Distil PLC Result of AGM (2515I)

TIDMDIS

RNS Number : 2515I

Distil PLC

03 August 2023

Distil plc

Annual General Meeting

Result of Annual General Meeting

The Annual General Meeting of Distil plc was held at 71-73 Carter Lane, London, EC4V 5EQ on 3 August 2023 at 11:00 a.m.

All Resolutions, as set out in the Notice of Meeting dated 6 July 2023, were voted by way of a poll. All Resolutions, with the exception of Resolutions 5 and 6, were duly passed at the AGM.

The Board notes that resolutions 5 and 6, in respect of authorising the directors to disapply pre-emption rights, were not passed and that a significant proportion (more than 20%) of shareholders voted against resolution 4 in respect of authorising the directors to allot shares. This was notwithstanding all 3 resolutions are consistent with current investor guidelines including the I nvestment Association Share Capital Management Guidelines and Pre-emption Group Guidelines . The Board will continue to engage in discussions with shareholders to better understand their views.

The number of votes cast for and against each of the resolutions proposed, and the number of votes withheld are set out below:

 
  Resolution                        Votes for     %        Votes against   %        Votes withheld 
 Resolution 1 (Ordinary) 
  To receive the annual report      238,436,437   98.81      2,862,204      1.19        34,000 
                                   ------------  -------  --------------  -------  --------------- 
 Resolution 2 (Ordinary) 
  To re-appoint the auditors        241,298,641   100.00         0           0          34,000 
                                   ------------  -------  --------------  -------  --------------- 
 Resolution 3 (Ordinary) 
  To authorise the Directors 
  to determine the fees payable 
  to the auditors                   241,297,914   99.99       34,727        0.01          0 
                                   ------------  -------  --------------  -------  --------------- 
 Resolution 4 (Ordinary) 
  To empower the Directors 
  to allot relevant securities      183,990,296   76.24     57,342,345     23.76          0 
                                   ------------  -------  --------------  -------  --------------- 
 Resolution 5 (Special) 
  That subject to the passing 
  of resolution 4, the Directors 
  be authorised to allot 
  equity securities for cash 
  under the authority conferred 
  by that resolution.               180,990,295   74.996    60,342,345     25.004         1 
                                   ------------  -------  --------------  -------  --------------- 
 Resolution 6 (Special) 
  That, subject to the passing 
  of resolution 4, the Directors 
  be authorised in addition 
  to any authority granted 
  under resolution 5 to allot 
  equity securities for cash 
  under the authority given 
  by that resolution.               180,990,295   74.996    60,342,345     25.004         1 
                                   ------------  -------  --------------  -------  ---------------

As at 3 August 2023, there were 684,399,579 ordinary shares in issue. Shareholders are entitled to one vote per share. Votes withheld are not votes in law and so have not been included in the calculation of the proportion of votes for and against a resolution.

Note: the 'For' votes include those giving the Chairman discretion.

Note : The full text of each resolution is available in the Notice of Annual General Meeting, published on our website.

For further information:

Distil PLC +44 207 352 2096

Don Goulding, Executive Chairman

   SPARK Advisory Partners Limited (NOMAD)                                   +44 20 3368 3550

Neil Baldwin

Mark Brady

   Turner Pope Investments (TPI) Ltd (Broker)                                   +44 203 657 0050

Andy Thacker

James Pope

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August 03, 2023 08:03 ET (12:03 GMT)

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