LDG.L

Logistics Development Group Plc
Logistics Dev Grp - Results of General Meeting
4th September 2024, 14:29
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RNS Number : 9378C
Logistics Development Group PLC
04 September 2024
 

4 September 2024

 

Logistics Development Group plc

(or "LDG" or the "Company")

Results of General Meeting

LDG announces that, at a general meeting of the Company's shareholders held earlier today (the "General Meeting"), Resolution 1, as set out in the Notice of General Meeting dated 13 August 2024, was duly passed by shareholders by way of a poll. Resolution 2 was not passed.

As a result of the Waiver Resolution not passing, the Company will not be implementing the Share Buyback as contemplated in the circular to shareholders dated 13 August 2024 (the "Circular").

Full details of the voting at the General Meeting are set out in the table below.

Voting at the General Meeting

The results of the poll are set out below.

No.

Resolution

In favour

Against

Total votes cast as a % of issued share capital

Votes withheld

Votes

%

Votes

%

 

1.

Share Buyback Resolution

176,986,267

80.38

43,191,483

19.62

41.99

56,253,562

2.

Waiver Resolution

15,712,793

13.64

99,484,489

86.36

21.97

167,849,343

 

The full text of the resolutions above are set out in the Notice of General Meeting dated 13 August 2024.

As at 3 September 2024, the Company's issued share capital consisted of 524,350,394 ordinary shares, carrying one vote per share, with no LDG shares held by the Company in treasury. In accordance with LDG's Articles of Association, on a poll every member present in person or by proxy has one vote for every LDG share held.

In accordance with the terms of the Panel Waiver, only Independent Shareholders were entitled to vote on the Waiver Resolution. Therefore, any votes by members of the Concert Party in respect of the Waiver Resolution were not taken into account. Votes withheld are not votes in law and therefore have not been counted in the calculation of the proportion of the votes for and against any resolution. Link Group was appointed as the scrutineer for vote-taking at the General Meeting.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Circular.

For enquiries:

Logistics Development Group plc

Via FTI Consulting

FTI Consulting

Nick Hasell

Alex Le May

+44 (0) 20 3727 1340

Strand Hanson Limited

(Financial and Nominated Adviser)

James Spinney

Richard Johnson

Abigail Wennington

+44 (0) 20 7409 3494

Investec Bank plc

(Broker)

Gary Clarence

Harry Hargreaves

+44 (0) 20 7597 5970

 

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