Wednesday 11 December
2024
Volution Group
plc
Results of Annual General
Meeting
Volution Group plc ("Volution", the
"Group" or the "Company", LSE: FAN), a leading international
designer and manufacturer of energy efficient indoor air quality
solutions, announces that all resolutions put to the Annual General
Meeting ("AGM") held at 12:00 noon on 11 December 2024 were duly
passed on a poll. The results of the poll, incorporating the proxy
votes lodged in advance of the meeting, are set out in the table
below.
|
Resolution
|
FOR
1
|
|
AGAINST
|
|
WITHHELD 2
|
%
OF TOTAL VOTES IN FAVOUR
|
|
|
Number of votes
|
%
of votes cast
|
Number of votes
|
%
of votes cast
|
Number of votes
|
|
01
|
Annual Report and
Accounts
|
172,027,478
|
100.00
|
378
|
0.00
|
280,026
|
100.00
|
|
02
|
Directors' Remuneration
Report
|
167,296,534
|
97.09
|
5,008,420
|
2.91
|
2,928
|
97.09
|
|
03
|
Final dividend
|
172,306,580
|
100.00
|
378
|
0.00
|
924
|
100.00
|
|
04
|
Re-elect Nigel Lingwood
|
161,763,659
|
93.88
|
10,543,299
|
6.12
|
924
|
93.88
|
|
05
|
Re-elect Ronnie George
|
171,921,688
|
99.78
|
385,270
|
0.22
|
924
|
99.78
|
|
06
|
Re-elect Andy O'Brien
|
171,271,177
|
99.40
|
1,035,240
|
0.60
|
1,465
|
99.40
|
|
07
|
Re-elect Jonathan Davis
|
169,439,032
|
98.34
|
2,867,385
|
1.66
|
1,465
|
98.34
|
|
08
|
Re-elect Amanda Mellor
|
169,752,400
|
98.52
|
2,554,017
|
1.48
|
1,465
|
98.52
|
|
09
|
Re-elect Claire Tiney
|
167,842,568
|
97.41
|
4,464,390
|
2.59
|
924
|
97.41
|
|
10
|
Appoint auditor
|
170,942,097
|
99.21
|
1,363,398
|
0.79
|
2,387
|
99.21
|
|
11
|
Remuneration of auditor
|
172,290,875
|
100.00
|
5,170
|
0.00
|
1,837
|
100.00
|
|
12
|
Authority to make political
donations
|
170,246,500
|
98.83
|
2,018,458
|
1.17
|
32,924
|
98.83
|
|
13
|
Authority to allot shares
|
160,287,892
|
93.02
|
12,019,066
|
6.98
|
924
|
93.02
|
|
143
|
General Authority to disapply
pre-emption rights
|
154,741,367
|
89.81
|
17,557,591
|
10.19
|
8,924
|
89.81
|
|
153
|
Additional Authority to disapply
pre-emption rights
|
135,691,343
|
78.90
|
36,278,408
|
21.10
|
338,131
|
78.90
|
|
163
|
Authority to make market purchase of
own shares
|
170,511,601
|
99.21
|
1,365,071
|
0.79
|
431,210
|
99.21
|
|
173
|
Authority to call a general meeting
on 14 clear days' notice
|
161,718,669
|
93.85
|
10,588,289
|
6.15
|
924
|
93.85
|
The Board notes that
whilst Resolutions 14 and 15 (disapplication of pre-emption
rights) were passed with the requisite majority, for the
purposes of the UK Corporate Governance Code (the "Code") more than
20% of the votes cast were not in favour of Resolution
15.
The Board notes that this resolution
reflects the Pre-Emption Group Guidelines published in 2022 (the
"Guidelines") but acknowledges that shareholders may apply their
own policies in relation to the disapplication of pre-emption
rights which may differ from the Guidelines. In accordance with the
Code, the Board will engage with shareholders to better understand
the reason behind this voting outcome and will provide an update
within six months of the Annual General Meeting.
Notes:
1. Any proxy appointments giving discretion to the Chairman of
the Meeting have been included in the "For" totals
above.
2. A vote "Withheld" is not a vote in law and is not counted in
the calculation of the votes "For" or "Against" a
resolution.
3. Indicates Special Resolutions requiring a 75% majority to be
passed.
4. The Company's total
ordinary shares in issue as at 10 December 2024, was 200,000,000
ordinary shares of 1 pence each, of which 1,965,923 ordinary shares
are held as Treasury Shares. Therefore, the total voting rights are
198,034,077 ordinary shares (ordinary shareholders are entitled to
one vote per ordinary share held).
5. The proxy votes received, amount to 87.01% of the total voting
rights.
6. Percentages are rounded to two decimal places.
Copies of the resolutions passed
(other than those concerning ordinary business) will shortly be
submitted to the National Storage Mechanism and will be available
for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
The Notice of Annual General Meeting
2024 together with the Annual Report and Accounts 2024 can be found
on the Company's website at: www.volutiongroupplc.com
- ends
-
Enquiries:
Volution Group plc
Fiona Smith, Company
Secretary
Legal Entity Identifier:
213800EPT84EQCDHO768
Notes to Editors:
Volution Group plc (LSE: FAN) is a
leading international designer and manufacturer of energy efficient
indoor air quality solutions. Volution Group comprises 29 key
brands across three regions:
UK: Vent-Axia, Manrose, Diffusion,
National Ventilation, Airtech, Breathing Buildings,
Torin-Sifan.
Continental Europe: Fresh, PAX,
VoltAir, Kair, Air Connection, Rtek, inVENTer, Ventilair, ClimaRad,
ERI Corporation, VMI, I-Vent.
Australasia: Simx, Ventair, Manrose,
DVS, Fantech, Ideal Air, NCS Acoustics, Air Design, Major Air,
Systemaire, Burra Steel.
For more information, please go
to: www.volutiongroupplc.com