Watchstone Group PLC Result of AGM
May 29 2024 - 4:23AM
RNS Regulatory News
RNS Number : 2774Q
Watchstone Group PLC
29 May 2024
Watchstone Group plc
("Watchstone" or
the "Company")
RESULT OF ANNUAL GENERAL MEETING
Watchstone Group plc's 2024 AGM was
held earlier today, and all resolutions
proposed were duly passed as follows:
|
Resolution
|
Votes
for
|
%
|
Votes
against
|
%
|
Votes
total
|
% of ISC
voted
|
Votes
withheld
|
|
1
|
24,188,174
|
99.30%
|
170,810
|
0.70%
|
24,358,984
|
52.91%
|
158,235
|
|
2
|
24,327,790
|
99.44%
|
137,049
|
0.56%
|
24,464,839
|
53.14%
|
52,380
|
|
3
|
24,131,042
|
98.50%
|
368,562
|
1.50%
|
24,499,604
|
53.21%
|
17,615
|
|
4
|
24,355,341
|
99.41%
|
144,263
|
0.59%
|
24,499,604
|
53.21%
|
17,615
|
|
5
|
24,505,848
|
99.96%
|
10,549
|
0.04%
|
24,516,397
|
53.25%
|
822
|
The Company also announces that as
of the end of the 2024 financial year, Stefan Borson, Chief
Executive Officer will cease to be employed full time by the
Company and his fixed remuneration will be reduced to nil. From 1
January 2025, he will remain as a Director and receive only
variable incentives dependent on any further distributions and
recoveries (if any). Richard Rose has also agreed to continue as
Non-executive Chairman with a very significantly reduced Director's
service fee.
The proposed reduction of the
Company's share premium account ("Share Premium Reduction") and a
proposed return of cash to Shareholders ("Return of Cash") as
approved by resolution 5 remain subject to Court
approval.
EXPECTED TIMETABLE OF EVENTS RELATING TO THE RETURN OF
CASH
|
Court Hearing to confirm the
Share Premium Reduction
|
2 July 2024
|
|
Record Date relating to the Return
of Cash
|
3 July 2024
|
|
Ordinary Shares commence trading
ex-entitlement to the Return of Cash
|
8.00
a.m. on 4 July 2024
|
|
Registration of Court Order and
Effective Date of the Return of Cash
|
4 July 2024
|
|
Dispatch of cheques to shareholders
or shareholders' CREST accounts credited (as appropriate) in
respect of the Return of Cash entitlements
|
On or around 12 July
2024
|
Notes
These dates are estimates only,
being subject to agreement of hearing dates with the Court.
Any changes will be notified to shareholders by an announcement on
the Regulatory News Service.
All references to time in this
announcement are to London time.
For further information:
|
Watchstone Group plc
investor.relations@watchstonegroup.com
|
Tel: 03333
448048
|
|
WH
Ireland Limited, Financial Adviser and Broker
Antonio Bossi / James
Bavister
|
Tel:
020 7220 1666
|
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