23 September 2024
GATELEY (HOLDINGS) PLC
("Gateley" or the "Company")
AIM: GTLY
Result of AGM
At the Annual General Meeting of Gateley, held today at 12.30pm, all the resolutions, other than resolution 9, 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 | 56,253,433 | 6,184 | 11,831 |
| 2. | To approve the directors' remuneration report | 56,034,581 | 222,444 | 14,423 |
| 3. | To declare a final dividend | 56,259,515 | 102 | 11,831 |
| 4. | To reappoint Edward Knapp as a director | 56,171,438 | 87,330 | 12,680 |
| 5. | To reappoint Neil Andrew Smith as a director | 55,746,928 | 425,360 | 99,160 |
| 6. | To appoint MacIntyre Hudson LLP as auditors of the Company | 56,171,924 | 87,025 | 12,499 |
| 7. | To authorise the directors to fix the remuneration of the auditors | 56,163,628 | 85,936 | 21,884 |
| 8. | To authorise the directors to allot relevant securities | 56,157,202 | 102,247 | 11,999 |
| 9. | To adopt new articles of association** | 34,697,888 | 21,538,602 | 34,958 |
| 10. | To authorise the directors to allot equity securities for cash** | 54,535,437 | 1,722,247 | 13,764 |
| 11. | To authorise the directors to allot equity securities for an acquisition or capital investment** | 53,506,610 | 2,751,074 | 13,764 |
| 12. | To authorise the Company to purchase its own shares** | 43,000,930 | 80,980 | 13,189,538 |
* 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:
"I am delighted that all resolutions, other than resolution 9, passed at today's AGM. I note, however, with disappointment and some considerable degree of frustration, in my last AGM as Chair of Gateley the votes against resolution 9, being the board's resolution to amend the Company's Articles to allow virtual AGMs to take place.
"Over the past five years, the average number of non-staff shareholders attending the AGM is less than one. Indeed, none of the institutional shareholders who voted against this resolution have appeared in person at our AGM in the nine years that I have chaired the business. In my opinion, virtual AGMs are environmentally friendly, provide easier access to a broader range of shareholders, are commensurate with Gateley's ESG policies and responsible business principles and generally attract higher attendances. The board will no doubt consider over the coming months if it should re-introduce the resolution at next year's AGM.
"I also note that a number of shareholders seem to have followed the direction of voting as recommended by certain unregulated proxy voting advisers, without any consultation with the company. I would like to thank those shareholders that communicated directly with the company and I continue to encourage all shareholders to so engage in future and not to simply follow unregulated advice or indeed vote against board resolutions without the courtesy of first engaging with the company to see if any disagreements or misunderstandings might be resolved."
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 |
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| Panmure Liberum - Nominated Adviser and Broker Richard Lindley/ Nikhil Varghese | Tel: +44 (0) 20 3100 2000 |
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