Stelrad Group PLC Result of AGM (2454A)

TIDMSRAD

RNS Number : 2454A

Stelrad Group PLC

22 May 2023

22 May 2023

Stelrad Group PLC

("Stelrad" or the "Company")

Results of the AGM

The Directors of Stelrad Group PLC are pleased to announce that at its Annual General Meeting held on 22 May 2023, all the proposed resolutions as set out in the Notice of Annual General Meeting were passed on a poll of votes. Total votes received from shareholders by the Company either in advance of or as voted for at the meeting, were as set out below:

 
 R esolution                      Votes for     %        Votes       %      Total shares   % of total   Votes withheld 
                                                          Against            for and        voting 
                                                                             against        rights 
       To receive the Company's 
        annual report and 
        audited financial 
        statements for the 
 1      period ended 31 
  .     December 2022.            118,096,105   100.00   0           0.00   118,096,105    100.00       0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
       To receive and approve 
       the Directors' 
       Remuneration 
       Report for the period 
 2     ended 31 December 
  .    2022.                      118,093,205   100.00   2,900       0.00   118,096,105    100.00       0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
       To declare a final 
        dividend of 4.72 
        pence per Ordinary 
        Share for the year 
 3      ended 31 December 
  .     2022.                     116,396,878   98.56    1,699,227   1.44   118,096,105    98.56        0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
 4     To re-elect Bob 
  .     Ellis as a Director.      101,735,031   98.36    1,699,227   1.64   103,434,258    98.36        14,661,847 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
 5     To re-elect Trevor 
  .     Harvey as a Director.     116,396,878   98.56    1,699,227   1.44   118,096,105    98.56        0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
 6     To re-elect George 
  .     Letham as a Director.     116,396,878   98.56    1,699,227   1.44   118,096,105    98.56        0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
 7     To re-elect Terry 
  .     Miller as a Director.     115,720,646   97.99    2,375,459   2.01   118,096,105    97.99        0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
 8     To re-elect Nicola 
  .     Bruce as a Director.      118,096,105   100.00   0           0.00   118,096,105    100.00       0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
       To re-elect Martin 
 9.     Payne as a Director.      116,393,978   98.56    1,702,127   1.44   118,096,105    98.56        0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
       To re-elect Edmund 
 10.    Lazarus as a Director.    113,103,716   97.39    3,032,444   2.61   116,136,160    97.39        1,959,945 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
       To re-elect Nicholas 
 11.   Armstrong as a Director.   116,393,978   98.56    1,702,127   1.44   118,096,105    98.56        0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
       To re-appoint 
       PricewaterhouseCoopers 
       LLP as Auditors 
 12.   of the Company.            118,096,105   100.00   0           0.00   118,096,105    100.00       0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
       To authorise the 
        Audit & Risk Committee 
        to determine the 
        remuneration of 
 13.    the Auditor.              118,096,105   100.00   0           0.00   118,096,105    100.00       0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
       To authorise the 
        Company to make 
        political expenditure 
 14.    and donations.            117,416,973   99.42    679,132     0.58   118,096,105    99.42        0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
       To authorise the 
        Directors to allot 
        shares in the Company, 
        in accordance with 
        section 551 of the 
 15.    Companies Act 2006.       116,396,878   98.56    1,699,227   1.44   118,096,105    98.56        0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
       To authorise the 
        Directors to disapply 
        pre-emption rights, 
        in accordance with 
        561 of the Companies 
 16.    Act 2006.                 118,096,105   100.00   0           0.00   118,096,105    100.00       0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
       To authorise the 
        Directors to disapply 
        pre-emption rights 
        up to a further 
        5% for the purposes 
        of acquisitions 
 17.    or capital investments.   118,093,205   100.00   2,900       0.00   118,096,105    100.00       0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
       To authorise the 
        Company to purchase 
        its own ordinary 
 18.    shares                    118,096,105   100.00   0           0.00   118,096,105    100.00       0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
       To authorise the 
        Directors to call 
        a general meeting 
        other than an annual 
        general meeting 
        on not less than 
 19.    14 clear days' notice.    118,088,880   100.00   2,900       0.00   118,091,780    100.00       0 
      -------------------------  ------------  -------  ----------  -----  -------------  -----------  --------------- 
 

Subject to rule 9.2.2E of the UK Listing Rules the election of the independent Non-Executive Directors must be approved by a majority vote of both the independent shareholders (i.e. shareholders of the Company, other than Bregal, the Company's controlling shareholder, who are entitled to vote on the election of Directors), and the shareholders as a whole. Therefore, the below table displays the votes for the election of the independent Non-Executive Directors excluding the votes of the controlling shareholder:

 
 R esolution                   Votes for    %         Votes Against   %      Total shares   % of      Votes 
                                                                              for and        total     withheld 
                                                                              against        voting 
                                                                                             rights 
 7    To elect Terry 
  .    Miller as a Director.   52,616,881    95.68      2,375,459     4.32    54,992,340     43.18        0 
     -----------------------  -----------  --------  --------------  -----  -------------  --------  ---------- 
      To elect Nicola 
 8.    Bruce as a Director.    54,992,340   100.00          0         0.00    54,992,340     43.18        0 
     -----------------------  -----------  --------  --------------  -----  -------------  --------  ---------- 
 9    To elect Martin 
  .    Payne as a Director.    53,290,213   96.905%     1,702,127     3.10    54,992,340     43.18        0 
     -----------------------  -----------  --------  --------------  -----  -------------  --------  ---------- 
 

1. Full details of the resolutions are set out in the Notice of Annual General Meeting dated 28 March 2023 (which is available on the Company's website at: https://stelradplc.com/).

2. Resolutions 1 to 15 were ordinary resolutions, requiring more than 50% of shareholders' votes to be cast in favour of the resolutions. Resolutions 16 to 19 were special resolutions, requiring at least 75% of shareholders' votes to be cast in favour of the resolutions.

   3.    Votes 'For' include those votes giving the Chairman discretion. 

4. There were 127,352,555 ordinary shares in issue all of which had the right to vote. Ordinary shares held in treasury do not carry voting rights.

5. A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution.

6. Copies of all the resolutions passed, other than ordinary business, have been submitted to the National Storage Mechanism and will soon be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Enquiries :

Computershare Company Secretarial Services Limited

07966 711602

[e-mail]

Company Secretary

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May 22, 2023 11:46 ET (15:46 GMT)