Braemar PLC Results of Annual General Meeting (8129I)

TIDMBMS

RNS Number : 8129I

Braemar PLC

09 August 2023

9 August 2023

BRAEMAR PLC

(the "Company")

Results of Annual General Meeting

Braemar Plc (LSE: BMS), a 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     Votes     % Against     Total        Votes 
                                               For               Against                   Votes      Withheld 
       Re-election of Elizabeth 
  5     Gooch as a director                11,847,481   94.85    642,900      5.15      12,490,381    17,948 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
       Re-election of James Gundy 
  6     as a director                      11,517,271   93.14    848,065      6.86      12,365,336    142,993 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
       Re-election of Nigel Payne 
  7     as a director                      11,643,278   93.24    843,733      6.76      12,487,011    21,318 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
       Re-election of Tris Simmonds 
  8     as a director                      11,519,430   92.24    968,701      7.76      12,488,131    20,198 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
       Re-election of Joanne Lake 
  9     as a director                      10,254,210   82.10   2,235,171     17.90     12,489,381    18,948 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
       Election of Cat Valentine 
  10    as a director                      12,442,282   99.63    46,390       0.37      12,488,672    19,657 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
       Election of Grant Foley 
  11    as a director                      12,126,191   97.08    364,697      2.92      12,490,888    17,441 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
       Re-appointment of BDO LLP 
  12    as auditors                        10,709,141   85.70   1,786,854     14.30     12,495,995    12,334 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
       Authority to determine 
  13    the auditor's remuneration         8,180,568    67.12   4,007,564     32.88     12,188,132    320,197 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
       Authority to allot share 
  14    capital                            10,938,551   93.80    722,961      6.20      11,661,512    846,817 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
       Authority to disapply pre-emption 
  15    rights*                            9,738,976    83.51   1,923,191     16.49     11,662,167    846,162 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
       Authority to further disapply 
  16    pre-emption rights*                9,727,724    83.40   1,935,924     16.60     11,663,648    844,681 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
       Authority to purchase own 
  17    shares*                            12,450,454   99.58    52,358       0.42      12,502,812     5,517 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
       Authority to call a general 
        meeting (other than the 
        Annual General Meeting) 
  18    on 14 clear days' notice*          12,468,183   99.71    36,473       0.29      12,504,656     3,673 
      ----------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
 

* 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.

4. The meeting was adjourned and the remaining business of the AGM being resolutions 1 to 4 (inclusive) will be put to vote at a later date, following the publication of the 2023 annual report and accounts.

UK Corporate Governance Code - statement regarding voting result

The board notes that although Resolution 13 (auditor remuneration) passed with the requisite majority, it received more than 20% of votes against the board's recommendation. We thank shareholders for their support and the Board will look to continue engagement throughout the year. The board encourages an open and constructive dialogue directly with shareholders and continue to be willing to engage with any shareholder on any relevant topics should they so wish.

Nigel Payne, Chairman said:

" I am delighted that all of the board's recommended resolutions were supported today by our shareholders.

I am especially pleased that resolutions 9 and 13 were supported, notwithstanding recommended votes against by certain unregulated proxy shareholder companies, some of whose policies now diverge from recommended FRC guidance , which the board has followed.

The board's policy remains, wherever possible to not take account of shareholder voting that has clearly followed that recommended voting by unregulated proxy shareholders unless there has been direct engagement from the shareholder with the company".

Availability of documents

In accordance with Listing Rule 9.6.2, full details of the resolutions will be submitted to the National Storage Mechanism and will shortly be available for inspection at: National Storage Mechanism | FCA .

For further information, contact:

 
 Braemar Plc 
 James Gundy, Group Chief Executive Officer      Tel [phone] 
 Grant Foley, Group Chief Financial Officer 
 Rebecca-Joy Wekwete, Company Secretary 
 Investec Bank plc 
 Gary Clarence / Harry Hargreaves / Alice        Tel [phone] 
  King 
 Cenkos Securities plc 
                                                   Tel [phone] 
  Ben Jeynes / Max Gould (Corporate Finance) 
 
  Alex Pollen / Leif Powis (Sales) 
 Buchanan 
 Charles Ryland / Jamie Hooper / Jack            Tel [phone] 
  Devoy 
 
 

Notes to Editors:

About Braemar Plc

Braemar provides expert advice in shipping investment, chartering, and risk management to enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping. 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, please visit www.braemar.com and follow Braemar on LinkedIn .

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END

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August 09, 2023 05:56 ET (09:56 GMT)