Result of AGM

FRP Advisory Group PLC
28 September 2023
 

 

28 September 2023

 

FRP Advisory Group plc

("FRP" or the "Company")

 

Result of Annual General Meeting

The Annual General Meeting of FRP c was held at the offices of Bryan Cave Leighton Paisner LLP, Governor's House, 5 Laurence Pountney Hill, London, EC4R 0BR on 28 September 2023 at 10.00 a.m.

 

All 16 resolutions put to members were passed on a poll. Resolutions 1 to 13 were passed as ordinary resolutions and resolutions 14 to 16 were passed as special resolutions.

 

The number of votes cast for and against each of the resolutions proposed, and the number of votes withheld were as follows:

 

 Resolution

Votes for

%

Votes against

%

Votes withheld

Ordinary Resolutions

Resolution 1

To receive the Company's audited accounts for the financial period ended 30 April 2023 together with the Directors' and Auditors' Report.

160,269,603

99.99

16,539

0.01

11,059

Resolution 2

To receive the Directors' Remuneration Report for the financial period ended 30 April 2023.

128,641,741

80.26

31,646,780

19.74

8,680

Resolution 3

To re-appoint Nigel Guy as a director of the Company.

153,571,003

95.81

6,715,139

4.19

11,059

Resolution 4

To re-appoint Geoffrey Rowley as a director of the Company.

160,269,445

99.99

16,697

0.01

11,059

Resolution 5

To re-appoint Jeremy French as a director of the Company.

157,397,800

98.2

2,888,342

1.8

11,059

Resolution 6

To re-appoint Gavin Jones as a director of the Company.

157,397,800

98.2

2,888,342

1.8

11,059

Resolution 7

To re-appoint Claire Balmforth as a director of the Company.

153,314,102

95.65

6,974,419

4.35

8,680

Resolution 8

To re-appoint David Chubb as a director of the Company.

159,516,095

99.52

770,047

0.48

11,059

Resolution 9

To appoint Kathryn Fleming as a director of the Company.

160,269,603

99.99

16,539

0.01

11,059

Resolution 10

To re-appoint Mazars LLP as the Company's auditors.

159,476,225

99.52

774,317

0.48

46,659

Resolution 11

To authorise the directors of the Company to determine the Auditors' fees.

160,229,575

99.96

56,567

0.04

11,059

Resolution 12

To declare a final dividend of 2.05p per ordinary share for the year ended 30 April 2023.

160,271,982

99.99

16,539

0.01

8,680

Resolution 13

To authorise the Directors to allot equity securities.

152,098,184

94.89

8,187,958

5.11

11,059

Special Resolutions

Resolution 14

To empower the Directors to allot equity securities for cash free of statutory pre-emption rights.

155,383,045

96.94

4,903,097

3.06

11,059

Resolution 15

To empower the Directors to allot equity securities for cash otherwise than on a pre-emptive basis for an acquisition or other capital investment.

143,464,477

96.7

4,903,097

3.3

11,929,627

Resolution 16

To empower the Directors to make market purchases of the Company's shares.

158,966,271

99.52

770,047

0.48

560,883

 

The Directors note the significant vote against Resolution 2. The Remuneration Committee chair has been in contact with certain external shareholders to understand shareholder concerns and explain the Company's position. The feedback received will be taken into consideration in remuneration-related decisions and disclosures in relation to the current financial year.

As at 28 September 2023, there were 250,932,590 ordinary shares in issue. Shareholders are entitled to one vote per share. Votes withheld are not votes in law and so have not been included in the calculation of the proportion of votes for and against a resolution.

 

The full text of each resolution is available in the Notice of Annual General Meeting, published on the Company's website at www.frpadvisory.com/investors/financials-documents/.

 

Enquiries:

 

FRP Advisory Group plc                                                                     

Geoff Rowley, CEO

Jeremy French, COO

Gavin Jones, CFO

Enquiries via MHP

 

Cavendish Securities plc (Nominated Adviser and Joint Broker)

Katy Birkin/Stephen Keys (Corporate Finance)

Tel: +44 (0) 207 397 8900

 

Investec Bank plc (Joint Broker)

Carlton Nelson / James Rudd (Corporate Broking)

Tel: +44 (0) 207 597 4000

 

MHP Communications (Financial Public Relations)

Oliver Hughes

Charlie Barker

Catherine Chapman

Tel: +44 (0) 783 462 3818

FRP@mhpc.com 

 

Notes to Editors

FRP is a leading national specialist business advisory firm established in 2010. It offers a range of advisory services to companies, lenders, investors and other stakeholders, as well as individuals. These services include:

 

·    Restructuring advisory: corporate financial advisory, formal insolvency appointments, informal restructuring advisory, personal insolvency and general advice to all stakeholders.

·    Corporate finance: mergers & acquisitions (M&A), strategic advisory and valuations, financial due diligence, capital raising, special situations M&A and partial exits.

·    Debt advisory: raising and refinancing debt, debt amendments and extensions, restructuring debt, asset based lending and corporate and leveraged debt advisory.

·    Forensic services: forensic investigations, compliance and risk advisory, dispute services and forensic technology.

·    Financial advisory: transaction services including financial due diligence, lender services, financial modelling, valuations, pensions and company-side advisory services. 

 

 

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