Result of General Meeting

Marlowe PLC

19 June 2023

 

19 June 2023 

Marlowe plc

Result of General Meeting

On 2 June 2023, Marlowe plc ("Marlowe", the "Company" or the "Group"), the UK leader in business-critical services and software which assure regulatory compliance, announced that it was proposing to undertake a capital reduction of the Company's share premium account (the "Capital Reduction").

Whilst the Board and management remain focussed on the continued execution of the Company's stated growth strategy, the Capital Reduction is a means of avoiding a potential restriction on the Company's ability to either make dividend payments and other distributions or to purchase its own shares in the future. Shareholders should note that the Capital Reduction itself will not involve any distribution or repayment of share premium by the Company and will not reduce the net assets of the Company. 

The Capital Reduction was subject, inter alia, to approval by Shareholders at a general meeting. The Company is pleased to announce that the Resolution at the General Meeting held today was duly passed.

The proxy votes cast prior to the General Meeting were as follows:

Resolution	For	%	Against	%	Withheld*
1	55,862,865	99.99	1,537	0.01	5,636

*A vote "Withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" or "Against" the Resolution.

The Company will now apply to the Court for confirmation of the Capital Reduction. The Capital Reduction will only become effective if the Court confirms the Capital Reduction and the order of the Court confirming the Capital Reduction is delivered to, and registered by, the Registrar of Companies in England and Wales.

EXPECTED TIMETABLE OF REMAINING PRINCIPAL EVENTS

Final hearing and confirmation of the Capital Reduction by the Court	4 July 2023
Capital Reduction becomes effective	7 July 2023

For further information:

Marlowe plc
Alex Dacre, Chief Executive		www.marloweplc.com
Adam Councell, Chief Financial Officer		Tel: [phone]
Benjamin Tucker, Investor Relations Manager		[e-mail]
Cenkos Securities plc (Nominated Adviser and Joint Broker)
Ben Jeynes		Tel: [phone]
George Lawson
Berenberg (Joint Broker)
Ben Wright	Tel: [phone]
Mark Whitmore
Stifel (Joint Broker)
Matthew Blawat	Tel: [phone]
Francis North
FTI Consulting
Nick Hasell	Tel: [phone]
Alex Le May

About Marlowe plc

Marlowe is a leader in business-critical services and software which assure regulatory compliance. The company was formed to create sustainable shareholder value through the acquisition and development of businesses that provide regulated safety and compliance services and software. It is focused on compliance software, eLearning, health & safety, employment law & HR compliance, fire safety & security, water & air hygiene and occupational health services - all of which are vital to the wellbeing of its customers operations and are invariably governed by regulation. Marlowe currently provides software to over 1 million users and services to over 25% of Britain's commercial premises. The Group provides customers with a single outsourced, nationwide, provider of a range of regulated compliance and safety solutions. Our customers can be found in office complexes, high streets & leisure facilities, manufacturing plants and industrial estates, and include thousands of SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.

 

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