RA International Group PLC Result of AGM (2084B)

TIDMRAI

RNS Number : 2084B

RA International Group PLC

08 June 2021

RA INTERNATIONAL GROUP PLC

("RA International" or the "Company")

Results of the Annual General Meeting

RA International Group PLC (AIM: RAI), a specialist provider of complex and integrated remote site services to Humanitarian, Governmental and Commercial organisations globally , announces that all resolutions put to the Shareholders at the Annual General Meeting of the Company held earlier today were duly passed.

AGM Resolutions

Resolutions 1 to 7 were proposed as ordinary resolutions. Resolutions 8 to 10 were proposed as special resolutions. The proxy votes cast prior to the meeting were as follows:

 
 Eligible votes                                     171,662,973 
 Voted total (incl all validly made proxy votes)    152,950,865 
                                                   ------------ 
 Voted total (%)                                    89.10 
                                                   ------------ 
 
 
 RESOLUTIONS                 Votes For     %        Votes Against   %      Votes Cast    Votes 
                                                                                          withheld 
 1. To receive 
  and adopt the 
  annual accounts 
  for the year 
  ended 31 December 
  2020.                      152,943,492   100.00   0               0.00   152,943,492   7,373 
                            ------------  -------  --------------  -----  ------------  ---------- 
 2. To reappoint 
  Ernst & Young 
  LLP as auditors 
  of the company.            152,901,476   99.97    43,843          0.03   152,945,319   5,546 
                            ------------  -------  --------------  -----  ------------  ---------- 
 3. To authorise 
  the directors 
  to fix the remuneration 
  of the auditors.           152,907,889   99.97    38,470          0.03   152,946,359   4,506 
                            ------------  -------  --------------  -----  ------------  ---------- 
 4. To re-appoint 
  Sangita Shah 
  as a director.             152,944,814   100.00   1,545           0.00   152,946,359   4,506 
                            ------------  -------  --------------  -----  ------------  ---------- 
 5. To re-appoint 
  Alec Carstairs 
  as a director.             152,946,161   100.00   198             0.00   152,946,359   4,506 
                            ------------  -------  --------------  -----  ------------  ---------- 
 6. To declare 
  a final dividend.          152,950,865   100.00   0               0.00   152,950,865   0 
                            ------------  -------  --------------  -----  ------------  ---------- 
 7. To confer 
  on the Directors 
  authority to 
  allot securities 
  in accordance 
  with Section 
  551 of the Companies 
  Act 2006.                  152,941,984   100.00   1,696           0.00   152,943,680   7,185 
                            ------------  -------  --------------  -----  ------------  ---------- 
 8. To confer 
  on the Directors 
  power to allot 
  securities under 
  a disapplication 
  of Section 561 
  of the Companies 
  Act 2006.                  148,869,637   97.34    4,074,043       2.66   152,943,680   7,185 
                            ------------  -------  --------------  -----  ------------  ---------- 
 9. To authorise 
  the Company 
  to make market 
  purchases of 
  its own shares 
  for the purposes 
  of Sections 
  693 and 701 
  of the Companies 
  Act 2006.                  152,949,518   100.00   1,347           0.00   152,950,865   0 
                            ------------  -------  --------------  -----  ------------  ---------- 
 10. To adopt 
  new articles 
  of association.            152,945,492   100.00   867             0.00   152,946,359   4,506 
                            ------------  -------  --------------  -----  ------------  ---------- 
 

A vote withheld is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" and "Against" any resolution.

The Company notes it received 4,074,043 votes against Resolution 8. Although this was less than 3% of the total votes cast, the board acknowledges that it is more than 20% of the independent votes cast in respect of Resolution 8. The board, through its advisors, has been in consultation with the largest shareholder voting against this resolution and understand that the requested authority to allot up to 20% of the Company's issued share capital, without the need to hold a shareholder meeting, or to first offer them to existing shareholders, was not something they were comfortable with.

As highlighted in the AGM Notice, RA International does not have any intention at the moment to utilise this authority, but it was requested to maintain future financial flexibility. The board continues to believe that it is in the best interests of RA International at this stage of the Company's journey. However, the board will keep the level of this authority under review and continue to bear in mind the views of shareholders in the utilization of these share authorities.

Enquiries:

 
 RA International Group PLC                               Via Bamburgh 
  Soraya Narfeldt, Chief Executive Officer                     Capital 
  Lars Narfeldt, Chief Operating Officer 
  Andrew Bolter, Chief Financial Officer 
 Canaccord Genuity Limited (Nominated Adviser 
  and Broker) 
  Bobbie Hilliam                                        [phone] 
  Alex Aylen                                                      8000 
 Bamburgh Capital Limited (Financial PR &               [phone] 
  Investor Relations)                                             7442 
  Murdo Montgomery                                [e-mail] 
 

About RA International

RA International is a leading provider of services to remote locations in Africa and the Middle East. The Company offers its services through three channels: construction, integrated facilities management and supply chain, and services three main client groups: humanitarian and aid agencies, governments and commercial customers, predominantly in the oil and gas and mining sectors. It has a strong customer base, largely comprising UN agencies, western governments and global corporations.

The Company provides comprehensive, flexible, mission critical support to its clients enabling them to focus on the delivery of their respective businesses and services. Focusing on integrity and values alongside making on-going investment in its people, locations and operations has over time created a reliable and trusted brand within its sector.

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June 08, 2021 10:21 ET (14:21 GMT)