Result of AGM and Trading Statement

RNS Announcement

RNS Number : 8563R

Titon Holdings PLC

10 March 2021

10 March 2021 LEI: 213800ZHXS8G27RM1DD7

Titon Holdings Plc ("Titon" or "the Company")

(Incorporated in England and Wales with Registered Number 01604952)

Result of Annual General Meeting

Trading Statement

Notice of Interim Results

Result of Annual General Meeting

At the Annual General Meeting of the Company held at Titon's Head Office at 894 The Crescent, Colchester Business Park, Colchester, Essex CO4 9YQ earlier today, all resolutions put to the meeting were passed on a show of hands.

Details of the proxy votes received in respect of each of the Resolutions put to the Annual General Meeting are detailed below and have been posted on the Company's web site at www.titonholdings.com

The following is a summary of the Forms of Proxy received up to the time of the Meeting:

	RESOLUTIONS	Votes in favour	Percentage in favour	Votes against	Vote withheld
1	To receive and adopt the reports of the Directors and the Auditors and the audited accounts of the Company for the year ended 30 September 2020.	5,072,078	100.00 %	0	0
2	To declare a final dividend of 2.0 pence per share on the ordinary shares of the Company.	5,072,078	100.00 %	0	0
3	To re-elect Mr John Neil Anderson as a Director of the Company.	5,063,078	99.82 %	0	9,000
4	To re-elect Mr Kevin Sargeant as a Director of the Company.	5,063,078	99.82 %	0	9,000
5	To re-elect Mr Nicholas Charles Howlett as a Director of the Company.	5,063,078	99.82 %	0	9,000
6	To re-elect Mr Bernd Ratzke as a Director of the Company.	4,874,328	96.10 %	188,750	9,000
7	To re-appoint BDO LLP as Auditors of the Company and to authorise the Directors to determine their remuneration.	4,874,328	96.10 %	188,750	9,000
8	To receive and adopt the Directors' Remuneration Report for the year ended 30 September 2020.	5,065,796	99.88 %	0	6,282
9	To give the Directors authority to allot shares.	4,865,046	95.92 %	18,282	188,750
10	To give the Directors power to allot share for cash otherwise than in accordance with statutory pre-emption rights.	4,856,046	95.74 %	27,282	188,750
11	To give the Directors power to make market purchases of the Company's own shares.	5,053,996	99.64 %	18,082	0
12	To adopt the Titon EMI Share Option Plan 2021 and to approve the Rules.	4,877,046	96.15 %	0	195,032
13	To give the Directors power to vote and to be counted in a quorum at any meeting which is connected to the Titon EMI Share Option Plan 2021.	4,874,328	96.10 %	9,000	188,750

Notes:

1 Where shareholders have appointed the Chairman of the meeting as their proxy, with discretion as to voting, those votes have been cast in favour of all resolutions.

2 A 'vote withheld' is not counted when deciding whether or not a resolution is passed.

3 The total number of Ordinary Shares in issue as at 11.00 a.m. on 10 March 2021 was 11,193,750.

Trading Statement

Keith Ritchie, Chairman, commented on current trading:

"After the considerable disruption caused by the pandemic I am pleased to report that trading in the first four months of the current financial period has stabilised. Group revenues are slightly ahead of our budgeted numbers and Group profit currently exceeds the comparable period from last year. We have seen good performances from our UK businesses to date this year, offset by weaker performance than last year in both South Korea and the US as the challenging trading conditions in those markets, which we noted in the preliminary results announcement on 14 January 2021, continue.

We continue to operate with a strong balance sheet. Titon Holdings Plc received a further dividend amounting to £385,000 from our subsidiary, Titon Korea, in January 2021 leaving the Group's cash balances at the end of January 2021 at £5.1m after the payment of c£400,000 in dividends to the minority shareholders in Titon Korea.

We expect to announce our Interim Results on 13 May 2021."

For further information please contact:

Titon Holdings Plc Keith Ritchie, Executive Chairman	Tel: +44 (0)7748 146834
Carolyn Isom, Company Secretary	Tel: +44 (0)7496 237543
Shore Capital (Nominated Adviser and Broker) Edward Mansfield Daniel Bush	Tel: +44 (0)20 7408 4090

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RNS metadata

Title: Result of AGM and Trading Statement
Time: 16:45:05
Date: 10 Mar 2021
Category: Trading updates
ID: 8563R