Essentra plc Result of Meeting & Update on Share Buyback (4614T)

TIDMESNT

RNS Number : 4614T

Essentra plc

15 November 2023

Essentra plc (the 'Company' or 'Essentra')

Results of General Meeting

and

Update on the Share Buyback Programme

Results of the General Meeting Merger Reserve Resolutions

Essentra are pleased to announce that at the Company's General Meeting held on 14 November 2023, the two resolutions proposed were duly voted upon by poll and were passed by shareholders. The resolutions allow Essentra to move its merger reserve from non-distributable reserves to distributable reserves, subject to Court sanction, as announced on 20 October 2023.

 
     Resolution        Votes For             Votes Against       Total Votes Cast              Votes 
                        (Including                                (Excluding votes              Withheld 
                        discretionary                             withheld) 
                        votes) 
                       Number        %       Number       %      Number of     % of relevant   Number 
                        of shares             of shares           shares        shares          of shares 
                                                                                in issue 
    ----------------  ------------  ------  -----------  -----  ------------  --------------  ----------- 
     Articles of 
 1    Association      246,008,086   99.97   66,135       0.03   246,074,221   84.95           31,412 
    ----------------  ------------  ------  -----------  -----  ------------  --------------  ----------- 
     Company's 
 2    Merger Reserve   246,007,822   99.97   67,505       0.03   246,075,327   84.96           30,306 
    ----------------  ------------  ------  -----------  -----  ------------  --------------  -----------

The number of ordinary shares of 25 pence each ('Ordinary Shares') in issue at the close of business on 14 November 2023 (excluding 5,039,265 Ordinary Shares in treasury) was 289,653,603.

Any vote that gave the Chair discretion has been included in the 'For' votes. A vote withheld is not a vote in law and is not counted towards the votes cast 'For' or 'Against' a resolution.

Copies of the resolutions passed at the General Meeting will shortly be available for inspection on the National Storage Mechanism document viewing facility at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at www.essentraplc.com .

Update on the Share Buyback Programme

Essentra remains committed to returning a total of GBP60 million to investors through its ongoing share buyback programme (the "Share Buyback Programme"), which was launched on 29 March 2023. To date, Essentra has acquired 12,259,161 Ordinary Shares, of which 4,141,321 Ordinary Shares have been transferred into treasury, and 8,117,840 Ordinary Shares have been cancelled. To date, purchases made pursuant to the Share Buyback Programme total approximately GBP22.2 million.

The Share Buyback Programme was initially expected to conclude before 31 December 2023, however as a result of a disciplined focus on capital allocation requirements, including the acquisition of BMP TAPPI, the Share Buyback Programme is now expected to complete 31 December 2024.

The Share Buyback Programme will continue to be conducted in accordance with the general authority to repurchase Ordinary Shares, previously granted by the Company's shareholders at the 2023 Annual General Meeting (the "2023 Authority") and then subsequently be conducted in accordance with the general authority to be sought at the 2024 Annual General Meeting (the "2024 Authority"). The details of the 2023 Authority can be found on the Company's website at https://www.essentraplc.com/en/investors/shareholder-services/agm . The maximum number of Ordinary Shares that the Company is authorised to purchase under the 2023 Authority is 30,079,081. Upon expiry of the 2023 Authority, the maximum number of shares that the Company shall be authorised to purchase will be such number of Ordinary Shares as stated in the 2024 Authority.

Enquiries

Emma Reid, Company Secretary

T: 01908 359100

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

ROMDBBDBBDBDGXS

(END) Dow Jones Newswires

November 15, 2023 02:00 ET (07:00 GMT)

Essentra (LSE:ESNT)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024