4 September 2024
Logistics Development Group plc
(or "LDG" or the "Company")
Results of General Meeting
LDG announces that, at a general meeting of the Company's shareholders held earlier today (the "General Meeting"), Resolution 1, as set out in the Notice of General Meeting dated 13 August 2024, was duly passed by shareholders by way of a poll. Resolution 2 was not passed.
As a result of the Waiver Resolution not passing, the Company will not be implementing the Share Buyback as contemplated in the circular to shareholders dated 13 August 2024 (the "Circular").
Full details of the voting at the General Meeting are set out in the table below.
Voting at the General Meeting
The results of the poll are set out below.
| No. | Resolution | In favour | Against | Total votes cast as a % of issued share capital | Votes withheld | ||
| Votes | % | Votes | % |
| |||
| 1. | Share Buyback Resolution | 176,986,267 | 80.38 | 43,191,483 | 19.62 | 41.99 | 56,253,562 |
| 2. | Waiver Resolution | 15,712,793 | 13.64 | 99,484,489 | 86.36 | 21.97 | 167,849,343 |
The full text of the resolutions above are set out in the Notice of General Meeting dated 13 August 2024.
As at 3 September 2024, the Company's issued share capital consisted of 524,350,394 ordinary shares, carrying one vote per share, with no LDG shares held by the Company in treasury. In accordance with LDG's Articles of Association, on a poll every member present in person or by proxy has one vote for every LDG share held.
In accordance with the terms of the Panel Waiver, only Independent Shareholders were entitled to vote on the Waiver Resolution. Therefore, any votes by members of the Concert Party in respect of the Waiver Resolution were not taken into account. Votes withheld are not votes in law and therefore have not been counted in the calculation of the proportion of the votes for and against any resolution. Link Group was appointed as the scrutineer for vote-taking at the General Meeting.
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Circular.
For enquiries:
| Logistics Development Group plc | Via FTI Consulting |
| FTI Consulting Nick Hasell Alex Le May | +44 (0) 20 3727 1340 |
| Strand Hanson Limited (Financial and Nominated Adviser) James Spinney Richard Johnson Abigail Wennington | +44 (0) 20 7409 3494 |
| Investec Bank plc (Broker) Gary Clarence Harry Hargreaves | +44 (0) 20 7597 5970 |
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