WTG.AQSE

Watchstone Group Plc
Watchstone Group PLC - Result of AGM
29th May 2024, 09:23
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 2774Q
Watchstone Group PLC
29 May 2024
 

 

Watchstone Group plc

 

("Watchstone" or the "Company")

 

 

RESULT OF ANNUAL GENERAL MEETING

Watchstone Group plc's 2024 AGM was held earlier today, and all resolutions proposed were duly passed as follows:

Resolution

Votes for

%

Votes against

%

Votes total

% of ISC voted

Votes withheld

 

1

24,188,174

99.30%

170,810

0.70%

24,358,984

52.91%

158,235

2

24,327,790

99.44%

137,049

0.56%

24,464,839

53.14%

52,380

3

24,131,042

98.50%

368,562

1.50%

24,499,604

53.21%

17,615

4

24,355,341

99.41%

144,263

0.59%

24,499,604

53.21%

17,615

5

24,505,848

99.96%

10,549

0.04%

24,516,397

53.25%

822

 

The Company also announces that as of the end of the 2024 financial year, Stefan Borson, Chief Executive Officer will cease to be employed full time by the Company and his fixed remuneration will be reduced to nil. From 1 January 2025, he will remain as a Director and receive only variable incentives dependent on any further distributions and recoveries (if any). Richard Rose has also agreed to continue as Non-executive Chairman with a very significantly reduced Director's service fee.

The proposed reduction of the Company's share premium account ("Share Premium Reduction") and a proposed return of cash to Shareholders ("Return of Cash") as approved by resolution 5 remain subject to Court approval.

EXPECTED TIMETABLE OF EVENTS RELATING TO THE RETURN OF CASH

Court Hearing to confirm the Share Premium Reduction

2 July 2024

Record Date relating to the Return of Cash

3 July 2024

Ordinary Shares commence trading ex-entitlement to the Return of Cash

8.00 a.m. on 4 July 2024

Registration of Court Order and Effective Date of the Return of Cash 

4 July 2024

Dispatch of cheques to shareholders or shareholders' CREST accounts credited (as appropriate) in respect of the Return of Cash entitlements

On or around 12 July 2024

 

Notes

These dates are estimates only, being subject to agreement of hearing dates with the Court.  Any changes will be notified to shareholders by an announcement on the Regulatory News Service.

All references to time in this announcement are to London time.

For further information:

Watchstone Group plc

investor.relations@watchstonegroup.com

Tel: 03333 448048

WH Ireland Limited, Financial Adviser and Broker

Antonio Bossi / James Bavister

 Tel: 020 7220 1666

 

 

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
 
 
NEXFIFFAEVIAFIS]]>
TwitterFacebookLinkedIn