AGM Update and Cooperation Agreement
C&C Board and Engine Capital agree cooperation agreement; one new non-executive director to be appointed.
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Dublin, London, 8 August 2024: The Board of C&C Group plc ("C&C" or the "Company") announces that following engagement with Engine Capital LP ("Engine") and other shareholders, the C&C Board and Engine have agreed to put in place a Cooperation Agreement (the "Agreement") and work constructively together in the best interests of the Company, all its shareholders and wider stakeholders.
Under the Agreement, the Company will commence a process to appoint one new non-executive Director with capital markets expertise to the Board from a short-list of nominees agreed with Engine.
Under the Agreement, Engine will withdraw its two proposed nominees for election at the upcoming Annual General Meeting ("AGM") on 15 August 2024. The Agreement includes customary governance, standstill and voting provisions.
Engine has confirmed it will vote in support of all resolutions proposed at the AGM in line with the Board's recommendations.
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