4 November 2022
Reach plc
("Reach" or the "Company")
2022 Annual General Meeting - Update Statement
Reach is providing its update in accordance with the requirement of Provision 4 of the UK Corporate Governance Code 2018.
In its 2022 Annual General Meeting ("AGM") results announcement on 5 May 2022, the Company reported that all resolutions were passed. The total votes in favour of resolution 17 concerning the further disapplication of pre-emption rights were 76.71%.
In view of the 23.29% vote against the further disapplication of pre-emption rights, most of the votes against this resolution were received from one major shareholder. The Company has engaged with the shareholder, and the rationale for voting against was due to its governance policies restricting its ability to support this resolution although the Company's authorities are consistent with prevailing UK market practice and both the Investment Association's Share Capital Management Guidelines and the Pre-Emption Group's Statement of Principles.
The Company will continue to engage with any shareholders for whom this authority present concerns and will keep the level of the authority sought under review.
Enquiries:
|
Reach |
|
|
|
Jim Mullen, Chief Executive Officer Simon Fuller, Chief Financial Officer Lorraine Clover, Group Company Secretary |
company.secretary@reachplc.com |
|
|
Tulchan |
|
|
|
David Allchurch /Giles Kernick |
020 7353 4200 reachplc@tulchangroup.com |
|
|
|
|
|
|
|
|
|
|
LEI: 213800GNI5XF3XOATR61 Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State |
|
|
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
