Inspecs Group PLC Result of AGM (5685R)

TIDMSPEC

RNS Number : 5685R

Inspecs Group PLC

30 June 2020

30 June 2020

Inspecs Group plc

("Inspecs" the "Company" or "the Group")

Result of AGM

Inspecs Group plc, a designer, manufacturer and distributor of eyewear frames to global retail chains, announces that at the Annual General Meeting held earlier today, all resolutions were duly passed.

 
             Resolution                        For                 Against        Withheld      Total 
                                                                                                 votes 
                                                                                                 cast 
                                       Number of       %       Number       %      Number 
                                          votes                of votes            of votes 
                                      -----------  --------  ----------  ------  ----------  ----------- 
       Ordinary resolution 
        to receive and adopt 
        the Company's annual 
        accounts for the 
        financial year ended 
 1.     31 December 2019.              64,760,520   100.00%       0       0.00%       0       64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
       Ordinary resolution 
        to re-elect Lord 
        MacLaurin as a director 
 2.     of the Company.                64,760,520   100.00%       0       0.00%       0       64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
       Ordinary resolution 
        to re-elect Robin 
        Totterman as a director 
 3.     of the Company.                64,760,520   100.00%       0       0.00%       0       64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
       Ordinary resolution 
        to re-elect Christopher 
        Kay as a director 
 4.     of the Company.                64,757,311   100.00%     3,209     0.00%       0       64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
       Ordinary resolution 
        to re-elect Christopher 
        Hancock as a director 
 5.     of the Company.                64,760,520   100.00%       0       0.00%       0       64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
       Ordinary resolution 
        to re-elect Richard 
        Peck as a director 
 6.     of the Company.                64,760,520   100.00%       0       0.00%       0       64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
       Ordinary resolution 
        to re-elect Angela 
        Farrugia as a director 
 7.     of the Company.                64,760,520   100.00%       0       0.00%       0       64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
       Ordinary resolution 
        to re-appoint Ernst 
        & Young LLP as the 
        Company's auditors 
        to hold office from 
        the conclusion of 
        this meeting until 
        the conclusion of 
        the next meeting, 
        in accordance with 
 8.     normal practice.               64,760,520   100.00%       0       0.00%       0       64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
       Ordinary resolution 
        to authorise the 
        directors to determine 
        the remuneration 
 9.     of the auditors                64,760,520   100.00%       0       0.00%       0       64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
       Ordinary resolution 
        to enable the Company 
        and each of its subsidiaries 
        to make political 
 10.    donations.                     50,340,553   91.74%    4,530,758   8.26%   9,889,209   64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
       Ordinary resolution 
        to authorise the 
        directors to allot 
        ordinary shares in 
        the Company up to 
        a maximum nominal 
        amount of GBP235,818 
        and up to a further 
        maximum nominal amount 
        of GBP235,818 where 
        the allotment is 
        in connection with 
        an offer by way of 
 11.    a rights issue.                64,760,520   100.00%       0       0.00%       0       64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
       Special resolution 
        to enable the directors 
        to allot, grant options 
        over or otherwise 
        dispose of equity 
        securities for cash 
        or sell treasury 
        shares for cash up 
        to a maximum aggregate 
        nominal amount of 
        GBP35,372.70 as if 
        pre-emption rights 
        did not apply to 
 12.    such allotment.                54,874,520   100.00%       0       0.00%   9,886,000   64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
       Special Resolution 
        to further disapply 
        pre-emption rights 
        in relation to acquisitions 
        or other capital 
 13.    investments.                   64,760,520   100.00%       0       0.00%       0       64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
       Special resolution 
        to authorise the 
        Company to make market 
        purchases of up to 
        7,074,539 ordinary 
        shares (which represents 
        approximately 10 
        per cent of the Company's 
        ordinary shares (excluding 
        treasury shares) 
        in issue on 21 May 
 14.    2020).                         64,760,520   100.00%       0       0.00%       0       64,760,520 
      ------------------------------  -----------  --------  ----------  ------  ----------  ----------- 
 

For further information please contact:

 
Inspecs Group plc                         via FTI Consulting 
 Robin Totterman (CEO)                     Tel: +44 (0) 20 
 Chris Kay (CFO)                           3727 1000 
Peel Hunt (Nominated Adviser and Broker)  Tel: +44 (0) 20 
 Adrian Trimmings                          7418 8900 
 Andrew Clark 
FTI Consulting (Financial PR)             Tel: +44 (0) 20 
 Alex Beagley                              3727 1000 
 James Styles 
 Fern Duncan 
 Alice Newlyn 
 

About Inspecs Group plc

Inspecs is a designer, manufacturer and distributor of eyewear frames. The Group produces a broad range of frames, covering optical, sunglasses and safety, which are either "Branded" (either under licence or under the Group's own proprietary brands), or "OEM" (including private label on behalf of retail customers and un-branded). As one of only a few companies that can offer this one-stop-shop solution to global retail chains, Inspecs is well positioned to continue to take market share in the globally expanding eyewear market.

Inspecs customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 30,000 points of sale. In FY19, the Group generated 24.9 per cent. of its revenue in the UK and 75.1 per cent. internationally.

Today Inspecs has operations across the globe: with offices in the UK, Portugal, Scandinavia, the US and China (Hong Kong, Macau and Shenzhen), and manufacturing facilities in Vietnam, China, London and more recently, Italy.

The Group's growth strategy going forward is to: (i) continue to grow organically; (ii) undertake further acquisitions (and drive value through leveraging the Group's internal capabilities); and (iii) extend the Group's manufacturing capacity.

More information is available at: https://inspecs.com

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June 30, 2020 09:09 ET (13:09 GMT)