Watchstone Group PLC - Result of AGM
Announcement provided by
Watchstone Group PLC · WTG29/05/2024 10:23
Watchstone Group plc
("Watchstone" or the "Company")
RESULT OF ANNUAL GENERAL MEETING
Watchstone Group plc's 2024 AGM was held earlier today, and all resolutions proposed were duly passed as follows:
|
Resolution |
Votes for |
% |
Votes against |
% |
Votes total |
% of ISC voted |
Votes withheld
|
|
1 |
24,188,174 |
99.30% |
170,810 |
0.70% |
24,358,984 |
52.91% |
158,235 |
|
2 |
24,327,790 |
99.44% |
137,049 |
0.56% |
24,464,839 |
53.14% |
52,380 |
|
3 |
24,131,042 |
98.50% |
368,562 |
1.50% |
24,499,604 |
53.21% |
17,615 |
|
4 |
24,355,341 |
99.41% |
144,263 |
0.59% |
24,499,604 |
53.21% |
17,615 |
|
5 |
24,505,848 |
99.96% |
10,549 |
0.04% |
24,516,397 |
53.25% |
822 |
The Company also announces that as of the end of the 2024 financial year, Stefan Borson, Chief Executive Officer will cease to be employed full time by the Company and his fixed remuneration will be reduced to nil. From 1 January 2025, he will remain as a Director and receive only variable incentives dependent on any further distributions and recoveries (if any). Richard Rose has also agreed to continue as Non-executive Chairman with a very significantly reduced Director's service fee.
The proposed reduction of the Company's share premium account ("Share Premium Reduction") and a proposed return of cash to Shareholders ("Return of Cash") as approved by resolution 5 remain subject to Court approval.
EXPECTED TIMETABLE OF EVENTS RELATING TO THE RETURN OF CASH
|
Court Hearing to confirm the Share Premium Reduction |
2 July 2024 |
|
Record Date relating to the Return of Cash |
3 July 2024 |
|
Ordinary Shares commence trading ex-entitlement to the Return of Cash |
8.00 a.m. on 4 July 2024 |
|
Registration of Court Order and Effective Date of the Return of Cash |
4 July 2024 |
|
Dispatch of cheques to shareholders or shareholders' CREST accounts credited (as appropriate) in respect of the Return of Cash entitlements |
On or around 12 July 2024 |
Notes
These dates are estimates only, being subject to agreement of hearing dates with the Court. Any changes will be notified to shareholders by an announcement on the Regulatory News Service.
All references to time in this announcement are to
For further information:
|
Watchstone Group plc investor.relations@watchstonegroup.com |
Tel: 03333 448048 |
|
WH Ireland Limited, Financial Adviser and Broker Antonio Bossi / James Bavister |
Tel: 020 7220 1666 |
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