Result of AGM
Telecom Plus PLC announced that all resolutions were passed at its Annual General Meeting, including the receipt of the 2026 Annual Report and Accounts with 99.93% in favour, and the payment of a 12.0p final dividend with 99.91% in favour. However, resolutions concerning the Directors' Remuneration Report and Policy received lower support, with 71.78% and 70.36% in favour respectively. The Board will engage with shareholders to understand concerns regarding remuneration and will provide an update within six months. Re-elections of directors and auditor appointments also passed with significant majority support.
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Telecom Plus PLC (trading as Utility Warehouse and UW), an integrated and unique platform for subscription-style essential household services in the UK, announces that at the Annual General Meeting of the Company ("AGM") held earlier today all resolutions put to shareholders of the Company were duly passed. A poll was held for each resolution, the results of which are as follows:
| RESOLUTIONS | VOTES IN FAVOUR | %age | VOTES AGAINST | %age | WITHHELD | |
|---|---|---|---|---|---|---|
| 1 | To receive the 2026 Annual Report and Accounts | 48,570,827 | 99.93% | 33,777 | 0.07% | 34,792 |
| 2 | To approve the 2026 Directors' Remuneration Report | 34,904,608 | 71.78% | 13,719,411 | 28.22% | 15,377 |
| 3 | To approve the Telecom Plus PLC 2026 Directors' Remuneration Policy | 34,208,931 | 70.36% | 14,411,031 | 29.64% | 19,434 |
| 4 | To approve the payment of a 12.0p final dividend | 48,577,516 | 99.91% | 44,583 | 0.09% | 17,297 |
| 5 | To re-elect Charles Wigoder | 41,603,562 | 92.28% | 3,482,612 | 7.72% | 3,553,222 |
| 6 | To re-elect Stuart Burnett | 44,604,167 | 98.93% | 480,526 | 1.07% | 3,554,703 |
| 7 | To re-elect Nicholas Schoenfeld | 41,384,494 | 91.80% | 3,698,133 | 8.20% | 3,556,769 |
| 8 | To re-elect Suzanne Williams | 44,087,476 | 97.79% | 996,787 | 2.21% | 3,555,133 |
| 9 | To re-elect Philip Bunker | 44,067,126 | 97.75% | 1,014,482 | 2.25% | 3,557,788 |
| 10 | To re-elect Gemma Godfrey | 44,958,352 | 99.73% | 123,699 | 0.27% | 3,557,345 |
| 11 | To re-elect Bindiya Karia | 44,948,715 | 99.71% | 131,709 | 0.29% | 3,558,972 |
| 12 | To re-elect Carla Stent | 44,406,423 | 98.50% | 677,013 | 1.50% | 3,555,960 |
| 13 | To re-appoint KPMG LLP as auditor | 48,086,439 | 98.89% | 540,494 | 1.11% | 12,463 |
| 14 | To authorise the Directors to determine the auditor's remuneration | 48,423,333 | 99.58% | 203,484 | 0.42% | 12,579 |
| 15 | To authorise the Company to make market purchases of its own shares* | 48,568,317 | 99.90% | 49,509 | 0.10% | 21,570 |
| 16 | To authorise the directors to allot shares pursuant to section 551 of the Companies Act 2006 | 44,273,294 | 91.06% | 4,348,109 | 8.94% | 17,993 |
| 17 | To authorise the directors to disapply pre-emption rights* | 44,020,924 | 90.54% | 4,599,404 | 9.46% | 19,068 |
| 18 | To authorise the directors to further disapply pre-emption rights in addition to Resolution 17* | 43,797,683 | 90.08% | 4,823,262 | 9.92% | 18,451 |
| 19 | To authorise the payment of political donations and incur political expenditure | 48,075,140 | 98.87% | 550,930 | 1.13% | 13,326 |
| 20 | To authorise 14 clear days' notice periods for General Meetings (other than the AGM)* | 47,495,309 | 97.67% | 1,131,407 | 2.33% | 12,680 |
*Special resolution
The Board notes that Resolutions 2 and 3 received less than 80% support at the AGM and recognises the importance of understanding the reasons for shareholders' views.
The Board and Remuneration Committee will engage with shareholders to understand and discuss the concerns and views expressed in relation to the Directors' Annual Report on Remuneration and the Directors' Remuneration Policy. The Board will consider carefully the feedback received and, where appropriate, will take this into account in the ongoing development and implementation of the Company's remuneration arrangements.
In accordance with the UK Corporate Governance Code, the Company will provide an update on shareholder engagement and any actions taken or proposed in response to the feedback within six months of the AGM.
A copy of the resolutions passed at the AGM relating to special business has been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
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