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FGP Firstgroup Plc

180.40
-3.40 (-1.85%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Firstgroup Plc LSE:FGP London Ordinary Share GB0003452173 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.40 -1.85% 180.40 182.00 182.20 182.90 181.30 182.00 1,791,568 16:35:22
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Local And Suburban Transit 4.92B 87.1M 0.1313 13.88 1.21B

FirstGroup PLC Result of Meeting

27/05/2021 2:38pm

UK Regulatory


 
TIDMFGP 
 
FIRSTGROUP PLC 
 
                           RESULT OF GENERAL MEETING 
 
FirstGroup plc (the 'Company') announces that the resolution to approve the 
sale of First Student and First Transit to EQT Infrastructure (the 'Sale') was 
passed by the Company's shareholders on a poll today. The results of the poll 
are shown in the table below and will also be available on the Company's 
website. 
 
Commenting on the voting results, FirstGroup Chairman David Martin said: 
 
"We welcome the support of shareholders in approving the sale of First Student 
and First Transit. Through this transaction, FirstGroup will return value to 
shareholders, address its long-standing liabilities and make a substantial 
contribution to its pension schemes. The vital role of public transport in the 
UK has never been clearer, and FirstGroup will be in prime position to deliver 
on its goals with a well-capitalised balance sheet and an operating model that 
will support an attractive dividend for shareholders. 
 
"I and the whole Board take very seriously our responsibility to understand the 
different views and perspectives of investors, and recognise that a number of 
shareholders did not vote in favour of today's resolution. As FirstGroup enters 
a new and exciting phase in its development, I look forward to continuing an 
open and constructive dialogue with all shareholders as we look to the future." 
 
                         FOR               AGAINST           TOTAL       WITHHELD 
 
                  Number of    % of   Number of    % of    Number of    Number of 
                    votes      vote     votes      vote      votes        votes 
 
To approve the   634,485,282   61.3  400,183,387   38.7  1,034,668,669   377,312 
Sale 
 
Votes 'For' and 'Against' are expressed as a percentage of votes received. A 
'Vote withheld' is not a vote in law and is not counted in the calculation of 
the votes 'For' and 'Against' a resolution. The Company's issued share capital 
as at today's date is 1,222,228,141 ordinary shares and the number of votes per 
share is one. The Company held 157,229 shares in Treasury, which do not carry 
any voting rights. The resolution was proposed as an ordinary resolution. A 
copy of the resolution will be submitted to the Financial Conduct Authority's 
National Storage Mechanism (the 'NSM') and will be available for inspection on 
the NSM's website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. 
 
Votes were cast for a total of 1,035,045,981 ordinary shares of 5 pence per 
share, representing 84.7% of the total number of votes capable of being cast at 
the General Meeting. In total, 51.9% of the Company's voting issued share 
capital voted in favour of the resolution. 
 
The Board expects that, subject to the satisfaction and/or waiver (where 
applicable) of the other conditions precedent to the Sale, completion will 
occur in the second half of the 2021 calendar year. It is envisaged that, 
shortly following completion, full details of a proposed return of value to 
FirstGroup shareholders will be made available and, if necessary, a general 
meeting of the Company will be convened to seek shareholder approval to effect 
the proposed return of value. 
 
Contacts at FirstGroup: 
Faisal Tabbah, Head of Investor Relations 
Stuart Butchers, Group Head of Communications 
corporate.comms@firstgroup.com 
+44 (0) 20 7725 3354 
 
Contacts at Brunswick PR: 
Andrew Porter / Simone Selzer, Tel: +44 (0) 20 7404 5959 
 
Legal Entity Identifier (LEI): 549300DEJZCPWA4HKM93. Classification as per DTR 
6 Annex 1R: 3.1. 
 
About FirstGroup 
 
FirstGroup plc (LSE: FGP.L) is a leading provider of transport services in the 
UK and North America. With £7.8bn in revenue in the year to 31 March 2020 and 
around 100,000 employees, we transported 2.1bn passengers. Whether for 
business, education, health, social or recreation - we get our customers where 
they want to be, when they want to be there. We create solutions that reduce 
complexity, making travel smoother and life easier. We provide easy and 
convenient mobility, improving quality of life by connecting people and 
communities. Visit our website at www.firstgroupplc.com and follow us 
@firstgroupplc on Twitter. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

May 27, 2021 09:38 ET (13:38 GMT)

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