22 March 2024
Kitwave Group plc
("Kitwave", the "Group" or the "Company")
Result of AGM and Directorate Change
Kitwave Group plc (AIM: KITW), the delivered wholesale business, confirms that all the resolutions put to the shareholders at the Annual General Meeting ("AGM") held earlier today were duly passed.
A breakdown of proxy votes lodged prior to the meeting for each resolution is set out below and will also be made available on the Group's website at: https://www.kitwave.co.uk/investors/documents/#circulars
| Resolutions | For* | % | Against | % Against | Vote withheld** | Total votes cast |
| 1. Annual report and accounts for the financial year ended 31 October 2023 | 45,539,759 | 100 | 0 | 0 | 436,032 | 45,539,759 |
| 2. Declaration of final dividend | 45,975,791 | 100 | 0 | 0 | 0 | 45,975,791 |
| 3. Re-election of David Brind as a director | 45,975,691 | 99.99 | 100 | 0.01 | 0 |
45,975,791 |
| 4. Re-election of Benjamin Maxted as a director |
45,975,791
| 100 | 0 | 0 | 0 | 45,975,791 |
| 5. Re-election of Gerard Murray as a director | 45,975,691 | 99.99 | 100 | 0.01 | 0 | 45,975,791 |
| 6. Re-election of Teresa Octavio as a director | 45,975,791 | 100 | 0 | 0 | 0 | 45,975,791 |
| 7. Re-election of Stephen Smith as a director | 43,462,495 | 94.53 | 2,513,296 | 5.47 | 0 | 45,975,791 |
| 8. Re-appointment of auditor |
45,975,791
| 100 | 0 | 0 | 0 | 45,975,791 |
| 9. Auditor's remuneration |
45,975,791
| 100 | 0 | 0 | 0 | 45,975,791 |
| 10. Director's authority to allot shares |
45,975,791
| 100 | 0 | 0 | 0 | 45,975,791 |
| 11. ***Dis-application of pre-emption rights | 45,529,770 | 99.03 | 446,021 | 0.97 | 0 | 45,975,791 |
| 12. ***Dis-application of pre-emption rights for specified capital investment or acquisition | 41,985,989 | 91.32 | 3,989,802 | 8.68 | 0 | 45,975,791 |
| 13. ***Authority to purchase own shares | 45,754,791 | 99.99 |
1,000
| 0.01 | 220,000 | 45,755,791 |
| 14. Authority to make political donations or incur political expenditure | 38,580,813 | 91.35 | 3,651,245 | 8.65 | 3,743,733 | 42,232,058 |
* The votes "for" figures include those votes at the discretion of the Chairman.
** A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'for' or 'against' a resolution.
*** Special resolutions requiring a 75% majority.
Directorate Change
As set out in the announcement by the Company on 6 November 2023, Paul Young has retired from the Board following the conclusion of the Annual General Meeting. Ben Maxted has been appointed as Chief Executive Officer with immediate effect.
- Ends -
For further information please contact:
| Kitwave Group plc Ben Maxted, Chief Executive Officer David Brind, Chief Financial Officer | Tel: +44 (0) 191 259 2277 |
| Canaccord Genuity Limited Bobbie Hilliam
| Tel: +44 (0) 20 7523 8150 |
| Yellow Jersey PR Sarah Hollins Shivantha Thambirajah Bessie Elliot | Tel: +44 (0) 20 3004 9512 |
Company Overview
Founded in 1987, following the acquisition of a single-site confectionery wholesale business based in North Shields, United Kingdom, Kitwave is a delivered wholesale business, specialising in selling and delivering impulse products, frozen and chilled foods, alcohol, groceries and tobacco to approximately 42,000, mainly independent, customers.
With a network of 30 depots, Kitwave is able to support delivery throughout the UK to a diverse customer base, which includes independent convenience retailers, leisure outlets, vending machine operators, foodservice providers and other wholesalers, as well as leading national retailers.
The Group's growth to date has been achieved both organically and through a strategy of acquiring smaller, predominantly family-owned, complementary businesses in the fragmented UK grocery and foodservice wholesale market.
Kitwave Group plc (AIM: KITW) was admitted to trading on AIM of the London Stock Exchange on 24 May 2021.
For further information, please visit www.kitwave.co.uk.
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