RNS Number : 6786W
Volex PLC
19 August 2022
 

19 August 2022

Volex plc

("Volex" or "the Company")

Results of Annual General Meeting, Issue of Equity

and

Total Voting Rights

 

Volex plc (AIM:VLX), the global supplier of integrated manufacturing services and power products, is pleased to announce the results of its AGM, held earlier today, at which all resolutions were duly passed on a poll.

 

As a consequence, Volex confirms that, further to the announcement made on 29 July 2022 in relation to the Scrip Dividend Scheme and the receipt by the Company of valid elections from certain shareholders, 377,615 new ordinary shares of 25 pence each (the "Scrip Dividend Shares") will be issued in satisfaction of such elections in respect of the final dividend for the year ended 3 April 2022.

 

Application will be made to the London Stock Exchange for the Scrip Dividend Shares to be admitted to AIM, with the admission date expected to be on or around 26 August 2022. On admission, the Scrip Dividend Shares will rank pari passu in all respects with the existing ordinary shares of the Company.

 

The total number of votes received on each resolution put to the AGM is as follows:

 


Resolution

Percentage in Favour*

Votes For

Votes Against

Votes Withheld*

Total votes cast

Percentage of issued share capital voted

1.    

To receive the audited accounts of the Company for the financial year ended 3 April 2022

99.98%

90,941,617

18,628

138,379

91,098,624

57.40

2.    

To approve the Remuneration Committee report

97.00%

88,335,758

2,736,019

26,847

91,098,624

57.40

3.    

To declare a final dividend of 2.4 pence per ordinary share for the financial year ended 3 April 2022

99.99%

91,093,782

3,567

1,275

91,098,624

57.40

4.    

To re-elect Nathaniel Rothschild as a Director

98.87%

83,437,704

950,938

6,709,982

91,098,624

57.40

5.    

To re-elect Jeffrey Jackson as a Director

99.72%

90,831,404

256,266

10,954

91,098,624

57.40

6.    

To re-appoint PricewaterhouseCoopers LLP as auditors of the Company

97.21%

88,541,123

2,544,914

12,587

91,098,624

57.40

7.    

To authorise the Directors to determine the remuneration of the auditors

97.31%

88,585,035

2,449,911

63,678

91,098,624

57.40

8.    

To authorise the Directors to offer the holders of ordinary shares in the Company, to the extent and in the manner determined by the Directors, the right to elect to receive new ordinary shares instead of cash, in respect of all or part of any dividend which may be declared or paid in the period between the date of passing of this Resolution and the conclusion of the Annual General Meeting of the Company to be held in 2025

99.98%

91,016,655

21,806

60,163

91,098,624

57.40

9.    

Subject to the passing of Resolution 8, to authorise the Directors to capitalise the appropriate nominal amounts of new shares of the Company allotted pursuant to the Company's Scrip Dividend Scheme out of the sums standing to the credit of any reserve or account of the Company

99.95%

90,994,316

41,801

62,507

91,098,624

57.40

10.

To authorise the Directors to allot shares in the Company pursuant to section 551 of the Companies Act 2006 (the "2006 Act")

99.83%

90,880,888

157,573

60,163

91,098,624

57.40

11.

To authorise the Directors to allot equity securities under the authority conferred by Resolution 10 as if section 561 of the 2006 Act did not apply

96.54%

88,092,942

3,158,048

62,507

91,313,497

57.53

12.

To further authorise the Directors, in addition to any authority granted under Resolution 11 and only in connection with an acquisition or specified capital investment, to allot equity securities as if section 561 of the 2006 Act did not apply

96.54%

88,090,914

3,158,959

63,624

91,313,497

57.53

13.

To authorise the Company to make purchases of its own shares in accordance with section 701 of the 2006 Act

99.95%

90,924,864

42,823

345,810

91,313,497

57.53

 

 

Total Voting Rights

 

Following the issue of the Scrip Dividend Shares, the Company's total issued share capital will consist of 159,096,324 ordinary shares of 25 pence each with one voting right per share.

 

As the Company does not hold any shares in treasury, the total number of voting rights in the Company is also 159,096,324 and this figure of ordinary shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

Notes

 

*A vote withheld is not treated as a vote in law and is not counted in the calculation of the proportion of the votes cast for or against a resolution.

 

Resolutions 1 to 10 were ordinary resolutions, requiring a simple majority of votes cast to pass, while resolutions 11 to 13 were special resolutions, requiring at least 75% support to pass.

  

The total number of Volex shares in issue at 6.00 p.m. on 17 August 2022, being those eligible to be voted on at the AGM, was 158,718,709.

 

The full text of each of the resolutions is set out in the Notice of AGM, which is available on the Volex website (www.volex.com) on the "Shareholder Information" page in the Investor Relations section.

 

 

For further information please contact:

 

Volex plc

+44 (0)7971 156 431

Nat Rothschild, Executive Chairman


Jon Boaden, Chief Financial Officer


Christian Bedford, Group General Counsel and Company Secretary


Singer Capital Markets (Nominated Adviser & Joint Broker)

+44 (0)20 7496 3000

Shaun Dobson / George Tzimas


HSBC Bank plc - Joint Broker

+44 (0)20 7991 8888

Simon Alexander / Joe Weaving


 

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
 
 
MSCGPUGWRUPPGQB