3 July 2024
BRAEMAR PLC
(the "Company")
Results of 2024 Annual General Meeting
Braemar Plc (LSE: BMS), a leading 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.
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| Resolution | Votes For | % For | Votes Against | % Against | Total Votes | Votes Withheld |
| 1. | To receive the Company's audited accounts for the year ended 29 February 2024 (incorporating the directors' report and auditor's report). | 10,556,402 | 96.03 | 436,360 | 3.97 | 10,992,762 | 56,246 |
| 2. | To approve the directors' remuneration report for the year ended 29 February 2024. | 6,034,754 | 54.90 | 4,958,251 | 45.10 | 10,993,005 | 56,003 |
| 3. | To approve a final dividend of nine pence per ordinary share for the year ended 29 February 2024, to be paid on 9 September 2024. | 10,866,710 | 98.37 | 179,880 | 1.63 | 11,046,590 | 2,418 |
| 4. | To re-elect Grant Foley as a director of the Company. | 10,717,905 | 97.09 | 321,373 | 2.91 | 11,039,278 | 9,730 |
| 5. | To re-elect Elizabeth Gooch as a director of the Company. | 8,652,699 | 78.34 | 2,392,766 | 21.66 | 11,045,465 | 3,543 |
| 6. | To re-elect James Gundy as a director of the Company. | 9,356,925 | 84.87 | 1,668,597 | 15.13 | 11,025,522 | 23,486 |
| 7. | To re-elect Joanne Lake as a director of the Company. | 8,847,683 | 80.10 | 2,197,782 | 19.90 | 11,045,465 | 3,543 |
| 8. | To re-elect Nigel Payne as a director of the Company. | 8,673,028 | 78.63 | 2,357,494 | 21.37 | 11,030,522 | 18,486 |
| 9. | To re-elect Tristram Simmonds as a director of the Company. | 8,190,607 | 74.20 | 2,847,940 | 25.80 | 11,038,547 | 10,461 |
| 10. | To re-elect Catriona Valentine as a director of the Company. | 10,776,411 | 97.57 | 267,867 | 2.43 | 11,044,278 | 4,730 |
| 11. | To re-appoint BDO LLP as auditor to the Company. | 8,902,456 | 80.67 | 2,133,474 | 19.33 | 11,035,930 | 13,078 |
| 12. | To authorise the Audit & Risk Committee of the Company to determine BDO LLP's remuneration. | 9,836,295 | 89.11 | 1,201,818 | 10.89 | 11,038,113 | 10,895 |
| 13. | Authority to allot share capital. | 10,455,090 | 95.06 | 543,135 | 4.94 | 10,998,225 | 50,783 |
| 14. | To approve the rules of the Long-Term incentive plan. | 8,699,813 | 79.17 | 2,289,077 | 20.83 | 10,988,890 | 60,118 |
| 15. | Authority to disapply pre-emption rights* | 9,299,800 | 84.46 | 1,711,231 | 15.54 | 11,011,031 | 37,977 |
| 16. | Authority to further disapply pre-emption rights* | 9,331,375 | 84.70 | 1,686,246 | 15.30 | 11,017,621 | 31,387 |
| 17. | Authority to purchase own shares* | 10,980,615 | 99.41 | 65,323 | 0.59 | 11,045,938 | 3,070 |
| 18. | Authority to call a general meeting (other than the Annual General Meeting) on 14 clear days' notice* | 10,758,992 | 97.40 | 287,598 | 2.60 | 11,046,590 | 2,418 |
* 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.
UK Corporate Governance Code - statement regarding voting result
The board notes that although resolutions 2,5,8,9 and 14 passed with the requisite majorities, they received more than 20% of votes against the board's recommendation. The board encourages an open and constructive dialogue directly with shareholders and continues to be willing to engage with any shareholder on any relevant topics should they choose to do so.
ENDS
For further information, contact:
| Braemar Plc | |
| James Gundy, Group Chief Executive Officer | Tel +44 (0) 20 3142 4100 |
| Grant Foley, Group Chief Financial Officer
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| Rebecca-Joy Wekwete, Company Secretary | |
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| Burson Buchanan | |
| Charles Ryland / Stephanie Whitmore / Jack Devoy / Abby Gilchrist | Tel +44 (0) 20 7466 5000 |
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| Investec Bank plc | |
| Gary Clarence / Alice King
| Tel +44 (0) 20 7597 5970 |
| | |
| Cavendish Capital Markets Limited Ben Jeynes / Matt Lewis (Corporate Finance) Leif Powis / Dale Bellis / Charlie Combe (Sales & ECM) |
Tel +44 (0) 20 7220 0500 |
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Notes to Editors:
About Braemar Plc
Braemar provides expert investment, chartering, and risk management advice that enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping and energy. 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, visit www.braemar.com and follow Braemar on LinkedIn.
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