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LONDON - discoverIE Group plc (LSE:DSCV), a designer and manufacturer of customized electronics for industry, announced Thursday that shareholders approved all resolutions at its Annual General Meeting.
The meeting saw strong shareholder participation with 84.38% of the company’s total issued share capital represented in the voting. While most resolutions passed with overwhelming support, two items related to additional authority to allot shares received lower approval rates of approximately 80%.
Resolution 13, granting additional authority to allot shares, passed with 79.90% support, while Resolution 16, also concerning share allotment authority, received 79.34% approval. Both exceeded the required threshold but fell below the 80% support level typically considered a strong mandate.
The company acknowledged these voting results in its statement, noting that "while pleased that all proposals at the AGM were supported by a significant majority of shareholders, the Board notes that more than 20% of votes were cast against Resolutions 13 and 16."
discoverIE’s board stated it believes these resolutions provide necessary flexibility to pursue its strategy effectively and committed to continued shareholder engagement on governance matters.
Other key resolutions, including the approval of a final dividend and the re-appointment of the company’s auditor, passed with nearly unanimous support. The re-election of all board members was also approved, with support levels ranging from 84.14% for Clive Watson to 99.21% for Simon Gibbins.
The information is based on a company press release statement issued following the meeting.
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