Braemar Shipping Services PLC Result of AGM (6277W)

TIDMBMS

RNS Number : 6277W

Braemar Shipping Services PLC

19 August 2020

19 August 2020

BRAEMAR SHIPPING SERVICES PLC

("Braemar", the "Company" or the "Group")

Results of Annual General Meeting

Braemar Shipping Services Plc (LSE:BMS), a leading international provider of shipbroking, financial advisory, logistics and engineering services to the shipping and energy industries, is pleased to announce that each of the resolutions proposed at its Annual General Meeting (the "AGM") held earlier today were duly passed by means of a poll vote.

The poll results were as follows:

 
      Resolution                Votes For    % For   Votes Against   % Against   Total Votes    % of    Votes Withheld 
                                                                                                 ISC 
                                                                                                voted 
      Receipt of 
       the audited 
       annual accounts 
 1     and reports              8,189,856    99.80      16,465         0.20       8,206,321    25.88      1,152,774 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Receipt of 
       the directors' 
       remuneration 
       report (other 
       than the remuneration 
 2     policy)                   5,179,104   66.00     2,668,132       34.00      7,847,236    24.75      1,511,859 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Approval of 
       the directors' 
       remuneration 
 3     policy                   7,623,464    97.50      195,386        2.50       7,818,850    24.66      1,540,245 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Re-election 
       of Jürgen 
       Breuer as a 
 4     director                 7,725,090    98.33      131,436        1.67       7,856,526    24.78      1,502,569 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Re-election 
       of Stephen 
       Kunzer as a 
 5     director                 7,830,283    99.67      26,243         0.33       7,856,526    24.78      1,502,569 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Re-election 
       of Ronald Series 
 6     as a director            7,740,573    98.54      114,683        1.46       7,855,256    24.77      1,503,839 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Re-election 
       of Nicholas 
       Stone as a 
 7     director                 7,744,573    98.59      110,683        1.41       7,855,256    24.77      1,503,839 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Re-election 
       of Lesley Watkins 
 8     as a director            7,840,513    99.80      16,013         0.20       7,856,526    24.78      1,502,569 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Re-appointment 
       of BDO LLP 
 9     as auditors              7,811,969    99.52      37,479         0.48       7,849,448    24.75      1,509,647 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Authority to 
      determine the 
 10   auditor's remuneration    7,815,701    99.44      44,116         0.56       7,859,817    24.79      1,499,278 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Authority to 
       allot share 
 11    capital                  7,780,880    99.10      71,059         0.90       7,851,939    24.76      1,507,156 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Authority to 
       disapply pre-emption 
 12    rights*                  6,518,779    83.12     1,323,884       16.88      7,842,663    24.73      1,516,432 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Authority to 
       further disapply 
       pre-emption 
 13    rights*                  6,420,452    81.86     1,422,287       18.14      7,842,739    24.73      1,516,356 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Authority to 
       purchase own 
 14    shares*                  7,760,840    98.71      101,646        1.29       7,862,486    24.80      1,496,609 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
      Authority to 
       call a general 
       meeting (other 
       than the Annual 
       General Meeting) 
       on 14 clear 
 15    days' notice*            7,834,434    99.62      29,717         0.38       7,864,151    24.80      1,494,944 
     -----------------------  ------------  ------  --------------  ----------  ------------  -------  --------------- 
 

* indicates special resolutions requiring a 75% majority.

In accordance with the 2018 UK Corporate Governance Code, the Board notes that although Resolution 2 (Directors' remuneration report) passed with the requisite majority, it received 20% or more votes against the Board's recommendation. The Board is working to identify and understand the reasons behind these votes and will look to engage with the Company's shareholders as appropriate in relation to the matter.

Please note that a vote withheld is not a vote under English law and is not counted in the calculation of the votes "for" and "against" a resolution. The total voting rights that members were entitled to exercise at the AGM were 31,709,205.

For further information, contact:

 
 Braemar Shipping Services Plc 
 Ron Series, Executive Chairman                Tel [phone] 
 Nick Stone, Finance Director 
 Peter Mason, Company Secretary 
 finnCap 
 Matt Goode/ James Thompson/ Kate Washington   Tel [phone] 
 Buchanan 
 Charles Ryland / Victoria Hayns / Stephanie   Tel [phone] 
  Watson / Matilda Abraham 
 

Notes to Editors:

About Braemar Shipping Services Plc

Braemar Shipping Services Plc is a leading international provider of shipbroking, financial advisory, logistics and engineering services principally to the shipping and energy industries. Founded in 1972, Braemar employs approximately 530 people in 28 offices worldwide across its Shipbroking, Financial, Logistics and Engineering divisions.

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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August 19, 2020 12:02 ET (16:02 GMT)