DP Eurasia N.V Results of 2018 Annual General Meeting (2306P)

TIDMDPEU

RNS Number : 2306P

DP Eurasia N.V

24 May 2018

 
 For Immediate Release   24 May 2018 
 

DP Eurasia N.V.

("DP Eurasia" or the "Company")

Results of 2018 Annual General Meeting

DP Eurasia (DPEU.L), the master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia, announces that at its Annual General Meeting ('AGM') held today, 24 May 2018, all resolutions set out in the Notice of the AGM were voted on a poll and were passed by the requisite majorities. The poll results of each resolution are set out in the table below:

 
       Resolution            No of       %       No of       %        Total        No of 
                             votes                votes              of votes      votes 
                           in favour             against               cast       withheld 
                                                                    (excluding 
                                                                      votes 
                                                                    withheld) 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 1. Adoption 
  of the annual 
  accounts                124,638,822   100        0         0     124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 2. Appropriation 
  of profit               124,638,822   100        0         0     124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 3. Discharge 
  Executive 
  Directors               124,638,822   100        0         0     124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 4. Discharge 
  Non-Executive 
  Directors               124,638,822   100        0         0     124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 5. Annual 
  remuneration 
  report                  121,729,975   97,7   2,908,847    2,3    124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 6. Remuneration 
  policy for 
  the Executive 
  Directors               120,581,673   96,7   2,926,837    2,3    123,508,510   1,130,312 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 7. Remuneration 
  of the Non-Executive 
  Directors               124,638,822   100        0         0     124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 8. Reappointment 
  A. Saranga              124,638,822   100        0         0     124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 9. Reappointment 
  F. Slot                 124,486,775   99,9    152,047     0,01   124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 10. Reappointment 
  S. Tari                 121,261,693   97,3   3,377,129    2,7    124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 11. Reappointment 
  İ. Talu            121,238,750   97,3   3,400,072    2,7    124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 12. Reappointment 
  A. ahin                 121,261,693   97,3   3,377,129    2,7    124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 13. a. Reappointment 
  P. Williams 
  by the general 
  meeting                 107,438,016   86,2   17,200,806   13,8   124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 13. b. Reappointment 
  P. Williams 
  by the general 
  meeting excluding 
  the controlling 
  shareholder             45,202,893    72,4   17,200,806   27,6   62,403,699        0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 14. a. Reappointment 
  T. Singer 
  by the general 
  meeting                 124,638,822   100        0         0     124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 14. b. Reappointment 
  T. Singer 
  by the general 
  meeting excluding 
  the controlling 
  shareholder             124,638,822   100        0         0     124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 15. Confirmation 
  appointment 
  external auditor        124,638,822   100        0         0     124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 16. Authorisation 
  to use electronic 
  means                   124,638,822   100        0         0     124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 17. a. Authorisation 
  Board to issue 
  shares and 
  grant rights 
  to subscribe 
  for shares              124,638,822   100        0         0     124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 17. b. Authorisation 
  Board to restrict 
  or exclude 
  pre-emptive 
  rights                  124,638,822   100        0         0     124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 18. Authorisation 
  Board to purchase 
  shares                  124,638,822   100        0         0     124,638,822       0 
-----------------------  ------------  -----  -----------  -----  ------------  ---------- 
 

All resolutions presented to shareholders at today's AGM were passed with a majority of votes. However, the Board notes that a significant minority of votes were received against the re-election of our Chairman, Peter Williams (Resolution 13.b).

While the Board is pleased that the resolutions have received shareholder approval, it also acknowledges the views of the shareholders who voted against Resolution 13.b. The Board seeks to ensure that each Director has time to meet the requirements of their role and is satisfied that all Directors, including Peter Williams, have sufficient capacity to meet their commitments to DP Eurasia, including during periods when DP Eurasia or other commitments require greater than usual involvement. We have interacted with a number of our shareholders and corresponded with proxy advisor bodies over concerns raised about Peter's time commitments and will continue to engage with shareholders over the course of the year on this matter.

Notes:

The Company has in issue on 24 May 2018, 145,372,414 ordinary shares of EUR0.12 each, which confer voting rights of one vote per share. 124,638,822 ordinary shares were validly present or represented at the AGM, which is 85,74% of the Company's issued share capital.

A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" and "against" a resolution.

In accordance with Listing Rules 9.6.2 R, 9.6.3(1) R and 9.6.18 R, copies of the resolutions (other than those resolutions which form the ordinary business of the AGM) passed by the Company's shareholders have been submitted to the National Storage Mechanism and will be available in due course for inspection at www.morningstar.co.uk/uk/NSM.

The voting results are available for viewing on the Investor Relations section of the Company's website at www.dpeurasia.com.

Enquiries

 
 DP Eurasia N.V. 
 Selim Kender, Chief Strategy 
  Officer & Head of Investor Relations    [phone] 
 
 Buchanan (Financial Communications) 
 Richard Oldworth/ Madeleine Seacombe     [phone] 
                                           [e-mail] 
 
 

Notes to Editors

DP Eurasia is the exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia. The Company was admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange plc on 3 July 2017. The Company (together with its subsidiaries, the "Group") is the largest pizza delivery company in Turkey and the third largest in Russia. The Group offers pizza delivery and takeaway/ eat-in facilities at its 643 stores (514 in Turkey, 121 in Russia, five in Azerbaijan and three in Georgia as at 31 December 2017), and operates through its owned corporate stores (37%) and franchised stores (63%). The Group maintains a strategic balance between corporate and franchised stores, establishing networks of corporate-owned stores in its most densely populated areas to provide a development platform upon which to promote best practice and maximise profitability. The Group has adapted the Domino's Pizza globally proven business model to its local markets.

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May 24, 2018 09:38 ET (13:38 GMT)