CML Microsystems PLC Result of AGM (4002H)

TIDMCML

RNS Number : 4002H

CML Microsystems PLC

31 July 2019

CML Microsystems Plc

Results of the 2019 Annual General Meeting

CML Microsystems Plc (the "Group" or the "Company"), which designs, manufactures and markets semiconductors, primarily for global communication and solid state storage markets, today held its Annual General Meeting ("AGM") at 11.00am, Wednesday 31 July 2019. All resolutions put to the shareholders as set out in the Notice of AGM dated 21 June 2019 were passed with the requisite majorities on a show of hands. Details of the proxy and CREST 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 2019.            13,292,864     100.00   0           0.00    0          0.00 
                                    -------------  -------  ----------  ------  ---------  ----- 
  2. To receive and approve 
   the Directors' Remuneration 
   Report for the year ended 
   31st March 2019.                  12,619,669     94.95    673,195     5.05    0          0.00 
                                    -------------  -------  ----------  ------  ---------  ----- 
  3. To declare a final 
   dividend of 5.8p per 5p 
   ordinary share for the 
   year ended 31 March 2019.         13,292,864     100.00   0           0.00    0          0.00 
                                    -------------  -------  ----------  ------  ---------  ----- 
  4. To re-appoint H. F. 
   Rudden as Director, who 
   retires from the Board 
   by rotation.                      13,289,380     99.97    3,484       0.03    0          0.00 
                                    -------------  -------  ----------  ------  ---------  ----- 
  5. To re-appoint N. G. 
   Clark as Director, who 
   retires from the Board 
   by rotation.                      12,720,645     95.70    3,484       0.02    568,735    4.28 
                                    -------------  -------  ----------  ------  ---------  ----- 
  6. To send or supply all 
   documents or information 
   relating to the Company 
   to members by making them 
   available on a website.           13,291,434     99.99    970         0.01    460        0.00 
                                    -------------  -------  ----------  ------  ---------  ----- 
  7. To re-appoint RSM UK 
   Audit LLP, as auditor 
   of the Company.                   13,292,864     100.00   0           0.00    0          0.00 
                                    -------------  -------  ----------  ------  ---------  ----- 
  8. To authorise the Directors 
   to determine the remuneration 
   of the auditor.                   13,246,864     99.65    46,000      0.35    0          0.00 
                                    -------------  -------  ----------  ------  ---------  ----- 
  9. To authorise the Directors 
   to allot shares.                  13,292,864     100.00   0           0.00    0          0.00 
                                    -------------  -------  ----------  ------  ---------  ----- 
  10. To disapply the pre-emption 
   provisions of The Companies 
   Act 2006.                         12,727,404     95.75    565,460     4.25    0          0.00 
                                    -------------  -------  ----------  ------  ---------  ----- 
  11. To disapply the pre-emption 
   provisions of The Companies 
   Act 2006 for the purposes 
   of financing an acquisition 
   or capital investment.            11,175,077     84.07    2,117,787   15.93   0          0.00 
                                    -------------  -------  ----------  ------  ---------  ----- 
  12. To renew the authority 
   to the Company to make 
   market purchases of its 
   own shares.                       13,292,864     100.00   0           0.00    0          0.00 
                                    -------------  -------  ----------  ------  ---------  ----- 
  CML Microsystems Plc                       www.cmlmicroplc.com 
   Chris Gurry, Group Managing                Tel: [phone] 
   Director 
   Neil Pritchard, Group Financial 
   Director 
 Shore Capital                              Tel: [phone] 
  Edward Mansfield 
  James Thomas 
 SP Angel Corporate Finance                 Tel: [phone] 
  LLP 
  Jeff Keating 
 Alma PR                                     Tel: [phone] 
  Josh Royston 
  Caroline Forde 
 
 

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 a net cash position and is dividend paying.

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July 31, 2019 07:22 ET (11:22 GMT)