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Franchise Brands PLC - Result of Annual General Meeting

RNS Number : 1633L
Franchise Brands PLC
28 April 2020
 

28 April 2020

FRANCHISE BRANDS PLC

("Franchise Brands", the "Company" or the "Group")

 

Result of Annual General Meeting

 

Franchise Brands plc (AIM: FRAN), a multi-brand franchise business, is pleased to announce that at the Company's Annual General Meeting held earlier today, all resolutions were duly passed on a poll.

 

Accordingly, the 4,078,389 Second Placing Shares, as defined in the announcement at 12:44 on 21 April 2020, will be issued and are expected to be admitted to trading on AIM on 30 April 2020 ("Admission") to complete the Placing.

 

Further, the scrip dividend as announced on 30 March 2020 will proceed and shareholders have until noon on 26 May 2020 to elect for the scrip dividend instead of the cash dividend.

 

The Group is not providing an AGM Trading Update, as this was provided in the Proposed Placing announcement at 16:38 on 20 April 2020.

 

The proxy votes received from shareholders on each resolution are set out below:

 

 

No. of votes for

%

No. of votes against

%

Total votes cast (excluding votes withheld)

No. of votes withheld

ORDINARY RESOLUTIONS

 

 

 

 

 

 

1.        To receive the 2019 report and financial statements

        60,935,019

100.0%

                 -  

0.0%

  60,935,019

               -  

2.        Declaration of Final Dividend

        60,935,019

100.0%

                 -  

0.0%

  60,935,019

               -  

3.        Offer of scrip dividend

        60,929,424

100.0%

                 -  

0.0%

  60,929,424

        5,595

4.        Re-election Robin Christian Bellhouse

        60,931,019

100.0%

          4,000

0.0%

  60,935,019

               -  

5.        Re-election of Julia Rosalind Choudhary

        60,929,736

100.0%

          4,000

0.0%

  60,933,736

        1,283

6.        Re-election of John Christopher Stewart Dent

        60,931,019

100.0%

          4,000

0.0%

  60,935,019

 

7.        Re-election of Timothy John Harris

        60,931,019

100.0%

          4,000

0.0%

  60,935,019

               -  

8.        Re-election of Stephen Glen Hemsley

        60,927,081

100.0%

          4,000

0.0%

  60,931,081

        3,938

9.        Re-election of Peter John Molloy

        60,931,019

100.0%

          4,000

0.0%

  60,935,019

               -  

10.     Re-election of David John Poutney

        60,528,974

99.9%

        46,045

0.1%

  60,575,019

   360,000

11.     Re-election of Colin David Rees

        60,929,736

100.0%

          4,000

0.0%

  60,933,736

        1,283

12.     Re-election of Nigel William Wray

        60,927,081

100.0%

          7,938

0.0%

  60,935,019

               -  

13.     To reappoint BDO LLP as auditors of the Company

        60,931,019

100.0%

          4,000

0.0%

  60,935,019

               -  

14.     Authority to determine remuneration of auditor

        60,927,081

100.0%

          7,938

0.0%

  60,935,019

               -  

15.     Authority to allot shares

        60,931,019

100.0%

          4,000

0.0%

  60,935,019

               -  

SPECIAL RESOLUTIONS

 

 

 

 

 

 

16.     Disapplication of pre-emption rights

        57,716,874

94.7%

  3,210,785

5.3%

  60,935,019

        7,360

17.     Disapplication of pre-emption rights (for an acquisition or other specified capital investment)

        57,769,115

94.8%

  3,160,309

5.2%

  60,929,424

        5,595

18.     Authority to purchase own shares

        60,933,736

100.0%

          1,283

0.0%

  60,935,019

               -  

 

 

Enquiries:

 

Franchise Brands plc

+ 44 (0) 1625-813231

Stephen Hemsley, Executive Chairman

 

Chris Dent, Chief Financial Officer
Julia Choudhury, Corporate Development Director

 

 

 

Allenby Capital Limited (Nominated Adviser and Joint Broker)

+44 (0) 203 328 5656

Jeremy Porter / Liz Kirchner / Nicholas Chambers

 

 

 

Dowgate Capital Limited (Joint Broker)

+44 (0) 203 903 7715

James Serjeant / Colin Climie

 

 

 

MHP Communications (Financial PR)

+44 (0) 203 128 8100

Katie Hunt

07884-494112

[email protected]

About Franchise Brands plc

 

Franchise Brands is focused on building market-leading businesses in selected customer segments using primarily a franchise model. The Group currently has a combined network of over 450 franchisees across five franchise brands. Our focus is on established brands which can benefit from our shared support services, specialist sector expertise, management experience and group resources.

 

Franchise Brands' portfolio of market-leading service businesses grew in 2019 with the acquisition of Willow Pumps. The addition of Willow Pumps, a direct labour organisation, represented an important step in expanding Metro Rod and Metro Plumb's range of services to the commercial market.

 

The Group is organised into a B2B division comprised of Metro Rod, Metro Plumb and Willow Pumps, and a B2C division incorporates ChipsAway, Ovenclean and Barking Mad. This divisional organisation of our brands is designed to provide a greater focus and structure to support the strategic development of our B2B and B2C brands.

 

Each of our brands are leaders in their respective markets and each brand has a long trading history. The combined trading history of all the Group's brands is over 125 years.

 

Franchise Brands plc employs some 290 people across three principal locations in Macclesfield, Kidderminster and Aylesford.

 

For further information, visit www.franchisebrands.co.uk.

 


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 [email protected] or visit www.rns.com.
 
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Price: 92.5

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Market Cap: £88.54 m
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