Marlowe PLC Result of General Meeting (1726D)
June 19 2023 - 5:06AM
UK Regulatory
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RNS Number : 1726D
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 4 July 2023
Reduction by the Court
Capital Reduction becomes effective 7 July 2023
------------
For further information:
Marlowe plc
Alex Dacre, Chief Executive www.marloweplc.com
Adam Councell, Chief Financial Tel: +44 (0) 203 813 8498
Officer
Benjamin Tucker, Investor Relations IR@marloweplc.com
Manager
Cenkos Securities plc (Nominated Adviser and Joint Broker)
Ben Jeynes Tel: +44 (0)20 7397 8900
George Lawson
Berenberg (Joint Broker)
Ben Wright Tel: +44 (0)20 3207 7800
Mark Whitmore
Stifel (Joint Broker)
Matthew Blawat Tel: +44 (0)20 7710 7688
Francis North
FTI Consulting
Nick Hasell Tel: +44 (0)20 3727 1340
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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END
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