Maintel shareholders vote on key resolutions at AGM

LONDON - Maintel Holdings Plc announced the results of its Annual General Meeting (AGM) held today, where shareholders voted on a series of resolutions concerning the company’s governance and future operations. The meeting, which took place at the offices of Hudson (NYSE:HUD) Sandler in London, saw 13 resolutions proposed to members through a poll.

According to the results released, resolutions 1 to 10 were successfully passed as ordinary resolutions, with varying degrees of shareholder support. The most notable among these included the re-election of certain directors, the re-appointment of RSM UK Audit LLP as the company’s auditor, and the authorization for directors to allot equity securities pursuant to section 551 of the Companies Act 2006.

However, resolutions 11 and 12, which pertained to the authorization for directors to allot equity securities for cash without adhering to pre-emption rights, did not receive the necessary support to pass as special resolutions. Both resolutions saw a split in votes, with approximately 55% in favor and 45% against, indicating a significant divide among the shareholders on these matters.

The special resolution to authorize the company to purchase its own shares (Resolution 13) was overwhelmingly approved with nearly unanimous support, receiving 99.9% votes in favor.

The board acknowledged the mixed voting outcomes, particularly the significant opposition to the majority of the resolutions, and expressed a commitment to engage with major shareholders to understand their perspectives. The company stated that it would conduct a full consultation with shareholders and would make any necessary public announcements following the outcomes of these discussions.

With 14,361,492 ordinary shares in issue and each shareholder entitled to one vote per share, the AGM’s decisions are pivotal for the company’s direction. Votes withheld were noted but are not considered as votes in law and were not included in the vote calculations.

The company’s statement based on the press release indicates that the full text of each resolution is available on the Maintel Holdings Plc website for those seeking detailed information on the proceedings. Maintel Holdings Plc’s management and board will now proceed with the implementation of the approved resolutions and the consultation process to address shareholder concerns.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.