19 June 2024
Maintel Holdings Plc
(the "Company" or "Maintel")
Results of Annual General Meeting
Results of Annual General Meeting
The Annual General Meeting of Maintel Holdings Plc was held at 25 Charterhouse Square, London, EC1M 6AE on 19 June 2024 at 10:30am.
All 11 resolutions were put to members via a poll. Resolutions 1 to 8 were passed as ordinary resolutions and Resolution 11 was passed as a special resolution. Resolutions 9 and 10 did not pass as special resolutions.
The number of votes cast for and against each of the resolutions proposed, and the number of votes withheld were as follows:
| Resolution | Votes for | % | Votes against | % | Votes withheld |
| Resolution 1 (Ordinary) To receive the financial statements of the Company for the year ended 31 December 2023, together with the strategic report, the report of the directors and the independent auditor's report thereon. | 10,344,428 | 100.00 | 0 | 0.00 | 0 |
| Resolution 2 (Ordinary) To approve the report of the remuneration committee (other than the section containing the directors' remuneration policy) for the year ended 31 December 2023. | 7,958,654 | 83.42 | 1,581,474 | 16.58 | 804,300 |
| Resolution 3 (Ordinary) To re-appoint Clare Bates as a director of the Company. | 10,342,278 | 99.98 | 2,150 | 0.02 | 0 |
| Resolution 4 (Ordinary) To re-appoint Daniel Davies as a director of the Company. | 10,342,278 | 99.98 | 2,150 | 0.02 | 0 |
| Resolution 5 (Ordinary) To re-appoint Gabriel Pirona as a director of the Company | 10,342,195 | 99.98 | 2,233 | 0.02 | 0 |
| Resolution 6 (Ordinary) To re-appoint RSM UK Audit LLP as auditor of the Company to hold office from the conclusion of the meeting to the conclusion of the next meeting at which accounts are laid before the Company. | 10,335,628 | 99.91 | 8,800 | 0.09 | 0 |
| Resolution 7 (Ordinary) To authorise the Board to determine the remuneration of the auditor. | 10,344,428 | 100.00 | 0 | 0.00 | 0 |
| Resolution 8 (Ordinary) To authorise the directors to allot relevant securities pursuant to section 551 of the Companies Act 2006, as set out in the Notice of Meeting. | 7,694,428 | 74.38 | 2,650,000 | 25.62 | 0 |
| Resolution 9 (Special) To authorise the limited disapplication of pre-emption rights pursuant to section 570 of the Companies Act 2006, as set out in the Notice of Meeting. | 7,615,889 | 73.62 | 2,728,539 | 26.38 | 0 |
| Resolution 10 (Special) To authorise the additional limited disapplication of pre-emption rights pursuant to section 570 of the Companies Act 2006, as set out in the Notice of Meeting. | 7,615,889 | 73.62 | 2,728,539 | 26.38 | 0 |
| Resolution 11 (Special) To authorise the purchase by the Company of its own shares. | 10,335,628 | 99.91 | 8,800 | 0.09 | 0 |
As at 19 June 2024, there were 14,361,492 ordinary shares in issue. Shareholders are entitled to one vote per share. Votes withheld are not votes in law and so have not been included in the calculation of the proportion of votes for and against a resolution.
The full text of each resolution is available in the Notice of Annual General Meeting, published on our website.
Resolutions 8, 9 and 10
While the Board is pleased that Resolution 8 was carried, the Board notes that there were a significant number of votes against it and will seek to understand the reasons therefore through consultation with shareholders. The Board further notes that Resolutions 9 and 10, being special resolutions, did not gain the requisite support to be carried despite seeking authorities significantly below the levels approved by the Pre-Emption Group. The Board will seek to understand the concerns of shareholders voting against those resolutions.
For further information please contact:
| Maintel Holdings PLC | Tel: 0344 871 1122 |
| Dan Davies, Interim Chief Executive Officer Gab Pirona, Chief Financial Officer |
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| Cavendish (Nomad and Broker) | Tel: 020 7220 0500 |
| Jonny Franklin-Adams / Hamish Waller (Corporate Finance) Sunila de Silva (Corporate Broking)
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| Hudson Sandler (Financial PR) | Tel: 020 7796 4133 |
| Wendy Baker / Nick Moore / Eloise Fleet |
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