Volex PLC Results of AGM, Issue of Equity and TVR

TIDMVLX

RNS Number : 6786W

Volex PLC

19 August 2022

19 August 2022

Volex plc

("Volex" or "the Company")

Results of Annual General Meeting, Issue of Equity

and

Total Voting Rights

Volex plc (AIM:VLX), the global supplier of integrated manufacturing services and power products, is pleased to announce the results of its AGM, held earlier today, at which all resolutions were duly passed on a poll.

As a consequence, Volex confirms that, further to the announcement made on 29 July 2022 in relation to the Scrip Dividend Scheme and the receipt by the Company of valid elections from certain shareholders, 377,615 new ordinary shares of 25 pence each (the "Scrip Dividend Shares") will be issued in satisfaction of such elections in respect of the final dividend for the year ended 3 April 2022.

Application will be made to the London Stock Exchange for the Scrip Dividend Shares to be admitted to AIM, with the admission date expected to be on or around 26 August 2022. On admission, the Scrip Dividend Shares will rank pari passu in all respects with the existing ordinary shares of the Company.

The total number of votes received on each resolution put to the AGM is as follows:

 
       Resolution                Percentage    Votes For    Votes Against   Votes        Total votes   Percentage 
                                  in Favour*                                 Withheld*    cast          of 
                                                                                                        issued 
                                                                                                        share 
                                                                                                        capital 
                                                                                                        voted 
       To receive 
        the audited 
        accounts of 
        the Company 
        for the financial 
        year ended 
 1.     3 April 2022               99.98%      90,941,617      18,628        138,379     91,098,624      57.40 
      ------------------------  ------------  -----------  --------------  -----------  ------------  ----------- 
       To approve 
        the Remuneration 
        Committee 
 2.     report                     97.00%      88,335,758     2,736,019       26,847     91,098,624      57.40 
      ------------------------  ------------  -----------  --------------  -----------  ------------  ----------- 
       To declare 
        a final dividend 
        of 2.4 pence 
        per ordinary 
        share for 
        the financial 
        year ended 
 3.     3 April 2022               99.99%      91,093,782       3,567         1,275      91,098,624      57.40 
      ------------------------  ------------  -----------  --------------  -----------  ------------  ----------- 
       To re-elect 
        Nathaniel 
        Rothschild 
 4.     as a Director              98.87%      83,437,704      950,938      6,709,982    91,098,624      57.40 
      ------------------------  ------------  -----------  --------------  -----------  ------------  ----------- 
       To re-elect 
        Jeffrey Jackson 
 5.     as a Director              99.72%      90,831,404      256,266        10,954     91,098,624      57.40 
      ------------------------  ------------  -----------  --------------  -----------  ------------  ----------- 
       To re-appoint 
        PricewaterhouseCoopers 
        LLP as auditors 
 6.     of the Company             97.21%      88,541,123     2,544,914       12,587     91,098,624      57.40 
      ------------------------  ------------  -----------  --------------  -----------  ------------  ----------- 
       To authorise 
        the Directors 
        to determine 
        the remuneration 
 7.     of the auditors            97.31%      88,585,035     2,449,911       63,678     91,098,624      57.40 
      ------------------------  ------------  -----------  --------------  -----------  ------------  ----------- 
       To authorise 
        the Directors 
        to offer the 
        holders of 
        ordinary shares 
        in the Company, 
        to the extent 
        and in the 
        manner determined 
        by the Directors, 
        the right 
        to elect to 
        receive new 
        ordinary shares 
        instead of 
        cash, in respect 
        of all or 
        part of any 
        dividend which 
        may be declared 
        or paid in 
        the period 
        between the 
        date of passing 
        of this Resolution 
        and the conclusion 
        of the Annual 
        General Meeting 
        of the Company 
        to be held 
 8.     in 2025                    99.98%      91,016,655      21,806         60,163     91,098,624      57.40 
      ------------------------  ------------  -----------  --------------  -----------  ------------  ----------- 
       Subject to 
        the passing 
        of Resolution 
        8, to authorise 
        the Directors 
        to capitalise 
        the appropriate 
        nominal amounts 
        of new shares 
        of the Company 
        allotted pursuant 
        to the Company's 
        Scrip Dividend 
        Scheme out 
        of the sums 
        standing to 
        the credit 
        of any reserve 
        or account 
 9.     of the Company             99.95%      90,994,316      41,801         62,507     91,098,624      57.40 
      ------------------------  ------------  -----------  --------------  -----------  ------------  ----------- 
       To authorise 
        the Directors 
        to allot shares 
        in the Company 
        pursuant to 
        section 551 
        of the Companies 
        Act 2006 (the 
 10.    "2006 Act")                99.83%      90,880,888      157,573        60,163     91,098,624      57.40 
      ------------------------  ------------  -----------  --------------  -----------  ------------  ----------- 
       To authorise 
        the Directors 
        to allot equity 
        securities 
        under the 
        authority 
        conferred 
        by Resolution 
        10 as if section 
        561 of the 
        2006 Act did 
 11.    not apply                  96.54%      88,092,942     3,158,048       62,507     91,313,497      57.53 
      ------------------------  ------------  -----------  --------------  -----------  ------------  ----------- 
       To further 
        authorise 
        the Directors, 
        in addition 
        to any authority 
        granted under 
        Resolution 
        11 and only 
        in connection 
        with an acquisition 
        or specified 
        capital investment, 
        to allot equity 
        securities 
        as if section 
        561 of the 
        2006 Act did 
 12.    not apply                  96.54%      88,090,914     3,158,959       63,624     91,313,497      57.53 
      ------------------------  ------------  -----------  --------------  -----------  ------------  ----------- 
       To authorise 
        the Company 
        to make purchases 
        of its own 
        shares in 
        accordance 
        with section 
        701 of the 
 13.    2006 Act                   99.95%      90,924,864      42,823        345,810     91,313,497      57.53 
      ------------------------  ------------  -----------  --------------  -----------  ------------  ----------- 
 

Total Voting Rights

Following the issue of the Scrip Dividend Shares, the Company's total issued share capital will consist of 159,096,324 ordinary shares of 25 pence each with one voting right per share.

As the Company does not hold any shares in treasury, the total number of voting rights in the Company is also 159,096,324 and this figure of ordinary shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Notes

*A vote withheld is not treated as a vote in law and is not counted in the calculation of the proportion of the votes cast for or against a resolution.

Resolutions 1 to 10 were ordinary resolutions, requiring a simple majority of votes cast to pass, while resolutions 11 to 13 were special resolutions, requiring at least 75% support to pass.

The total number of Volex shares in issue at 6.00 p.m. on 17 August 2022, being those eligible to be voted on at the AGM, was 158,718,709.

The full text of each of the resolutions is set out in the Notice of AGM, which is available on the Volex website ( www.volex.com ) on the "Shareholder Information" page in the Investor Relations section.

For further information please contact :

 
                                                 +44 (0)7971 
 Volex plc                                        156 431 
 Nat Rothschild, Executive Chairman 
 Jon Boaden, Chief Financial Officer 
 Christian Bedford, Group General Counsel and 
  Company Secretary 
 Singer Capital Markets (Nominated Adviser       [phone] 
  & Joint Broker)                                 3000 
 Shaun Dobson / George Tzimas 
                                                 [phone] 
 HSBC Bank plc - Joint Broker                     8888 
 Simon Alexander / Joe Weaving 
 

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August 19, 2022 12:32 ET (16:32 GMT)