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LONDON - Pinewood Technologies Group PLC (LSE:PTG) announced Monday that shareholders approved all resolutions at its Annual General Meeting and subsequent General Meeting.
The company reported that all 17 resolutions at the AGM passed with the required majority, including the receipt of annual accounts, approval of the directors’ remuneration report, and re-election of board members.
Resolution 9, regarding the re-election of Chris Holzshu as a director, passed with 75.65% of votes in favor, below the 80% threshold noted by the board. The company plans to consult with shareholders who voted against this resolution and will publish a statement on the outcome within six months.
At the General Meeting that followed, shareholders approved three additional resolutions, including the Acquisition Waiver Resolution and the Buyback Waiver Resolution, each receiving over 99.7% support.
Following these approvals, the company noted that the Concert Party will hold approximately 32% of the enlarged share capital upon admission. If the company utilizes the maximum amount of the Buyback Authority, the Concert Party’s interest could increase to approximately 35.5% of the issued share capital.
The voting results reflect shareholder decisions on matters including director appointments, auditor reappointment, share allotment authority, and pre-emption rights. RSM UK Audit LLP was reappointed as the company’s auditor with 99.98% of votes in favor.
The information in this article is based on a press release statement issued by Pinewood Technologies Group.
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