Results of Annual General Meeting

RNS Number : 6431W
Braemar Shipping Services PLC
19 August 2022
 

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19 August 2022

 

BRAEMAR SHIPPING SERVICES PLC

("Braemar", the "Company" or the "Group")

Results of Annual General Meeting

 

Braemar Shipping Services Plc (LSE: BMS), a leading international Shipbroker and provider of expert advice in shipping investment, chartering and risk management , is pleased to announce that each of the resolutions proposed at its Annual General Meeting (the "AGM") held earlier today were duly passed by means of a poll vote.

The poll results were as follows:

 

Resolution

Votes For

% For

Votes Against

% Against

Total Votes

% of ISC voted

Votes Withheld

4

Re-election of Elizabeth Gooch as a director

10,164,860

89.32

1,214,953

10.68

11,379,813

35.18%

43,428

5

Re-election of James Gundy as a director

10,178,911

89.41

1,205,346

10.59

11,384,257

35.19%

38,984

6

Re-election of Stephen Kunzer as a director

10,172,107

89.25

1,225,286

10.75

11,397,393

35.23%

25,848

7

Re-election of Nigel Payne as a director

10,177,032

89.30

1,219,262

10.70

11,396,294

35.23%

26,947

8

Re-election of Tristram Simmonds as a director

10,196,566

89.56

1,188,728

10.44

11,385,294

35.19%

37,947

9

Re-election of Nicholas Stone as a director

9,876,328

86.74

1,510,065

13.26

11,386,393

35.20%

36,848

10

Re-election of Joanne Lake as a director

8,488,187

74.96

2,835,944

25.04

11,324,131

35.01%

99,110

11

Re-appointment of BDO LLP as auditors

10,144,423

89.10

1,240,516

10.90

11,384,939

35.19%

38,302

12

Authority to determine the auditor's remuneration

8,241,098

74.22

2,861,769

25.78

11,102,867

34.32%

320,374

13

Authority to allot share capital

10,468,797

91.86

928,020

8.14

11,396,817

35.23%

26,424

14

Authority to disapply pre-emption rights*

9,300,183

81.64

2,091,419

18.36

11,391,602

35.21%

31,639

15

Authority to further disapply pre-emption rights*

9,297,280

81.61

2,094,472

18.39

11,391,752

35.21%

31,489

16

Authority to purchase own shares*

10,457,249

91.76

939,481

8.24

11,396,730

35.23%

26,511

17

Authority call a general meeting (other than the Annual General Meeting) on 14 clear days' notice *

10,498,710

92.11

899,317

7.89

11,398,027

35.23%

25,214

19

Changing the Company's name to Braemar Plc*

10,480,390

92.01

910,572

7.99

11,390,962

35.21%

32,279

 

* indicates special resolutions requiring a 75% majority.

The remaining business of the AGM was adjourned and further resolutions (being resolutions 1 to 3 (inclusive) and resolution 18) will be put to vote at a later date, following the publication of the Full Year Results. Braemar Shipping Services Plc expects the reconvened AGM to be in early October.

In accordance with the 2018 UK Corporate Governance Code, the Board notes that although Resolutions 10 (Re-election of Joanne Lake as Director) and 12 (Authority to determine auditor's remuneration) passed with the requisite majority, it received 20% or more votes against the Board's recommendation.  The Board is working to identify and understand the reasons behind these votes and will look to engage with the Company's shareholders as appropriate in relation to these matters.

Please note that a vote withheld is not a vote under English law and is not counted in the calculation of the votes "for" and "against" a resolution.  The total voting rights that members were entitled to exercise at the AGM were 32,349,904.

Change of company name

As announced on 15 June 2022, the Company has recently launched a new brand identity to support its streamlined strategy and the Board has determined that the name of the Company should be changed to align with this brand identity. Following shareholder approval at the Company's AGM, it is expected that the Company's change of name will become effective with the Registrar of Companies by early September 2022, and the Company will issue a further announcement to confirm when this has taken place.

There will be no change to the Company's Tradable Instrument Display Mnemonic ("BMS") following the change of name. Braemar's shares will continue to be tradeable on the Main Market of the London Stock Exchange. There will also be no change to the Company's website which is www.braemar.com

Shareholdings are unaffected by the name change, and existing share certificates should be retained, as they will remain valid for all purposes. Any new share certificates issued after the change of name becomes legally effective will bear the name Braemar Plc.

For further information, contact:

Braemar Shipping Services Plc


James Gundy, Group Chief Executive Officer

Tel +44 (0) 20 3142 4100

Nick Stone, Group Chief Financial Officer

Emma Camilleri, Company Secretary


 

Investec Bank Plc


Gary Clarence / Harry Hargreaves / Alice King

Tel +44 (0) 20 7597 5970

Cenkos Securities plc

Ben Jeynes / Max Gould (Corporate Finance)

Alex Pollen / Leif Powis (Sales)

 

Tel +44 (0) 20 7397 8900

Buchanan


Charles Ryland / Stephanie Whitmore / Jack Devoy / George Cleary

Tel +44 (0) 20 7466 5000

 

Notes to Editors:

 

About Braemar

Braemar provides expert advice in shipping investment, chartering, and risk management to enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping.

Braemar's experienced brokers work in tandem with specialist professionals to form teams tailored to its customers' needs, and provides an integrated service supported by a collaborative culture.

Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS.

For more information, including our investor presentation, please visit  www.braemar.com  and follow Braemar on  LinkedIn .

 

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