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H C Slingsby PLC announced on May 23, 2025, that at its Annual General Meeting, resolutions 1-5 and 7-9 were passed. Resolution 6, which sought to authorise the Directors to allot equity securities, was not passed with 46.75% of votes for and 53.25% against. Following this outcome, the Directors currently do not have the authority to allot equity securities, while Andrew Kitchingman was elected as a Director and Morgan Morris was re-elected.
| Date | 23 May 2025 |
| Time | 14:02:12 |
| Category | AGMs and other meetings |
| ID | 0349K |
23 May 2025
H C SLINGSBY PLC
("Slingsby" or the "Company" or the "Group")
Result of Annual General Meeting
HC Slingsby PLC (AIM: SLNG), one of the market leaders in the distribution of industrial and commercial equipment, announces that at the Company's Annual General Meeting, held earlier today, resolutions 1 to 5 and 7 to 9 were passed on a poll. Resolution 6 was not passed.
Details of the poll voting on each resolution are set out below:
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|
NO. OF VOTES FOR* |
%** |
NO. OF VOTES AGAINST |
%** |
TOTAL VOTES CAST (EXCLUDING VOTES WITHHELD)** |
NO. OF VOTES WITHHELD** |
|
ORDINARY RESOLUTIONS |
|
|
|
|
|
|
|
1. To receive the Company's annual accounts for the financial year ended 31 December 2024. |
621,481 |
100% |
- |
0.00% |
621,481 |
- |
|
2. To elect as a Director, Andrew Kitchingman. |
567,709 |
63.25% |
329,902 |
36.75% |
897,611 |
- |
|
3. To re-elect as a Director, Morgan Morris. |
897,298 |
99.97% |
313 |
0.03% |
897,611 |
- |
|
4. To reappoint RSM UK Audit LLP as auditors of the Company. |
621,481 |
100.00% |
- |
0.00% |
621,481 |
- |
|
5. To authorise the Directors of the Company to determine the remuneration of the auditors. |
621,481 |
100.00% |
- |
0.00% |
621,481 |
- |
|
6. To authorise the Directors to allot equity securities in the Company. |
289,579 |
46.75% |
329,902 |
53.25% |
619,481 |
2,000 |
|
SPECIAL RESOLUTIONS |
|
|
|
|
|
|
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7. Subject to the passing of resolution 6, to authorise the Directors to allot equity securities in the Company. |
359,534 |
99.91% |
313 |
0.09% |
359,847 |
261,634 |
|
8. Subject to the passing of resolution 6 and 7, to authorise the Directors to allot equity securities in the Company for cash. |
359,534 |
99.91% |
313 |
0.09% |
359,847 |
261,634 |
|
9. To authorise the Company generally and unconditionally to make one or more market purchases. |
619,168 |
99.95% |
313 |
0.05% |
619,481 |
2,000 |
*Votes "For" include votes giving the Chairman discretion.
**A 'Vote Withheld' is not a vote in law and has not been counted in the calculation of the proportion of the votes 'For' and 'Against' a resolution.
Whilst resolution 2 was passed with the necessary majority, the Board notes the voting in relation to this resolution. The Board has considered this and does not believe that any further actions are required to understand the reasons behind this voting result or otherwise.
Following resolution 6 not being passed, the Directors do not currently have the authority to allot ordinary shares in the Company ("Ordinary Shares") for cash or for other purposes, or grant rights to subscribe for or convert any securities into Ordinary Shares. Following the voting on resolution 6, where it is able to, the Board will seek to engage with those shareholders who are understood to have voted against this resolution in order to understand their views and/or any specific concerns.
For further information, please contact:
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H C Slingsby PLC |
Tel: 01274 535 030 |
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Andrew Kitchingman, Non-Executive Chairman |
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Morgan Morris, Group Chief Executive
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Allenby Capital Limited (Nominated adviser and Broker) |
Tel: 020 3328 5656 |
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Alex Brearley / Ashur Joseph (Corporate Finance) Amrit Nahal (Sales and Corporate Broking) |
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