Result of AGM

Marks Electrical Group plc

11 August 2023

 

Marks Electrical Group plc

(the "Company")

Result of AGM

Marks Electrical Group plc announces that at its Annual General Meeting held at 11.00 a.m. on 10 August 2023 at its registered office at 4 Boston Road, Leicester, LE4 1AU, all 14 resolutions put to members were passed on a poll. Resolutions 1 to 11 were passed as ordinary resolutions and resolutions 12 to 14 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
Resolution 1 (Ordinary) To receive the Annual Report and Accounts of the Company for the financial year ended 31 March 2023 together with the Directors' reports and auditor's report on those accounts.	87,948,707	100.000%	0	0%	0
Resolution 2 (Ordinary) To re-elect Josh Egan as a director of the Company.	87,948,615	100.000%	0	0%	92
Resolution 3 (Ordinary) To re-elect Alyson Fadil as a director of the Company.	87,948,615	100.000%	0	0%	92
Resolution 4 (Ordinary) To re-elect Marnie Millard as a director of the Company.	87,948,615	100.000%	0	0%	92
Resolution 5 (Ordinary) To re-elect Mark Smithson as a director of the Company.	87,948,615	100.000%	0	0%	92
Resolution 6 (Ordinary) To re-elect David Wilkinson as a director of the Company.	87,939,524	100.000%	0	0%	9,183
Resolution 7 (Ordinary) To re-appoint BDO LLP as auditor of the Company to hold office until the conclusion of the next general meeting at which accounts are laid before the Company.	87,947,735	99.999%	880	0.001%	92
Resolution 8 (Ordinary) To authorise the Directors to determine the fees payable to the auditor.	87,947,735	99.999%	880	0.001%	92
Resolution 9 (Ordinary) To declare a final dividend of 0.66 pence per ordinary share for the financial year ended 31 March 2023.	87,948,707	100.000%	0	0%	0
Resolution 10 (Ordinary) To approve, on an advisory basis, the Annual Statement of the Chair of the Remuneration Committee and the Annual Report on Remuneration.	87,946,827	99.998%	1,880	0.002%	0
Resolution 11 (Ordinary) To authorise the Directors to allot shares.	87,948,707	100.000%	0	0%	0
Resolution 12 (Special) THAT, subject to resolution 11, the Directors be authorised to allot Equity Securities for cash as if section 561 of the CA 2006 did not apply.	87,947,707	99.999%	1,000	0.001%	0
Resolution 13 (Special) THAT, subject to resolution 11 and in addition to 12, the Directors be authorised to allot Equity Securities for cash as if section 561 of the CA 2006 did not apply.	87,947,707	99.999%	1,000	0.001%	0
Resolution 14 (Special) To authorise the Company to purchase its own shares.	84,473,707	100.000%	0	0%	3,475,000

As at 10 August 2023, there were 104,949,050 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 our website.

Enquiries:

Marks Electrical Group plc                                                                                 Via Dentons Global Advisors:

Mark Smithson (CEO)                                                                                                           Tel: [phone]

Josh Egan (CFO)                                                                                                                 

Dentons Global Advisors (Financial PR)

Jonathon Brill / James Styles / Fern Duncan                                                                        Tel: [phone]

[e-mail]                                                                                                                                                                                                 

Canaccord Genuity (NOMAD and Broker)

Max Hartley (Nomad) / Kit Stephenson (Sales)                                                                 Tel: [phone]                                                     

About Marks Electrical

Marks Electrical is a fast growing, highly scalable, technology driven e-commerce electricals retailer which sells, delivers, installs and recycles a wide range of household electrical products. The Group was founded in Leicester in 1987 by Mark Smithson and has scaled into a nationwide online retailer with a compelling growth track record, thanks to its vertically integrated, low-cost, high-quality operating model, supported by the ongoing structural shift of consumers to purchase online. The Group operates within the UK Major Domestic Appliances (MDA) and Consumer Electronics (CE) market, estimated to be worth approximately £7 billion.

Primarily through its simple, clear and intuitive website - markselectrical.co.uk - the Group offers over 4,500 products from over 50 leading brands across its main product categories, which include Cooking, Refrigeration, Washers & Dryers, Dishwashers and Audio-Visual. These products are sourced from UK distributors of the brands, with whom the Group maintains strong and direct relationships. Marks Electrical delivers direct to customers in its owned and branded vehicles, operated by the Group's skilled team of delivery drivers, who are also able to offer installation and recycling services.

For further information, visit the Marks Electrical corporate website: https://group.markselectrical.co.uk and its retail website: https://markselectrical.co.uk/.

 

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