TIDMHSS
RNS Number : 1218R
HSS Hire Group PLC
25 June 2020
25 June 2020
HSS Hire Group plc
Results of Annual General Meeting ("AGM")
Free float of shares
At the AGM of HSS Hire Group plc held today at 11.00 am at
Hilton Garden Inn Heathrow, Pavilion Centre, Eastern Perimeter
Road, Hatton Cross, Heathrow, TW6 2SQ, all resolutions set out in
the Notice of Meeting were voted on a poll and were passed by the
requisite majorities.
Resolutions 1 to 13 were passed as ordinary resolutions and
resolutions 14 to 18 were passed as special resolutions. The
results of the poll are set out below.
Ordinary resolutions Votes % Votes Votes % Votes Total votes % of Issued Votes
for for against against validly share withheld
(1) (1) cast capital (2)
voted
(1,2,3)
Resolution
1:
Receive annual
report and
accounts 146,814,527 100.00 3,315 0.00 146,817,842 86.26% 1,736
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
2:
Approve remuneration
report 146,804,325 99.99 12,539 0.01 146,816,864 86.26% 2,714
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
3:
Re-election
of Alan Peterson 146,813,521 100.00 4,321 0.00 146,817,842 86.26% 1,736
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
4:
Re-election
of Amanda Burton 146,813,521 100.00 4,321 0.00 146,817,842 86.26% 1,736
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
5:
Re-election
of Douglas
Robertson 146,813,997 100.00 3,845 0.00 146,817,842 86.26% 1,736
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
6:
Re-election
of Thomas Sweet-Escott 146,813,521 100.00 4,321 0.00 146,817,842 86.26% 1,736
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
7:
Re-election
of Steve Ashmore 146,813,997 100.00 3,845 0.00 146,817,842 86.26% 1,736
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
8:
Re-election
of Paul Quested 146,813,997 100.00 3,845 0.00 146,817,842 86.26% 1,736
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
9:
Re-appoint
BDO LLP as
auditors 146,811,562 100.00 6,826 0.00 146,818,388 86.26% 1,190
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
10:
Authorise directors
to agree auditors'
remuneration 146,813,099 100.00 5,289 0.00 146,818,388 86.26% 1,190
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
11:
Renew authority
to allot new
shares 146,809,668 99.99 7,698 0.01 146,817,366 86.26% 2,212
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
12:
Political donations 146,782,594 99.98 35,199 0.02 146,817,793 86.26% 1,785
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
13:
Approve amendments
to directors'
remuneration
policy and
Long Term Incentive
Plan 146,802,910 99.99 11,185 0.01 146,814,095 86.26% 5,483
------------ -------- --------- -------- ------------ ----------- ----------
VOTES OF INDEPENDENT SHAREHOLDERS ON THE RESOLUTIONS CONCERNING
THE
RE-ELECTION OF THE INDEPENDENT NON-EXECUTIVE DIRECTORS
Ordinary resolutions Votes % Votes Votes % Votes Total votes % of Issued Votes
for for against against validly share withheld
(1) (1) cast capital (2)
voted
(1,2,4)
----------- -------- --------- -------- ------------ ----------- ----------
Resolution
4:
Re-election
of Amanda Burton 61,131,813 99.99 4,321 0.01 61,136,134 72.33% 1,736
----------- -------- --------- -------- ------------ ----------- ----------
Resolution
5:
Re-election
of Douglas
Robertson 61,132,289 99.99 3,845 0.01 61,136,134 72.33% 1,736
----------- -------- --------- -------- ------------ ----------- ----------
Special resolutions Votes for % Votes Votes % Votes Total votes % of Issued Votes
for against against validly share withheld
(1) (1) cast capital (2)
voted
(1,2,3)
Resolution
14:
Disapplication
of pre-emption
rights to allotment
of equity securities 146,809,616 99.99 8,058 0.01 146,817,674 86.26% 1,904
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
15:
Disapplication
of pre-emption
rights for
financing or
capital investment 146,812,163 100.00 5,035 0.00 146,817,198 86.26% 2,380
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
16:
Authority to
purchase own
shares 146,812,748 100.00 5,521 0.00 146,818,269 86.26% 1,309
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
17:
Approve adoption
of new articles 146,813,416 100.00 3,831 0.00 146,817,247 86.26% 2,331
------------ -------- --------- -------- ------------ ----------- ----------
Resolution
18:
Notice of general
meetings 146,813,627 100.00 5,237 0.00 146,818,864 86.26% 714
------------ -------- --------- -------- ------------ ----------- ----------
Notes:
1. The percentages above are rounded to two decimal places.
2. A "vote withheld" is not a vote in law and is not counted in
the calculation of the proportion of votes "for" or "against" a
resolution.
3. The number of ordinary shares in issue on 25 June 2020 was
170,207,142. Shareholders are entitled to one vote per share.
4. The number of ordinary shares in issue on 25 June 2020
controlled by Independent Shareholders as defined in the
explanatory notes to the Notice of the Annual General Meeting
circulated on 2 June 2020.
Copies of resolutions 14 to 18, being resolutions other than
resolutions concerning ordinary business passed by the Company at
the above AGM, have been submitted to the National Storage
Mechanism and will shortly be available for inspection at
www.morningstar.co.uk/uk/NSM .
Free float
The continued improvement in the Group's performance is leading
to increased investor interest. However, the Company is cognisant
of the level of the free float of its shares, which currently
stands at c.13.75%.
The Board and its advisors believe that:
(a) the market in the Company's shares operates properly, with a
greater level of liquidity than many companies of its size;
(b) continued progress in the Group's operational performance,
including the demonstration of resilience through the period of
disruption resulting from COVID-19, may lead to increased interest
in the Company's shares from investors, both institutional and
retail, thereby improving the level of free float.
The Company has been in dialogue with the FCA and agreed a
modification of listing rule 9.2.15R, which would otherwise require
a free float of at least 25%, until 20 August 2021. The Board
expects to extend the free float in the Company's shares during
this time; however the Board is also able to consider multiple
other options.
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END
RAGUVUORRRUNUAR
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