Braemar PLC Results of Annual General Meeting (1767X)

TIDMBMS

RNS Number : 1767X

Braemar PLC

18 December 2023

BRAEMAR PLC

(the "Company")

Results of Annual General Meeting

Braemar Plc (LSE: BMS), a leading provider of expert investment, chartering, and risk management advice to the shipping and energy markets, is pleased to announce that each of the resolutions proposed at its reconvened Annual General Meeting held earlier today were duly passed by means of a poll vote as set out below.

 
     Resolution                          Votes      % For     Votes     % Against     Total       % Votes 
                                           For               Against                   Votes      Withheld 
     To receive the audited annual 
      report and accounts for the 
 1    year ended 28 February 2023.     12,600,313   99.96     4,592       0.04      12,604,905     38.28 
    --------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
     To approve the directors' 
      remuneration report for the 
 2    year ended 28 February 2023.     7,297,536    57.75   5,339,764     42.25     12,637,300     38.38 
    --------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
     To approve the directors' 
      remuneration policy for the 
 3    year ended 28 February 2023      7,283,255    57.65   5,350,295     42.35     12,633,550     38.37 
    --------------------------------  -----------  ------  ----------  ----------  -----------  ---------- 
     To approve a final dividend 
      of 8 pence per ordinary share 
      for the year ended 28 February 
 4    2023.                            12,094,411   99.98     2,748       0.02      12,097,159     36.74 
    --------------------------------  -----------  ------  ----------  ----------  -----------  ----------

Notes:

1. Any proxy appointments which give discretion to the Chair have been included in the "for" total.

   2.   The total number of shares in issue is 32,924,877.

3. 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" a resolution.

Nigel Payne, Chairman said:

"I am delighted that all of the board's recommended resolutions were supported today by our shareholders, notwithstanding recommended votes against by certain unregulated proxy shareholder companies. These organisations increasingly operate in a non-communicative universe that shows no interest in, nor takes account of, the rationale behind a board's carefully and purposefully formulated policies which, when explained, most shareholders who take the time to engage with the Company, readily accept.

The board's policy remains, wherever possible to not take account of shareholder voting that has clearly followed that recommended voting by unregulated proxy shareholders unless there has been direct engagement from the shareholder with the Company".

UK Corporate Governance Code - statement regarding voting result

The board notes that although Resolutions 2 and 3 (directors remuneration report and policy) passed with the requisite majorities, they received more than 20% of votes against the board's recommendation. The board encourages an open and constructive dialogue directly with shareholders and continues to be willing to engage with any shareholder on any relevant topics should they choose to do so.

ENDS

For further information, contact:

 
Braemar Plc 
James Gundy, Group Chief Executive Officer      Tel +44 (0) 20 3142 4100 
Grant Foley, Group Chief Financial Officer 
Rebecca-Joy Wekwete, Company Secretary 
 
Buchanan 
Charles Ryland / Stephanie Whitmore /           Tel +44 (0) 20 7466 5000 
 Jamie Hooper 
 
Investec Bank plc 
Gary Clarence / Harry Hargreaves / Alice        Tel +44 (0) 20 7597 5970 
 King 
 
Cavendish Securities PLC 
 Ben Jeynes / Matt Lewis (Corporate Finance)      Tel +44 (0) 20 7220 0500 
 Leif Powis /Dale Bellis/ Charlie Combe 
 (Sales & ECM)

Notes to Editors:

About Braemar Plc

Braemar provides expert investment, chartering, and risk management advice that enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping and energy. Our experienced brokers work in tandem with specialist professionals to form teams tailored to our customers' needs, and provide 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, visit www.Braemar.com and follow Braemar on LinkedIn .

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END

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December 18, 2023 08:34 ET (13:34 GMT)

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