Result of General Meeting
Franchise Brands plc announced that its General Meeting resolution to cancel the Share Premium account was passed with 89,526,063 votes in favour and only 132 against, representing 100.0% of votes cast. The company will now apply to the High Court for approval, with a directions hearing expected on May 20, 2026, and a confirmation hearing on June 2, 2026, with the cancellation anticipated to be effective around June 5, 2026, upon registration with Companies House.
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Franchise Brands plc (AIM: FRAN), an international multi-brand franchise business, is pleased to announce that at the Company's General Meeting held earlier today in connection with the proposed cancellation of the Share Premium account, the resolution proposed was duly passed on a poll.
The votes validly received from shareholders and cast (or withheld) at the meeting on the resolution are set out below:
| Resolution | Purpose of the resolution | Votes For | % of Votes Cast | Votes Against | % of Votes Cast | Total votes cast (excluding votes withheld | Votes Withheld |
|---|---|---|---|---|---|---|---|
| SPECIAL RESOLUTION | |||||||
| 1. | That, subject to the approval of the High Court, the amount standing to the credit of the Share Premium Account of the Company be cancelled. | 89,526,063 | 100.0% | 132 | 0.0% | 89,526,195 | 1,277 |
As outlined in the circular issued to shareholders on 31 March 2026, an application will be made to the High Court seeking its approval of this matter. The company expects the initial directions hearing to be held on 20 May 2026 and the hearing to confirm the Share Premium cancellation to be held on 2 June 2026.
The cancellation of the Share Premium account becomes effective on the date on which the Court Order confirming the Share Premium Cancellation (and certain accompanying documents) are registered by Companies House, which is expected to be on or around Friday 5 June 2026.
Further announcements will be issued by the Company at the appropriate points in the process.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.