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discoverIE Group plc announced that all resolutions were approved at its Annual General Meeting held on 24 July 2025. A total of 81,304,378 votes were cast, representing 84.38% of the Company's 96,356,109 ordinary shares in issue. Resolutions 13 and 16, regarding additional authority to allot shares, passed with 79.90% and 79.34% of votes for, respectively.
| Date | 24 Jul 2025 |
| Time | 14:37:48 |
| Category | AGMs and other meetings |
| ID | 4829S |
24 July 2025
discoverIE Group plc
Results of Annual General Meeting
discoverIE Group plc (LSE: DSCV, "discoverIE" or "the Group"), a leading international designer and manufacturer of customised electronics to industry, announces that, at the Annual General Meeting held earlier today, all resolutions were approved. The results of the poll, incorporating proxy votes duly lodged prior to the meeting, are set out below:
|
|
Resolution |
Votes For |
Votes Against |
Withheld* |
||
|
1 |
Receipt and Adoption of Financial Statements |
81,009,072 |
99.99% |
5,255 |
0.01% |
290,051 |
|
2 |
Approval of Final Dividend |
81,301,001 |
100.00% |
1,336 |
0.00% |
2,041 |
|
3 |
Approval of Directors' Remuneration Report |
80,640,797 |
99.19% |
658,278 |
0.81% |
5,303 |
|
4 |
Re-election of Bruce Thompson |
74,658,137 |
91.83% |
6,641,506 |
8.17% |
4,735 |
|
5 |
Re-election of Nick Jefferies |
77,881,572 |
95.80% |
3,413,071 |
4.20% |
9,735 |
|
6 |
Re-election of Simon Gibbins |
80,653,147 |
99.21% |
641,496 |
0.79% |
9,735 |
|
7 |
Re-election of Clive Watson |
68,408,369 |
84.14% |
12,891,274 |
15.86% |
4,735 |
|
8 |
Re-election of Rosalind Kainyah |
79,234,604 |
97.75% |
1,822,039 |
2.25% |
247,735 |
|
9 |
Re-election of Celia Baxter |
79,241,539 |
97.47% |
2,058,104 |
2.53% |
4,735 |
|
10 |
Re-appointment of Auditor |
81,291,960 |
99.99% |
7,998 |
0.01% |
4,420 |
|
11 |
Authority to fix Auditor's Remuneration |
81,293,125 |
99.99% |
7,148 |
0.01% |
4,105 |
|
12 |
Authority to Allot Shares |
65,549,784 |
80.63% |
15,751,968 |
19.37% |
2,626 |
|
13 |
Additional Authority to Allot Shares |
64,961,604 |
79.90% |
16,340,463 |
20.10% |
2,311 |
|
14 |
Authority to Disapply Statutory Pre-Emption Rights |
76,128,761 |
93.64% |
5,172,991 |
6.36% |
2,626 |
|
15 |
Additional Authority to Disapply Statutory Pre-Emption Rights (acquisition or specified capital investment) |
68,638,442 |
84.69% |
12,408,173 |
15.31% |
257,763 |
|
16 |
Additional Authority to Allot Shares |
64,504,960 |
79.34% |
16,796,792 |
20.66% |
2,626 |
|
17 |
Authority to Purchase Company's Own Shares |
81,006,778 |
100.00% |
3,836 |
0.00% |
293,764 |
|
18 |
Notice of General Meetings |
74,442,616 |
91.56% |
6,859,446 |
8.44% |
2,316 |
|
19 |
To authorise political donations |
79,940,662 |
98.67% |
1,078,038 |
1.33% |
285,678 |
* A 'vote withheld' in respect of any resolution is not a vote in law and is not counted in the calculation of the proportion of the votes for and against it.
The total number of votes cast was 81,304,378, representing 84.38% of the Company's total issued share capital. As at today's date, discoverIE Group plc has 96,356,109 ordinary shares in issue.
A copy of the resolutions approved by Shareholders will be placed on the National Storage Mechanism.
Statement regarding voting result
While pleased that all proposals at the AGM were supported by a significant majority of shareholders, the Board notes that more than 20% of votes were cast against Resolutions 13 and 16 (additional authority to allot shares and disapplication of statutory pre-emption rights in connection with a pre-emptive offer), each of which were passed with 79.9% and 79.3% support, respectively. The Board believes that these resolutions are in the best interests of the Company and provide it with the necessary flexibility to be able to pursue its strategy effectively. The Board has actively engaged with shareholders over the course of the last year and will continue to do so, to remain cognisant of their views for future governance decisions.
For further information, please contact:
discoverIE Group plc
Greg Davidson - Company Secretary 01483 544 500
Buchanan
Chris Lane, Toto Berger, Jack Devoy 020 7466 5000
Notes to Editors:
discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial applications.
The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally through its two divisions, Magnetics & Controls, and Sensing & Connectivity. By designing components that meet customers' unique requirements, which are then manufactured and supplied throughout the life of their production, a high level of repeating revenue is generated with long-term, high quality customer relationships.
With a focus on key markets driven by structural growth, increasing electronic content and sustainability, namely medical, electrification of transportation, renewable energy, security and industrial automation & connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with complementary acquisitions. The Group is committed to reducing the impact of its operations on the environment in order to reach net zero. With its key markets aligned with a sustainable future, the Group has been awarded an ESG "A" rating by MSCI and is Regional (Europe) Top Rated and Industry (Technology Hardware) Top Rated by Sustainalytics.
The Group employs c.4,500 people across 20 countries with its principal operating units located in Continental Europe, the UK, China, Sri Lanka, India and North America.
discoverIE is listed on the Main Market of the London Stock Exchange and is a member of the FTSE 250, classified within the Electrical Components and Equipment subsector.