Chesnara PLC Results of AGM (3275O)

TIDMCSN

RNS Number : 3275O

Chesnara PLC

16 May 2018

Result of the Chesnara Annual General Meeting

LEI Number: 213800VFRMBRTSZ3SJ06

Chesnara plc announces that the resolutions proposed at its Annual General Meeting held on 16 May 2018 were passed by a show of hands. For information, the results of the AGM which includes the total number of votes received for each resolution are set out below. The Company's issued share capital on 16 May 2018 consisted of 149,885,761 ordinary 5p shares and the number of voting rights was 149,808,060 ordinary 5p shares (excluding 77,701 treasury shares).

 
 No.   Resolution                                     No. of        %         Votes       %        Total         Votes 
                                                       votes             'against'*               No. of    'withheld' 
                                                       'for'                                       votes 
                                           & 'discretionary'                                        cast 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
       To receive and adopt the report 
 1      and accounts                              97,971,587   99.98%        16,000   0.02%   97,987,587           345 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
       To approve the Directors' 
       Remuneration 
 2     Report                                     96,518,190   98.51%     1,461,107   1.49%   97,979,297         8,635 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
 3     To declare a final dividend                97,991,223     100%             0       -   97,991,223             0 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
 4     To re-elect Mr John Deane                  97,983,625   99.99%         1,751   0.01%   97,985,376         2,557 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
 5     To re-elect Mr Rimmington                  97,917,680   99.93%        67,696   0.07%   97,985,376         2,557 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
 6     To re-elect Ms Dale                        97,983,625   99.99%         1,751   0.01%   97,985,376         2,557 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
 7     To re-elect Mr Mason                       93,970,403   95.90%     4,014,972   4.10%   97,985,375         2,557 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
 8     To re-elect Mrs Oak                        96,923,391   98.92%     1,061,984   1.08%   97,985,375         2,557 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
 9     To re-elect Mr Brand                       97,983,625   99.99%         1,751   0.01%   97,985,376         2,557 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
 10    To re-elect Mr Evans                       97,981,461   99.99%         3,915   0.01%   97,985,376         2,557 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
       To re-appoint Deloitte LLP as 
 11    auditor                                    97,905,082   99.98%        19,570   0.02%   97,924,652        63,280 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
       To authorise the directors to 
       determine 
 12    the auditor's remuneration                 97,977,179   99.99%         3,663   0.01%   97,980,842         7,091 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
 13    To authorise political donations           96,219,836   98.20%     1,761,469   1.80%   97,981,305         6,628 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
       To authorise the directors to 
       allot 
       securities up to a specified 
 14    amount                                     97,869,413   99.89%       108,148   0.11%   97,977,561        10,372 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
       Special resolution - to give the 
       directors power to allot 
       securities 
       for cash without making an offer 
       to shareholders (rights issue or 
 15    open offer)                                96,640,597   98.66%     1,315,179   1.34%   97,955,776        32,157 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
       Special resolution - to give the 
       directors power to allot 
       securities 
       for cash without making an offer 
       to shareholders (financing or 
       refinancing 
 16    an acquisition)                            96,550,907   98.57%     1,404,868   1.43%   97,955,775        32,157 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
       Special resolution - to give the 
       Company limited authority to 
       purchase 
 17    its own shares                             97,850,853   99.89%       112,329   0.11%   97,963,182        24,750 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
       Special resolution - to allow 
       the 
       Company to call general meetings 
       on not less than 14 clear 
       working 
 18.   days' notice                               97,010,981   99.01%       967,464   0.99%   97,978,445         9,488 
----  ---------------------------------  -------------------  -------  ------------  ------  -----------  ------------ 
 

*Votes 'withheld' have not been included in the calculation of whether the resolution is carried. Percentages have been rounded to two decimal places.

The full text of the resolutions can be found in the Notice of the Meeting set out in the Financial Statements for the year ended 31 December 2017, copies of which are available on the Company's website, www.chesnara.co.uk. In accordance with Listing Rule 9.6.3, full details of the resolutions passed as special business will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.Hemscott.com/nsm.do.

Notes to Editors

Chesnara plc ('Chesnara'), which listed on the London Stock Exchange in May 2004, is the owner of Countrywide Assured plc ('CA plc'), Movestic Livförsäkringar AB ('Movestic') and Chesnara Holdings BV. Chesnara Holdings BV is the intermediate holding company of 'Waard Group' and 'Scildon'.

CA plc is a UK life assurance subsidiary that is closed to new business. In June 2005 Chesnara acquired a further closed life insurance company - City of Westminster Assurance - for GBP47.8m. With effect from 30 June 2006, CWA's policies and assets were transferred into CA plc. Save & Prosper Insurance Limited and its subsidiary, Save & Prosper Pensions Limited, were acquired on 20 December 2010 for GBP63.5 million. With effect from 31 December 2011, the business of Save & Prosper was transferred into CA plc. On 28 November 2013 Chesnara acquired Direct Line Life Insurance Company Limited (subsequently renamed Protection Life Company Limited) from Direct Line Group plc for GBP39.3m. On 31 December 2014 the PL business transferred into CA plc. CA plc operates an outsourced business model.

Movestic, a Swedish life assurance company which originally focused on pensions and savings, was acquired on 23 July 2009 for GBP20 million. The company is open to new business and seeks to grow its position in the Swedish unit-linked market. Its proposition was strengthened in February 2010 with the acquisition of the operations of Aspis Försäkringar Liv AB which has a risk and health product bias.

The Waard Group, a Netherlands-based Group comprising three closed book insurance companies and a servicing company, was acquired on 19 May 2015 for EUR69.9m. The Waard Group, comprising Waard Leven N.V., Hollands Welvaren Leven N.V., Waard Schade N.V. and Tadas Verzekeringen B.V. was previously owned by DSB Beheer B.V., a Dutch financial services Group. The policy base of the Waard Group is predominantly term life policies, with some unit linked policies and some non-life policies. On 5 April 2017 Chesnara completed its acquisition of Legal & General Nederland Levensverzeikering Maatschappij N.V. ('LGN') for EUR161.2 million. The LGN business which has been renamed Scildon, is in the Dutch life assurance market, and as with our Swedish subsidiary Movestic, Scildon writes protection and pension new business.

Further details are available on the Company's website (www.chesnara.co.uk).

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMBSGDUUUBBGIL

(END) Dow Jones Newswires

May 16, 2018 10:58 ET (14:58 GMT)