TIDMABC
RNS Number : 9045D
ABCAM PLC
01 July 2021
For immediate release
1 July 2021
ABCAM PLC
("Abcam" or the "Company")
Result of General Meeting
Abcam plc (AIM: ABC; NASDAQ: ABCM), a global leader in the
supply of life science research tools, announces that all
resolutions put to its General Meeting (the "General Meeting") held
this afternoon were passed.
The Board is pleased that all resolutions have been approved by
shareholders and notes that a minority of shareholders opposed
Resolutions 1 and 2 (to approve a new Remuneration Policy and adopt
a new Profitable Growth Incentive Plan ("PGIP")).
Prior to today's meeting, Abcam's Remuneration Committee
received positive indications of support for the final proposals
following an extensive consultation process. The Committee
recognises that a proportion of shareholders (including those who
follow the guidance of their proxy advisors) were not able to
support the new Remuneration Policy or the new PGIP.
The Remuneration Committee acknowledges concerns raised by
shareholders in their voting but believes it is important to
emphasise that throughout its discussions there was support from
shareholders for the over-arching objectives of the plan to align
long-term incentives with the delivery of the 2024 Strategy, and
the plan itself. There was also broad recognition that, as an
increasingly global business, to sustain its future success Abcam
must be able to effectively compete for and retain talent in a
global marketplace, in particular when competing against US listed
life science and healthcare companies.
The approved PGIP is an important step forward towards aligning
incentives to Abcam's growth plans for over 80 senior leaders in
the business.
Abcam has not applied for any Government funded wage subsidies
or furlough arrangements related to the Covid pandemic. Rather, it
has implemented two company-wide pay increases since March
2020.
The Board remains firmly committed to maintaining an open
dialogue with its shareholders to ensure it fully understands their
views and it will continue to constructively engage with those
shareholders who were unable to support the proposals.
Full details of the poll results are available at
www.abcamplc.com .
For further information, please contact:
+ 44 (0) 1223 696
Abcam 000
Marc Perkins, Company Secretary
James Staveley, Vice President, Investor
Relations
Numis - Nominated Advisor & Joint + 44 (0) 20 7260
Corporate Broker 1000
Garry Levin / Freddie Barnfield /
Duncan Monteith
+ 44 (0) 207 425
Morgan Stanley - Joint Corporate Broker 8000
Tom Perry / Luka Kezic
J.P.Morgan Cazenove - Joint Corporate + 44 (0) 20 7742
Broker 4000
James Mitford / Hemant Kapoor
+ 44 (0) 20 3727
FTI Consulting 1000
Ben Atwell / Natalie Garland-Collins
About Abcam plc
As an innovator in reagents and tools, Abcam's purpose is to
serve life science researchers globally to achieve their mission,
faster. Providing the research and clinical communities with tools
and scientific support, the Company offers highly validated
antibodies and assays to address important targets in critical
biological pathways.
Already a pioneer in data sharing and ecommerce in the life
sciences, Abcam's ambition is to be the most influential company in
life sciences by helping advance global understanding of biology
and causes of disease, which, in turn, will drive new treatments
and improved health.
In the fiscal year ended 30 June 2020, Abcam's worldwide
customer base consisted of approximately 750,000 life science
researchers. By actively listening to and collaborating with these
researchers, the Company continuously advances its portfolio to
address their needs. A transparent programme of customer reviews
and datasheets, combined with an industry-leading validation
initiative, gives researchers increased confidence in their
results.
Founded in 1998 and headquartered in Cambridge, UK, the Company
has served customers in more than 130 countries. Abcam's ordinary
shares were admitted to trading on AIM in 2005 (AIM: ABC) and its
American Depositary Shares began trading on the Nasdaq Global
Market in October 2020 (Nasdaq: ABCM).
Please visit corporate.abcam.com to find out more.
This announcement contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Any express or implied statements contained in this announcement
that are not statements of historical fact may be deemed to be
forward-looking statements, as well as statements that include the
words "expect," "intend," "plan," "believe," "project," "forecast,"
"estimate," "may," "should," "anticipate" and similar statements of
a future or forward-looking nature. Forward-looking statements are
neither promises nor guarantees, but involve known and unknown
risks and uncertainties that could cause actual results to differ
materially from those projected, including, without limitation: a
regional or global health pandemic, including the novel coronavirus
and its related variants ("COVID-19"), which has adversely affected
elements of our business, could severely affect our business,
including due to impacts on our operations and supply chains;
challenges in implementing our strategies for revenue growth in
light of competitive challenges; developing new products and
enhancing existing products, adapting to significant technological
change and responding to the introduction of new products by
competitors to remain competitive; failing to successfully identify
or integrate acquired businesses or assets into our operations or
fully recognize the anticipated benefits of businesses or assets
that we acquire; if our customers discontinue or spend less on
research, development, production or other scientific endeavours;
failing to successfully use, access and maintain information
systems and implement new systems to handle our changing needs;
cyber security risks and any failure to maintain the
confidentiality, integrity and availability of our computer
hardware, software and internet applications and related tools and
functions; failing to successfully manage our current and potential
future growth; any significant interruptions in our operations; if
our products fail to satisfy applicable quality criteria,
specifications and performance standards; failing to maintain our
brand and reputation; our dependence upon management and highly
skilled employees and our ability to attract and retain these
highly skilled employees; and the important factors discussed under
the caption "Risk Factors" in Abcam's prospectus pursuant to Rule
424(b) filed with the U.S. Securities and Exchange Commission
("SEC") on 22 October 2020, which is on file with the SEC and is
available on the SEC website at www.sec.gov, as such factors may be
updated from time to time in Abcam's other filings with the SEC.
Any forward-looking statements contained in this announcement speak
only as of the date hereof and accordingly undue reliance should
not be placed on such statements. Abcam disclaims any obligation or
undertaking to update or revise any forward-looking statements
contained in this announcement, whether as a result of new
information, future events or otherwise, other than to the extent
required by applicable law.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
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.
END
ROMFLFLSDVILIIL
(END) Dow Jones Newswires
July 01, 2021 11:03 ET (15:03 GMT)
Abcam (LSE:ABC)
Historical Stock Chart
From Apr 2024 to May 2024
Abcam (LSE:ABC)
Historical Stock Chart
From May 2023 to May 2024