McColl's Retail Group plc Disclosure under Code provision E.2.2 (3996E)
October 18 2018 - 3:00AM
UK Regulatory
TIDMMCLS
RNS Number : 3996E
McColl's Retail Group plc
18 October 2018
18 October 2018
Disclosure under Provision E.2.2 of the UK Corporate Governance
Code
At the Company's 2018 Annual General Meeting (AGM), 20.23% of
the votes cast on Resolution 17 (disapplication of pre-emption
rights in relation to an acquisition or capital investment) were
cast against. As indicated in an announcement at the time of the
AGM, the Board has contacted all major shareholders who voted
against this resolution to seek an understanding of their reasons
for doing so. The feedback received indicated that for some
investors, as a matter of principle, they consider that
transactions of the magnitude requiring funding from a share issue
greater than is possible under the general 5% disapplication of
pre-emption rights (which was approved) should be the subject of
shareholder consultation and approval on a case-by-case basis. The
Board have considered this feedback and confirm that Directors are
committed to undertaking shareholder consultations on significant
share issues whenever it is practicable to do so. The Board will
consider this matter further when deciding on the resolutions to be
proposed for approval at the 2019 AGM and will provide a statement
on this matter at the time.
McColl's Retail Group plc
Bernadette Young, Company
Secretary
+44 (0)1277 372 916
McColls Retail Group plc
Ashwells Road
Brentwood
Essex
CM15 9ST
About McColl's Retail Group
McColl's is a leading neighbourhood retailer, with an estate of
around 1,600 managed convenience stores and newsagents. We operate
McColl's branded convenience stores as well as newsagents branded
Martin's across the UK, except in Scotland where we operate under
our heritage brand, RS McColl. Our dedicated colleagues serve over
five million customers every week, and we are the largest operator
of Post Offices in the UK, with c.600 in-store
counters/branches.
LEI: 213800R1TLR536P8YJ67
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.
END
MSCBLBDGCBBBGIR
(END) Dow Jones Newswires
October 18, 2018 04:00 ET (08:00 GMT)
Mccoll's Retail (LSE:MCLS)
Historical Stock Chart
From Apr 2024 to May 2024
Mccoll's Retail (LSE:MCLS)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Mccoll's Retail Group Plc (London Stock Exchange): 0 recent articles
More Mccolls News Articles