Result of AGM
All AGM resolutions passed, including final dividend of 8p per share and director remuneration report.
- Final dividend 8 pence per ordinary share
- Votes for annual report 12,600,313 (prior 99.96%)
- Votes for final dividend 12,094,411 (prior 99.98%)
- Votes against remuneration report 42.25%
- Votes against remuneration policy 42.35%
Select text to share a quote on X · sign in to keep highlights & notes in your BMS notes
Braemar Plc (LSE: BMS), a leading provider of expert investment, chartering, and risk management advice to the shipping and energy markets, is pleased to announce that each of the resolutions proposed at its reconvened Annual General Meeting held earlier today were duly passed by means of a poll vote as set out below.
| Resolution | Votes For | % For | Votes Against | % Against | Total Votes | % Votes Withheld | |
|---|---|---|---|---|---|---|---|
| 1 | To receive the audited annual report and accounts for the year ended 28 February 2023. | 12,600,313 | 99.96 | 4,592 | 0.04 | 12,604,905 | 38.28 |
| 2 | To approve the directors' remuneration report for the year ended 28 February 2023. | 7,297,536 | 57.75 | 5,339,764 | 42.25 | 12,637,300 | 38.38 |
| 3 | To approve the directors' remuneration policy for the year ended 28 February 2023 | 7,283,255 | 57.65 | 5,350,295 | 42.35 | 12,633,550 | 38.37 |
| 4 | To approve a final dividend of 8 pence per ordinary share for the year ended 28 February 2023. | 12,094,411 | 99.98 | 2,748 | 0.02 | 12,097,159 | 36.74 |
Notes:
- Any proxy appointments which give discretion to the Chair have been included in the "for" total.
- The total number of shares in issue is 32,924,877.
Nigel Payne, Chairman said:
"I am delighted that all of the board's recommended resolutions were supported today by our shareholders, notwithstanding recommended votes against by certain unregulated proxy shareholder companies. These organisations increasingly operate in a non-communicative universe that shows no interest in, nor takes account of, the rationale behind a board's carefully and purposefully formulated policies which, when explained, most shareholders who take the time to engage with the Company, readily accept.
The board's policy remains, wherever possible to not take account of shareholder voting that has clearly followed that recommended voting by unregulated proxy shareholders unless there has been direct engagement from the shareholder with the Company".
UK Corporate Governance Code - statement regarding voting result
The board notes that although Resolutions 2 and 3 (directors remuneration report and policy) passed with the requisite majorities, they received more than 20% of votes against the board's recommendation. The board encourages an open and constructive dialogue directly with shareholders and continues to be willing to engage with any shareholder on any relevant topics should they choose to do so.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.