Result of AGM
All resolutions passed at 2024 AGM; five received over 20% votes against board recommendation.
- Final dividend per ordinary share 9 pence
- Dividend payment date 9 September 2024
- Votes for remuneration report 54.90%
- Votes against remuneration report 45.10%
- Total shares in issue 32,924,877
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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 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 Company's audited accounts for the year ended 29 February 2024 (incorporating the directors' report and auditor's report). | 10,556,402 | 96.03 | 436,360 | 3.97 | 10,992,762 | 56,246 |
| 2. | To approve the directors' remuneration report for the year ended 29 February 2024. | 6,034,754 | 54.90 | 4,958,251 | 45.10 | 10,993,005 | 56,003 |
| 3. | To approve a final dividend of nine pence per ordinary share for the year ended 29 February 2024, to be paid on 9 September 2024. | 10,866,710 | 98.37 | 179,880 | 1.63 | 11,046,590 | 2,418 |
| 4. | To re-elect Grant Foley as a director of the Company. | 10,717,905 | 97.09 | 321,373 | 2.91 | 11,039,278 | 9,730 |
| 5. | To re-elect Elizabeth Gooch as a director of the Company. | 8,652,699 | 78.34 | 2,392,766 | 21.66 | 11,045,465 | 3,543 |
| 6. | To re-elect James Gundy as a director of the Company. | 9,356,925 | 84.87 | 1,668,597 | 15.13 | 11,025,522 | 23,486 |
| 7. | To re-elect Joanne Lake as a director of the Company. | 8,847,683 | 80.10 | 2,197,782 | 19.90 | 11,045,465 | 3,543 |
| 8. | To re-elect Nigel Payne as a director of the Company. | 8,673,028 | 78.63 | 2,357,494 | 21.37 | 11,030,522 | 18,486 |
| 9. | To re-elect Tristram Simmonds as a director of the Company. | 8,190,607 | 74.20 | 2,847,940 | 25.80 | 11,038,547 | 10,461 |
| 10. | To re-elect Catriona Valentine as a director of the Company. | 10,776,411 | 97.57 | 267,867 | 2.43 | 11,044,278 | 4,730 |
| 11. | To re-appoint BDO LLP as auditor to the Company. | 8,902,456 | 80.67 | 2,133,474 | 19.33 | 11,035,930 | 13,078 |
| 12. | To authorise the Audit & Risk Committee of the Company to determine BDO LLP's remuneration. | 9,836,295 | 89.11 | 1,201,818 | 10.89 | 11,038,113 | 10,895 |
| 13. | Authority to allot share capital. | 10,455,090 | 95.06 | 543,135 | 4.94 | 10,998,225 | 50,783 |
| 14. | To approve the rules of the Long-Term incentive plan. | 8,699,813 | 79.17 | 2,289,077 | 20.83 | 10,988,890 | 60,118 |
| 15. | Authority to disapply pre-emption rights* | 9,299,800 | 84.46 | 1,711,231 | 15.54 | 11,011,031 | 37,977 |
| 16. | Authority to further disapply pre-emption rights* | 9,331,375 | 84.70 | 1,686,246 | 15.30 | 11,017,621 | 31,387 |
| 17. | Authority to purchase own shares* | 10,980,615 | 99.41 | 65,323 | 0.59 | 11,045,938 | 3,070 |
| 18. | Authority to call a general meeting (other than the Annual General Meeting) on 14 clear days' notice* | 10,758,992 | 97.40 | 287,598 | 2.60 | 11,046,590 | 2,418 |
* Special resolution requiring 75% majority.
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.
UK Corporate Governance Code - statement regarding voting result
The board notes that although resolutions 2,5,8,9 and 14 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.
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