23rd Oct 2019 17:59
(Alliance News) - Private label household products maker McBride PLC on Wednesday said it faced significant opposition from investors in relation to a resolution to allot ordinary shares, although all resolutions put forward were duly approved by shareholders.
The company said 26.06% investors voted against a resolution giving the company's board authority to allot ordinary shares and grant rights to subscribe for, or convert any security into, ordinary shares.
"The board notes that although Resolution 13 was passed with the requisite majority, 26.06% of votes received were against the resolution. The board has been engaging with shareholders and has a good understanding of the concerns raised. A further consultation process will be undertaken and report to shareholders provided in line with the requirements of the UK Corporate Governance Code," the company said in its annual general meeting result statement.
McBride shares in London closed at 69.10 pence each, up 4.2% Wednesday.
By Tapan Panchal; [email protected]
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