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LEI Number: 213800VFRMBRTSZ3SJ06 |
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14th May 2024
CHESNARA plc
("Chesnara" or "the Company")
RESULT OF THE CHESNARA PLC 2024 ANNUAL GENERAL MEETING
Results of AGM
Chesnara plc (CSN.L) announces that the resolutions put to its Annual General Meeting ("AGM") held on 14th May 2024 were duly passed.
The results of the AGM, including the total number of votes received for each resolution, were as follows:
| No. | Resolution | Votes 'for' | % | Votes 'against' | % | Total votes validly cast | Votes 'withheld' |
| 1 | To receive and adopt the audited accounts for the year ended 31 December 2023 | 88,443,651 | 99.98 | 18,174 | 0.02 | 88,461,825 | 68,623 |
| 2 | To approve the Directors' Remuneration Report for the year ended 31 December 2023 | 87,088,647 | 98.42 | 1,397,455 | 1.58 | 88,486,102 | 44,346 |
| 3 | To declare a final dividend of 15.61p per ordinary share for the year ended 31 December 2023 | 88,509,452 | 99.99 | 11,423 | 0.01 | 88,520,875 | 9,573 |
| 4 | To re-appoint Steve Murray as a director | 88,453,289 | 99.96 | 33,823 | 0.04 | 88,487,112 | 43,336 |
| 5 | To re-appoint Carol Hagh as a director | 87,488,972 | 98.87 | 998,104 | 1.13 | 88,487,076 | 43,372 |
| 6 | To re-appoint Karin Bergstein as a director | 87,653,252 | 99.06 | 833,824 | 0.94 | 88,487,076 | 43,372 |
| 7 | To re-appoint Jane Dale as a director | 87,661,581 | 99.07 | 825,495 | 0.93 | 88,487,076 | 43,372 |
| 8 | To re-appoint Luke Savage as a director | 87,666,356 | 99.07 | 820,720 | 0.93 | 88,487,076 | 43,372 |
| 9 | [To re-appoint Mark Hesketh as a director (withdrawn)] | - | - | - | - | - | - |
| 10 | To re-appoint Eamonn Flanagan as a director | 87,722,889 | 99.14 | 763,823 | 0.86 | 88,486,712 | 43,736 |
| 11 | To appoint Tom Howard as a director | 88,437,738 | 99.94 | 49,338 | 0.06 | 88,487,076 | 43,372 |
| 12 | To re-appoint Deloitte LLP as auditor | 88,436,376 | 99.93 | 63,095 | 0.07 | 88,499,471 | 30,977 |
| 13 | To authorise the directors to determine the auditor's remuneration | 88,479,839 | 99.96 | 34,028 | 0.04 | 88,513,867 | 16,581 |
| 14 | To provide limited authority to make political donations and to incur limited political expenditure | 81,783,475 | 98.78 | 1,013,989 | 1.22 | 82,797,464 | 5,732,984 |
| 15 | To authorise the directors to allot shares up to a specified amount | 87,480,654 | 98.84 | 1,026,783 | 1.16 | 88,507,437 | 23,011 |
| 16 | Special resolution - To authorise the directors to disapply pre-emption rights (general corporate purposes) | 82,149,492 | 92.81 | 6,363,900 | 7.19 | 88,513,392 | 17,056 |
| 17 | Special resolution - To authorise the directors to disapply pre-emption rights (acquisition or other capital investment) | 82,079,620 | 92.74 | 6,426,086 | 7.26 | 88,505,706 | 24,742 |
| 18 | Special resolution - To give the Company limited authority to purchase its own shares | 88,424,826 | 99.93 | 60,206 | 0.07 | 88,485,032 | 45,416 |
| 19 | To authorise the directors to allot ordinary shares in relation to an issue of Restricted Tier 1 Instrument up to a specified amount | 87,468,630 | 98.85 | 1,017,786 | 1.15 | 88,486,416 | 44,032 |
| 20 | Special resolution - To authorise the directors to disapply pre-emption rights in relation to the issue of Restricted Tier 1 Instruments | 87,602,503 | 99.01 | 875,739 | 0.99 | 88,478,242 | 52,206 |
| 21 | Special resolution - To authorise the Company to call general meetings on not less than 14 clear days' notice | 88,362,358 | 99.83 | 153,539 | 0.17 | 88,515,897 | 14,551 |
The Board is pleased that all resolutions passed with a significant majority.
Other Matters
As announced on 7th December 2023, David Rimmington did not seek re-appointment to the Board and stepped down as Group Finance Director and as an Executive Director of Chesnara plc at the conclusion of the AGM.
As announced on 17th April 2024, Resolution 9 was withdrawn from the agenda of the AGM as a result of Mark Hesketh, Independent Non-Executive Director, stepping down from the Board of Chesnara plc on 9 April 2024.
The Company's issued share capital on 14th May 2024 consisted of 150,954,119 ordinary shares of 5p each with no shares held in Treasury. Each share carries one voting right and therefore the number of voting rights is 150,954,119.
Votes withheld are not a vote in law and have not been counted in the calculation of the votes for and against each resolution or the total votes validly cast.
The full text of the resolutions can be found in the Notice of the Annual General Meeting available on the Company's website, www.chesnara.co.uk. In accordance with Listing Rule 9.6.3, full details of the resolutions passed as special business will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
Investor Enquiries
Sam Perowne
Head of Strategic Development & Investor Relations
Chesnara plc
E - sam.perowne@chesnara.co.uk
Media Enquiries
Roddy Watt
Director, Capital Markets
FWD
T - 020 7280 0651 / 07714 770 493
E - roddy.watt@fwdconsulting.co.uk
Notes to Editors
Chesnara (CSN.L) is a European life and pensions consolidator listed on the London Stock Exchange. It administers approximately one million policies and operates as Countrywide Assured in the UK, as The Waard Group and Scildon in the Netherlands, and as Movestic in Sweden.
Following a three-pillar strategy, Chesnara's primary responsibility is the efficient administration of its customers' life and savings policies, ensuring good customer outcomes and providing a secure and compliant environment to protect policyholder interests. It also adds value by writing profitable new business in Sweden, the Netherlands and the UK as well as by undertaking value-adding acquisitions of either companies or portfolios.
Consistent delivery of the Company strategy has enabled Chesnara to increase its dividend for 1 years in succession.
Further details are available on the Company's website (www.chesnara.co.uk).
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