MBL Group PLC Result of AGM and GM and Directorate Change (1654S)

TIDMMUBL

RNS Number : 1654S

MBL Group PLC

28 September 2017

28 September 2017

MBL Group PLC

("MBL" or the "Company")

Result of Annual General Meeting and General Meeting and Directorate Change

Further to the announcement made earlier today, MBL announces the results of the two outstanding polls below.

At the Annual General Meeting ("AGM") held at 10:00am today, a poll was called on all the resolutions. The result of the poll is set out below:

 
Resolution                     Votes for            %      Votes against        %      Votes total 
-----------------------------  -------------------  -----  -------------------  -----  ------------ 
      1. Annual report 
       and accounts                    12,290,316   83.87            2,363,553  16.13    14,653,869 
-----------------------------  -------------------  -----  -------------------  -----  ------------ 
      2. Reappointment 
       of director                       6,595,936  45.01            8,057,933  54.99    14,653,869 
-----------------------------  -------------------  -----  -------------------  -----  ------------ 
      3. Reappointment 
       of auditors                     11,423,101   77.95            3,230,768  22.05    14,653,869 
-----------------------------  -------------------  -----  -------------------  -----  ------------ 
      4. Remuneration 
       of auditors                     12,437,082   84.87            2,216,787  15.13    14,653,869 
-----------------------------  -------------------  -----  -------------------  -----  ------------ 
      5. Political 
       donations and 
       political expenditure             2,517,767  17.18          12,136,102   82.82    14,653,869 
-----------------------------  -------------------  -----  -------------------  -----  ------------ 
      6. Authority 
       to allot shares                   4,870,658  33.58            9,633,211  66.42    14,503,869 
-----------------------------  -------------------  -----  -------------------  -----  ------------ 
      7. Disapplication 
       of pre-emption 
       rights                            4,870,658  33.58            9,633,211  66.42    14,503,869 
-----------------------------  -------------------  -----  -------------------  -----  ------------ 
      8. Purchase 
       by the Company 
       of its own shares               11,263,085   77.66            3,240,784  22.34    14,503,869 
-----------------------------  -------------------  -----  -------------------  -----  ------------ 
 

Resolutions 1, 3, 4 and 8 were passed. Resolutions 2, 5, 6 and 7 have not been passed.

At the General Meeting held at 10:30am today ("Second General Meeting"), a poll was called and the result is set out below:

 
Resolution                 Votes for  %       Votes against  %       Votes total 
-------------------------  ---------  ------  -------------  ------  ----------- 
Resolution - to 
 (i) cancel any 
 non-contractual 
 directors' bonus 
 or similar arrangements 
 for directors 
 and (ii) prevent 
 approval of any 
 bonus or similar 
 arrangements for 
 directors without 
 shareholder approval 
 by ordinary resolution.   8,069,136  55.07%  6,584,700      44.93%  14,653,836 
-------------------------  ---------  ------  -------------  ------  ----------- 
 

Because this was a special resolution, 75% of the vote would have been required to pass the resolution, consequently the resolution has not been passed.

As a result of Resolution 2 not being passed at the AGM, Peter Palframan has resigned from the Board with immediate effect. The Board would like to thank Peter for all his effort and commitment, particularly with regard to the sale process.

The Board wishes to make shareholders aware that it is in advanced negotiations with a potential new executive Director. The Board hopes to announce the appointment of the new executive Director shortly.

ENDS

For further information, please contact:

MBL Group plc Tel: [phone]

Tim Jackson-Smith

   SPARK Advisory Partners Limited                                             Tel: [phone] 

(NOMAD)

Sean Wyndham-Quin

Mark Brady

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 28, 2017 13:08 ET (17:08 GMT)