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| Date | 12 Jun 2024 |
| Time | 17:56:30 |
| Category | AGMs and other meetings |
| ID | 2195S |
|
FOR RELEASE ON |
12 June 2024 |
IP Group plc - Results of Annual General Meeting
The following amendment has been made to the 'Result of Annual General Meeting' announcement released on 12 June 2024 at 14:39 under RNS No 1922S.
The Board is pleased that Resolution 7 was passed by a significant majority of the shareholders who voted, but notes the votes against this resolution. In the coming months, we will engage with our shareholders to try to understand the reasons behind this vote, and in accordance with the UK Corporate Governance Code, we will publish an update on that engagement within six months of the AGM.
All other details remain unchanged.
The full amended text is shown below.
The Annual General Meeting ("AGM") of IP Group plc was held earlier today. All of the Resolutions proposed at the AGM were passed by the appropriate majority on a poll.
IP Group plc Annual General Meeting Poll Results
|
|
RESOLUTION |
VOTES |
% |
VOTES |
% |
VOTES |
% of ISC VOTED |
VOTES |
|
1 |
To receive the Directors' Report, the Audited Statement of Accounts and Auditor's Report of the Company for the financial year ended 31 December 2023. |
639,543,600 |
99.99% |
56,711 |
0.01% |
639,600,311 |
62.14% |
86,826,847 |
|
2 |
To approve the Directors' Remuneration Report for the year ended 31 December 2023. |
599,931,114 |
82.62% |
126,245,469 |
17.38% |
726,176,583 |
70.55% |
250,575 |
|
3 |
To re-appoint KPMG LLP as auditor of the Company. |
620,540,602 |
96.17% |
24,721,870 |
3.83% |
645,262,472 |
62.69% |
81,164,686 |
|
4 |
To authorise the Directors to fix the remuneration of KPMG LLP as auditor of the Company. |
706,913,382 |
97.32% |
19,496,630 |
2.68% |
726,410,012 |
70.57% |
17,146 |
|
5 |
To re-elect Mr David Baynes as a Director of the Company. |
724,086,322 |
99.71% |
2,100,274 |
0.29% |
726,186,596 |
70.55% |
240,562 |
|
6 |
To re-elect Dr Caroline Brown as a Director of the Company. |
638,190,625 |
98.90% |
7,072,475 |
1.10% |
645,263,100 |
62.69% |
81,164,058 |
|
7 |
To re-elect Mr Heejae Chae as a Director of the Company. |
505,165,832 |
78.29% |
140,073,563 |
21.71% |
645,239,395 |
62.69% |
81,187,763 |
|
8 |
To re-elect Sir Douglas Flint as a Director of the Company. |
631,952,107 |
98.77% |
7,899,949 |
1.23% |
639,852,056 |
62.16% |
86,575,102 |
|
9 |
To re-elect Ms Aedhmar Hynes as a Director of the Company. |
637,489,586 |
98.80% |
7,773,514 |
1.20% |
645,263,100 |
62.69% |
81,164,058 |
|
10 |
To re-elect Ms Anita Kidgell as a Director of the Company. |
609,581,219 |
98.95% |
6,491,184 |
1.05% |
616,072,403 |
59.85% |
110,354,755 |
|
11 |
To re-elect Mr Greg Smith as a Director of the Company. |
724,213,431 |
99.73% |
1,974,088 |
0.27% |
726,187,519 |
70.55% |
239,639 |
|
12 |
To authorise the Directors to exercise all the powers of the Company to allot shares and grant rights to subscribe for or to convert any security into shares in the Company subject to the limits set out in the AGM notice. |
718,924,490 |
98.97% |
7,491,806 |
1.03% |
726,416,296 |
70.57% |
10,862 |
|
13 |
To empower the Directors to allot equity securities for cash, or sell treasury shares, dis-applying statutory pre-emption rights subject to the limits set out in the AGM notice. |
628,975,287 |
86.81% |
95,528,700 |
13.19% |
724,503,987 |
70.39% |
1,923,171 |
|
14 |
In addition to the authority granted under Resolution 13, to empower the Directors to allot equity securities in connection with an acquisition or other capital investment as if section 561(1) of the Companies Act 2006 ("Act") did not apply to any such allotment, subject to the limits set out in the AGM notice. |
610,301,817 |
84.24% |
114,199,377 |
15.76% |
724,501,194 |
70.39% |
1,925,964 |
|
15 |
To authorise the Company and its subsidiaries to incur political expenditure (as defined in section 365 of the Act) not exceeding £50,000 in total. |
704,218,957 |
96.94% |
22,199,270 |
3.06% |
726,418,227 |
70.57% |
8,931 |
|
16 |
To authorise the Company to make market purchases (as defined in section 693(4) of the Act) of the Company's ordinary shares, subject to the limits set out in the AGM notice. |
721,034,126 |
99.28% |
5,248,159 |
0.72% |
726,282,285 |
70.56% |
144,873 |
|
17 |
To enable a general meeting other than an Annual General Meeting to be called on not less than 14 clear days' notice. |
718,259,364 |
98.88% |
8,159,929 |
1.12% |
726,419,293 |
70.57% |
7,865 |
|
18 |
To approve the terms of the new IP Group 2024 Sharesave Plan. |
719,004,534 |
99.02% |
7,106,845 |
0.98% |
726,111,379 |
70.54% |
315,779 |
The Board is pleased that Resolution 7 was passed by a significant majority of the shareholders who voted, but notes the votes against this resolution. In the coming months, we will engage with our shareholders to try to understand the reasons behind this vote, and in accordance with the UK Corporate Governance Code, we will publish an update on that engagement within six months of the AGM.
In accordance with Listing Rule 9.6.1, a copy of the Resolutions has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism.
For more information, please contact:
|
IP Group plc |
|
|
Liz Vaughan-Adams, Communications |
+44 (0) 20 7444 0062/+44 (0) 7979 853802 |
|
Portland |
|
|
Alex Donaldson |
+44 (0) 7516 729702 |
Notes for editors
About IP Group
IP Group accelerates the impact of science for a better future. As the most active UK based, early stage science investor, we develop and support some of the world's most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK's largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach. Together we have a strong track record of success, having backed high-profile companies including Oxford Nanopore Technologies plc, First Light Fusion, Hysata, and Oxbotica. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.
For more information, please visit our website at www.ipgroupplc.com.
ENDS