 15. | Special Resolution to further disapply pre-emption rights in relation to acquisitions or other capital investments. | 64,483,674 | 88.20% | 8,624,288 | 11.80% | 1,789 | 73,107,962 |
| 16. | Special resolution to authorise the Company to make market purchases of up to 10,167,152 ordinary shares (which represents approximately 10 per cent of the Company's ordinary shares (excluding treasury shares) in issue on 31 December 2023). | 73,093,120 | 99.98% | 16,631 | 0.02% | 0 | 73,109,751 |
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) George Sellar Andrew Clark
| Tel: +44 (0) 20 7418 8900 |
| FTI Consulting (Financial PR) Alex Beagley Harriet Jackson Amy Goldup
| Tel: +44 (0) 20 3727 1000 |
About Inspecs Group plc
INSPECS is a leading provider of eyewear solutions to the global eyewear market. The Group produces a broad range of eyewear frames, low vision aids and lenses, covering optical, sunglasses and safety, which are either "Branded" (under licence or under the Group's own proprietary brands), or "OEM" (unbranded or private label on behalf of retail customers).
INSPECS is building a global eyewear business through its vertically integrated business model. Its continued growth is underpinned by six core pillars: increasing the penetration of its own-brand portfolio, increasing distribution, growing its travel retail markets, maximising group synergies, expanding its manufacturing capacity and scaling the research and development department as it develops new and innovative eyewear products.
The Group 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.
INSPECS customers are global optical and non-optical retailers, global distributors and independent opticians. Its distribution network covers over 80 countries and reaches approximately 75,000 points of sale.
More information is available at: https://inspecs.com
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