CML Microsystems PLC Result of AGM (9436M)

TIDMCML

RNS Number : 9436M

CML Microsystems PLC

02 August 2017

CML Microsystems Plc

(The "Company" or the "Group")

Results of the 2017 Annual General Meeting

CML Microsystems Plc, ("CML" or "the Group"), which designs, manufactures and markets mixed-signal and Radio Frequency (RF) semiconductors, primarily for global communication and solid state storage markets, today held its Annual General Meeting ("AGM") at 11.00am, Wednesday 2 August 2017. All resolutions put to the shareholders as set out in the Notice of AGM dated 23 June 2017 were passed with the requisite majorities on a show of hands. Details of the proxy votes cast are as follows:

 
 Resolution                     For            %      Against      %     Withheld    % 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 1. To receive and 
  adopt the Group's 
  consolidated financial 
  statements and reports 
  of the Directors 
  and auditor for 
  the year ended 31st 
  March 2017.                   13,129,146   100.00       0       0.00      0       0.00 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 2. To receive and 
  approve the Directors' 
  Remuneration Report 
  for the year ended 
  31st March 2017.              13,127,786   99.94      7,774     0.06      0       0.00 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 3. To declare a 
  final dividend of 
  7.4p per 5p ordinary 
  share for the year 
  ended 31 March 2017.          13,129,146   100.00       0       0.00      0       0.00 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 4. To re-appoint 
  H. F. Rudden as 
  Director, who retires 
  from the Board by 
  rotation.                     13,129,146   100.00       0       0.00      0       0.00 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 5. To re-appoint 
  N. G. Clark as Director, 
  who retires from 
  the Board by rotation.        11,963,115   91.07    1,089,067   8.29    83,378    0.63 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 6. To re-appoint 
  G. F. Barnes as 
  Director, who was 
  appointed to the 
  Board on 1 April 
  2017.                         13,124,576   99.97       460      0.00    4,110     0.03 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 7. To send or supply 
  all documents or 
  information relating 
  to the Company to 
  members by making 
  them available on 
  a website.                    13,125,516   99.97      3,630     0.03      0       0.00 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 8. To re-appoint 
  RSM UK Audit LLP, 
  as auditor of the 
  Company.                      13,129,146   100.00       0       0.00      0       0.00 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 9. To authorise 
  the Directors to 
  determine the remuneration 
  of the auditor.               13,129,146   100.00       0       0.00      0       0.00 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 10. To authorise 
  the Directors to 
  allot shares.                 13,129,146   100.00       0       0.00      0       0.00 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 11. To disapply 
  the pre-emption 
  provisions of The 
  Companies Act 2006.           13,129,146   100.00       0       0.00      0       0.00 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 12. To disapply 
  the pre-emption 
  provisions of The 
  Companies Act 2006 
  for the purposes 
  of financing an 
  acquisition or capital 
  investment.                   12,563,246   95.64     572,314    4.36      0       0.00 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 13. To renew the 
  authority to the 
  Company to make 
  market purchases 
  of its own shares.            13,126,646   99.98      2,500     0.02      0       0.00 
-----------------------------  -----------  -------  ----------  -----  ---------  ----- 
 
 
 CML Microsystems Plc           www.cmlmicroplc.com 
  Chris Gurry, Group Managing    Tel: [phone] 
  Director                       500 
  Neil Pritchard, Group 
  Financial Director 
 Cenkos Securities plc          Tel: [phone] 
  Alex Aylen (Sales) 
  Max Hartley (Corporate 
  Finance) 
 SP Angel Corporate Finance     Tel: [phone] 
  LLP 
  Jeff Keating 
 Alma PR 
  Josh Royston                    Tel: [phone] 
  Robyn Fisher                    Tel: [phone] 
 

About CML Microsystems PLC

CML designs and develops semiconductors for the industrial storage and communications markets. The Group utilises a combination of in-house and outsourced manufacturing and has trading operations in Europe, the Far East and USA. CML targets niche markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading telecoms equipment providers and industrial product manufacturers.

The spread of its customers and products largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the ever increasing trend towards solid state storage devices in the commercial and industrial sectors, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial communications networks for voice and/or data communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no borrowings and is dividend paying.

This information is provided by RNS

The company news service from the London Stock Exchange

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August 02, 2017 11:05 ET (15:05 GMT)