18 October 2023
GATELEY (HOLDINGS) PLC
("Gateley" or the "Company")
AIM: GTLY
Result of AGM
At the Annual General Meeting of Gateley, held yesterday at 12.30pm, all the resolutions, other than resolution 10, which was a special resolution requiring over 75%, to amend the Company's Articles of association in order to allow virtual AGMs, were passed on a poll. The result of the poll voting (including all proxies) is detailed below.
| | Resolution | Votes For* | Votes Against | Votes Withheld |
| 1. | To receive the audited accounts of the Company | 49,490,185 | 226 | 0 |
| 2. | To approve the Directors' Remuneration Report | 47,103,067 | 2,348,328 | 39,016 |
| 3. | To declare a final dividend | 49,490,411 | 0 | 0 |
| 4. | To reappoint Roderick Richard Waldie as a Director | 47,228,492 | 2,210,053 | 51,866 |
| 5. | To reappoint Nigel Terrence Payne as a Director | 46,672,455 | 2,266,090 | 551,866 |
| 6. | To appoint Colin Robert Jones as a Director | 47,069,575 | 2,282,309 | 138,527 |
| 7. | To appoint MacIntyre Hudson LLP as auditors of the Company | 49,456,544 | 6,107 | 27,760 |
| 8. | To authorise the Directors to fix the remuneration of the auditors | 49,401,966 | 85,462 | 2,983 |
| 9. | To authorise the Directors to allot relevant securities | 46,835,472 | 2,286,675 | 368,264 |
| 10. | To adopt new articles of association** | 21,695,123 | 21,169,863 | 6,625,425 |
| 11. | To authorise the Directors to allot equity securities for cash** | 44,087,826 | 5,043,681 | 358,904 |
| 12. | To authorise the Directors to allot equity securities for an acquisition or capital investment** | 43,605,034 | 5,528,934 | 356,443 |
| 13. | To authorise the Company to purchase its own shares** | 48,488,358 | 96,610 | 905,443 |
| 14. | To authorise the rectification of historic dividends** | 49,468,889 | 522 | 21,000 |
| 15. | To authorise the reduction of capital** | 49,456,095 | 31,333 | 2,983 |
* Any proxy appointments, which gave discretion to the Chairman have been included in the 'For' votes total.
** Special resolution
Nigel Payne, Chairman of Gateley, said:
"The board is delighted that all resolutions, other than resolution 10, passed at yesterday's AGM. The board notes, with disappointment, the votes against resolution 10, being the board's resolution to amend the Company's Articles to allow virtual AGMs to take place. In the board's opinion, virtual AGMs are environmentally friendly, provide easier access to a broader range of shareholders and are commensurate with Gateley's ESG policies and responsible business principles. The board was keen to adopt this change with these factors in mind, particularly given that the attendance by external shareholders at the last four AGMs has been less than one person on average. The board will consider over the coming months if it intends to re-introduce the resolution at next year's AGM and if so, it will consult shareholders accordingly.
"The board also notes that a number of shareholders seem to have followed the direction from unregulated proxy voting advisers on this resolution without any consultation with the company. The board wishes to thank those shareholders that communicated directly with the company on this issue and would encourage all shareholders to so engage in future and not to simply follow unregulated advice."
Enquiries:
| Gateley (Holdings) Plc | |
| Neil Smith, Chief Financial Officer | Tel: +44 (0) 121 234 0196 |
| Nick Smith, Acquisitions Director and Head of Investor Relations | Tel: +44 (0) 20 7653 1665 |
| Cara Zachariou, Communications Director
| Tel: +44 (0) 121 234 0074 Mob: +44 (0) 7703 684 946 |
| | |
| Liberum - Nominated Adviser and Broker Richard Lindley/Ben Cryer/Cara Murphy | Tel: +44 (0) 20 3100 2000 |
| | |
| Belvedere Communications Limited - Financial PR | |
| Cat Valentine (cvalentine@belvederepr.com) | Mob: +44 (0) 7715 769 078 |
| Keeley Clarke (kclarke@belvederepr.com) | Mob: +44 (0) 7967 816 525 |
| Llew Angus (langus@belvederepr.com) | Mob: +44 (0) 7407 023 147 |
| | gateleypr@belvederepr.com |
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