Mirriad Advertising PLC Approval of resolutions at AGM (8465B)

TIDMMIRI

RNS Number : 8465B

Mirriad Advertising PLC

14 June 2021

14 June 2021

Mirriad Advertising plc

("Mirriad" or the "Company")

Approval of resolutions at AGM

Mirriad Advertising plc, the leading in-content advertising company, announces that on 14 June 2021, it held its annual general meeting of shareholders (the "Meeting").

During the business proceedings at the Meeting, Mirriad shareholders passed all resolutions as follows:

 
                           VOTES        %        VOTES        %        VOTES      % of ISC     VOTES 
                            FOR                  AGAINST               TOTAL        VOTED      WITHELD 
 Resolution 
  1 - Receive 
  Report 
  and Accounts          183,255,397   100      0            0       183,255,397   65.68      8,700 
                       ------------  -------  -----------  ------  ------------  ---------  ----------- 
 Resolution 
  2 - Approve 
  Remuneration 
  Report                139,814,009   76.29    43,441,388   23.71   183,255,397   65.68      8,700 
                       ------------  -------  -----------  ------  ------------  ---------  ----------- 
 Resolution 
  3 - Re-appoint 
  auditor               182,471,394   99.57    784,003      0.43    183,255,397   65.68      8,700 
                       ------------  -------  -----------  ------  ------------  ---------  ----------- 
 Resolution 
  4 - Remuneration 
  of auditor            182,471,394   99.57    784,003      0.43    183,255,397   65.68      8,700 
                       ------------  -------  -----------  ------  ------------  ---------  ----------- 
 Resolution 
  5 - Elect 
  Kelsey 
  Lynn Skinner          156,776,388   88.10    21,178,243   11.90   177,954,631   63.78      5,309,466 
                       ------------  -------  -----------  ------  ------------  ---------  ----------- 
 Resolution 
  6 - Re-elect 
  John Pearson          156,776,388   94.88    8,466,924    5.12    165,243,312   59.23      18,020,785 
                       ------------  -------  -----------  ------  ------------  ---------  ----------- 
 Resolution 
  7 - Re-elect 
  David 
  Dorans                183,255,397   100.00   0            0       183,255,397   65.68      8,700 
                       ------------  -------  -----------  ------  ------------  ---------  ----------- 
 Resolution 
  8 - Authority 
  to allot 
  shares                183,255,397   100.00   0            0       183,255,397   65.68      8,700 
                       ------------  -------  -----------  ------  ------------  ---------  ----------- 
 Resolution 
  9 - Disapplication 
  of pre-emption 
  rights                181,581,647   99.11    1,623,750    0.89    183,205,397   65.66      58,700 
                       ------------  -------  -----------  ------  ------------  ---------  ----------- 
 

Notes:

   1.     All resolutions were passed. 

2. The Company notes it received 43,441,388 votes against Resolution 2. Although this only represented 23.71% of the total votes cast, the board acknowledges that it is more than 20% of the independent votes cast in respect of Resolution 2. The Board acknowledges that this was based on a potential concern about the level of independence of certain Non-executive Directors, given the share option packages they received during the year. These options were fully disclosed in the Annual Report and Account for 2019 and were the subject of a shareholder vote on the Remuneration Report at the 2020 AGM which was unanimously carried.

The Chairman noted in his Corporate Governance Statement in the 2020 Annual Report and Accounts that, although he and Bob Head have been granted options to purchase shares in the Company, t he Board as a whole is satisfied that both he and Bob Head are considered by the Board to be independent in character and judgement and that there are no relationships or circumstances that would materially affect or interfere with the exercise of their independent judgement, including the options held.

Following today's AGM result, the Board will reflect and review its policy on Non-executive Director remuneration and will look to discuss further with its institutional shareholders as appropriate.

3. The full text of the resolutions passed at the AGM can be found in the Notice of Annual General Meeting made available on the Company's website at mirriadplc.com/investor-relations/reports-and-documents.

   4.     Computershare acted as scrutineer of the poll on all resolutions. 

John Pearson, Chairman of Mirriad , said: "We have worked hard to provide operational stability during what has been a challenging period, and I'm pleased to see this recognised by shareholders today. Our priority remains building for long-term scale while also maximising shareholder value.

ENDS

About Mirriad

Mirriad's market-first solution seamlessly integrates with existing subscription and advertising models, improving the viewer experience by limiting commercial interruptions whilst delivering dramatically increased reach and impact for advertisers.

Mirriad currently operates in the US, Europe and China.

Enquiries:

For further information please visit www.mirriad.com or contact:

Mirriad Advertising plc

Stephan Beringer, Chief Executive Officer

David Dorans, Chief Financial Officer

Tel: [phone]

Nominated Adviser & Broker:

Canaccord Genuity Limited

Simon Bridges

Richard Andrews

Thomas Diehl

Tel: [phone]

Financial Communications:

Charlotte Street Partners

Tom Gillingham Tel: [phone]

Andrew Wilson Tel: [phone]

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June 14, 2021 10:51 ET (14:51 GMT)