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Inspecs Group PLC (SPEC)

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Tuesday 30 June, 2020

Inspecs Group PLC

Result of AGM

RNS Number : 5685R
Inspecs Group PLC
30 June 2020
 

30 June 2020

Inspecs Group plc

("Inspecs" the "Company" or "the Group")

Result of AGM

 

Inspecs Group plc, a designer, manufacturer and distributor of eyewear frames to global retail chains, announces that at the Annual General Meeting held earlier today, all resolutions were duly passed.

 

Resolution

For

Against

Withheld

Total votes cast

Number of

votes

%

Number of votes

%

Number of votes


1.

Ordinary resolution to receive and adopt the Company's annual accounts for the financial year ended 31 December 2019.

64,760,520

100.00%

0

0.00%

0

64,760,520

2.

Ordinary resolution to re-elect Lord MacLaurin as a director of the Company.

64,760,520

100.00%

0

0.00%

0

64,760,520

3.

Ordinary resolution to re-elect Robin Totterman as a director of the Company.

64,760,520

100.00%

0

0.00%

0

64,760,520

4.

 

 

Ordinary resolution to re-elect Christopher Kay as a director of the Company.

64,757,311

100.00%

3,209

0.00%

0

64,760,520

5.

 

 

Ordinary resolution to re-elect Christopher Hancock as a director of the Company.

64,760,520

100.00%

0

0.00%

0

64,760,520

6.

 

 

Ordinary resolution to re-elect Richard Peck as a director of the Company.

64,760,520

100.00%

0

0.00%

0

64,760,520

7.

 

 

Ordinary resolution to re-elect Angela Farrugia as a director of the Company.

64,760,520

100.00%

0

0.00%

0

64,760,520

8.

Ordinary resolution to re-appoint Ernst & Young LLP as the Company's auditors to hold office from the conclusion of this meeting until the conclusion of the next meeting, in accordance with normal practice.

64,760,520

100.00%

0

0.00%

0

64,760,520

9.

Ordinary resolution to authorise the directors to determine the remuneration of the auditors

64,760,520

100.00%

0

0.00%

0

64,760,520

10.

 

 

Ordinary resolution to enable the Company and each of its subsidiaries to make political donations.

50,340,553

91.74%

4,530,758

8.26%

9,889,209

64,760,520

11.

Ordinary resolution to authorise the directors to allot ordinary shares in the Company up to a maximum nominal amount of £235,818 and up to a further

maximum nominal amount of £235,818 where the allotment is in connection with an offer by way of a rights issue.

64,760,520

100.00%

0

0.00%

0

64,760,520

12.

Special resolution to enable the directors to allot, grant options over or otherwise dispose of equity securities for cash or sell treasury shares for cash up to a maximum aggregate nominal amount of £35,372.70 as if pre-emption rights did not apply to such allotment.

54,874,520

100.00%

0

0.00%

9,886,000

64,760,520

13.

Special Resolution to further disapply pre-emption rights in relation to acquisitions or other capital investments.

64,760,520

100.00%

0

0.00%

0

64,760,520

14.

Special resolution to authorise the Company to make market purchases of up to 7,074,539 ordinary shares (which represents approximately 10 per cent of the Company's ordinary shares (excluding treasury shares) in issue on 21 May 2020).

64,760,520

100.00%

0

0.00%

0

64,760,520

 

 

For further information please contact:

 

Inspecs Group plc

Robin Totterman (CEO)

Chris Kay (CFO)

 

via FTI Consulting

Tel: +44 (0) 20 3727 1000

Peel Hunt (Nominated Adviser and Broker)

Adrian Trimmings

Andrew Clark

 

 

Tel: +44 (0) 20 7418 8900

FTI Consulting (Financial PR)

Alex Beagley

James Styles

Fern Duncan

Alice Newlyn

 

 

Tel: +44 (0) 20 3727 1000

About Inspecs Group plc

Inspecs is a designer, manufacturer and distributor of eyewear frames. The Group produces a broad range of frames, covering optical, sunglasses and safety, which are either "Branded" (either under licence or under the Group's own proprietary brands), or "OEM" (including private label on behalf of retail customers and un-branded). As one of only a few companies that can offer this one-stop-shop solution to global retail chains, Inspecs is well positioned to continue to take market share in the globally expanding eyewear market.

 

Inspecs customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 30,000 points of sale. In FY19, the Group generated 24.9 per cent. of its revenue in the UK and 75.1 per cent. internationally.

 

Today Inspecs has operations across the globe: with offices in the UK, Portugal, Scandinavia, the US and China (Hong Kong, Macau and Shenzhen), and manufacturing facilities in Vietnam, China, London and more recently, Italy.

 

The Group's growth strategy going forward is to: (i) continue to grow organically; (ii) undertake further acquisitions (and drive value through leveraging the Group's internal capabilities); and (iii) extend the Group's manufacturing capacity.

 

More information is available at: https://inspecs.com


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