Business
Results of 2024 Annual General Meeting
Results of 2024 Annual General Meeting.
About this update from Braemar Plc
3 July 2024 BRAEMAR PLC (the "Company") Results of 2024 Annual General Meeting 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: 1. Any proxy appointments which give discretion to the Chair have been included in the "for" total. 2. The total number of shares in issue is 32,924,877. 3. A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" or "against" a resolution. 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. ENDS For further information, contact: Braemar Plc James Gundy, Group Chief Executive Officer Tel +44 (0) 20 3142 4100 Grant Foley, Group Chief Financial Officer Rebecca-Joy Wekwete, Company Secretary Burson Buchanan Charles Ryland / Stephanie Whitmore / Jack Devoy / Abby Gilchrist Tel +44 (0) 20 7466 5000 Investec Bank plc Gary Clarence / Alice King Tel +44 (0) 20 7597 5970 Cavendish Capital Markets Limited Ben Jeynes / Matt Lewis (Corporate Finance) Leif Powis / Dale Bellis / Charlie Combe (Sales & ECM) Tel +44 (0) 20 7220 0500 Notes to Editors: About Braemar Plc Braemar provides expert investment, chartering, and risk management advice that enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping and energy. Our experienced brokers work in tandem with specialist professionals to form teams tailored to our customers' needs, and provide an integrated service supported by a collaborative culture. Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS. For more information, including our investor presentation, visit www.braemar.com and follow Braemar on LinkedIn .