XP Power Ltd - Result of AGM
25 Aprile 2024 - 1:07PM
UK Regulatory
XP Power Ltd - Result of AGM
PR Newswire
LONDON, United Kingdom, April 25
25 April 2024
XP
Power Limited
("XP
Power" or "the Company")
Result
of Annual General Meeting
The Annual
General Meeting of XP Power Limited was held at 19 Tai Seng Avenue,
#07-01, Singapore 534054 on
25 April 2024, commencing at
5.00 p.m. Singapore time. All resolutions were
unanimously passed by a show of hands.
For
information, the following table shows the total votes cast by
proxy voting on the resolutions that were put to the meeting. The
total number of ordinary shares in issue is 23,681,754 (excluding
shares held in treasury).
Resolution
number
|
Resolution
description
|
In
Favour
|
|
Against
|
|
Withheld
|
|
|
Votes
|
%age
|
|
Votes
|
%age
|
|
Votes
|
1
|
To receive
the reports and audited accounts for the year ended 31 December
2023
|
16,361,368
|
99.99
|
|
28
|
0.01
|
|
25,000
|
2
|
To
re-elect Polly Williams as a Director
|
16,326,368
|
99.63
|
|
60,028
|
0.37
|
|
0
|
3
|
To
re-elect Sandra Breene as a Director
|
16,326,368
|
99.63
|
|
60,028
|
0.37
|
|
0
|
4
|
To
re-elect Amina Hamidi as a Director
|
16,326,368
|
99.63
|
|
60,028
|
0.37
|
|
0
|
5
|
To
re-elect Gavin Griggs as a Director
|
16,326,368
|
99.63
|
|
60,028
|
0.37
|
|
0
|
6
|
To
re-elect Jamie Pike as a Director
|
16,301,270
|
99.48
|
|
85,126
|
0.52
|
|
0
|
7
|
To
re-elect Pauline Lafferty as a Director
|
16,010,806
|
97.71
|
|
375,590
|
2.29
|
|
0
|
8
|
To
re-elect Andy Sng as a Director
|
15,867,780
|
99.62
|
|
60,407
|
0.38
|
|
0
|
9
|
To
re-elect Matt Webb as a Director
|
15,867,780
|
99.62
|
|
60,407
|
0.38
|
|
0
|
10
|
To
reappoint PwC LLP as Auditor of the Company
|
16,280,071
|
99.35
|
|
106,325
|
0.65
|
|
0
|
11
|
To
authorise the Directors to determine the Auditor's
remuneration
|
16,385,939
|
99.99
|
|
457
|
0.01
|
|
0
|
12
|
To receive
and adopt the Directors' Remuneration Report for the year ended 31
December 2023
|
14,903,242
|
90.95
|
|
1,483,154
|
9.05
|
|
0
|
13
|
To approve
the Directors' fees of up to £600,000
|
16,325,089
|
99.63
|
|
61,307
|
0.37
|
|
0
|
14
|
To
authorise the Directors to allot shares up to two thirds of the
Company's issued share capital
|
12,416,574
|
75.89
|
|
3,944,822
|
24.11
|
|
25,000
|
15
|
To
authorise the Directors to allot ordinary shares on a non
pre-emptive basis
|
16,224,579
|
99.01
|
|
161,817
|
0.99
|
|
0
|
16
|
To
authorise the Directors to allot ordinary shares on a non
pre-emptive basis for acquisitions or capital
investments
|
14,293,280
|
87.23
|
|
2,093,116
|
12.77
|
|
0
|
17
|
To
authorise the Company to purchase its own shares
|
16,300,781
|
99.48
|
|
85,565
|
0.52
|
|
50
|
The Board
notes that Resolution 14, the authority for the Directors to allot
shares up to two thirds of the Company's issued share capital, was
passed with 24.11% of votes cast against. The Company intends to
consult with shareholders to understand the reasons behind this
outcome.
An update
on the engagement with shareholders on Resolution 14, and on any
action taken as a result, will be published within six months of
today's AGM, in accordance with the UK Corporate Governance
Code.
Notes:
-
Resolutions
1 to 14 (inclusive) were passed as ordinary resolutions and
resolutions 15 to 17 (inclusive) were passed as special
resolutions. The full text of the resolutions is set out in the
Notice of Annual General Meeting, a copy of which is on the
Company's website https://corporate.xppower.com/investors/general-meetings
and has
also been made available for inspection through the National
Storage Mechanism which can be found at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
-
The total votes cast
amounted to 16,386,396, representing 69.19 per cent of the
Company's issued share capital (excluding shares held in
treasury).
-
Any proxy appointments
which gave discretion to the Chairman have been included in the
"Votes In Favour" total.
-
A "Vote Withheld" is not a
vote in law and is not counted in the calculation of the proportion
for the "Votes In Favour" and "Votes Against" a
resolution.
Enquiries:
XP
Power
|
|
Ruth
Cartwright, Company Secretary
|
+44 (0)118
984 5515
|
|
|
Citigate
Dewe Rogerson
|
|
Kevin
Smith/Lucy Gibbs
|
+44 (0)207
638 9571
|
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