Synthomer PLC Result of General Meeting (3148M)

TIDMSYNT

RNS Number : 3148M

Synthomer PLC

11 January 2023

LEI: 213800EHT3TI1KPQQJ56

11 January 2023

Synthomer plc

Result of General Meeting

Synthomer plc ("Synthomer" or the "Company") announces that the resolution to approve the sale of the Company's Laminates, Films and Coated Fabrics Businesses, (the "Sale") was duly passed unconditionally at its General Meeting (the "Meeting") held earlier today.

A further announcement will be made upon completion of the Sale which is expected to occur in Q1 2023.

Michael Willome, Chief Executive, said:

"This divestment is consistent with the new strategy we announced in October 2022 to increase the specialty weighting of our portfolio and focus on higher value, higher growth markets where we have strong and sustainable leadership positions. The proceeds represent excellent value for our shareholders and will help to significantly deleverage the Group."

Details of the proxy voting instructions, lodged prior to the Meeting, are set out below:

 
                              For + discretion            Against          Votes 
                                                                          Withheld 
------------------------ 
       Resolution              Votes          %       Votes       %        Votes 
        Number and                          Votes                Votes 
       Description                           Cast                Cast 
                          --------------  --------  ---------  -------  ---------- 
 Resolution: To approve 
           the 
           Sale              385,120,768     99.98     64,632     0.02     130,103 
                          --------------  --------  ---------  -------  ---------- 
 

An abstention is not a vote in law and is not counted in the calculation of proportion of votes 'For' or 'Against' a resolution.

 
Number of shareholders           -2,300 
Issued share capital at 6 p.m.   -467,336,041 ordinary shares 
 on 15 December 2021               of 10 pence each 
Number of votes per share        -One 
Number of proxies lodged         -356 
 

The full text of the Resolution is set out in the Notice of the Meeting included in the Circular to shareholders dated 16 December 2022.

In compliance with paragraph 9.6.2R of the Listing Rules, the Resolution passed at the Meeting has been submitted for filing at the National Storage Mechanism and is available for inspection on their website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Enquiries:

Synthomer plc

Tim Hughes

+ 44 7764 859147

Teneo (Financial Public Relations Adviser)

Charlie Armitstead

[phone]

This announcement contains "forward-looking statements" which includes all statements other than statements of historical fact, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations, or any statements preceded by, followed by or that include the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would, "could" or similar expressions or negatives thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date of this announcement. The Company neither undertakes nor is under any duty to update this announcement or to correct any inaccuracies in any such information which may become apparent or to provide you with any additional information, other than any requirements that the Company may have under applicable law or the Listing Rules, the Prospectus Rules, the Disclosure Guidance and Transparency Rules or MAR.

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January 11, 2023 06:30 ET (11:30 GMT)