TIDMWTG

RNS Number : 0748B

Watchstone Group PLC

30 May 2023

Watchstone Group plc

( " Watchstone " or the "Company")

RESULT OF ANNUAL GENERAL MEETING

Watchstone's 2023 AGM was held earlier today. The Company announces all resolutions proposed at the Annual General Meeting, were duly passed as follows:

 
 Resolution    Votes for       %      Votes      %   Votes total     % of       Votes 
                                    against                           ISC    withheld 
                                                                    voted 
     1        24,552,409   99.33    165,663   0.67    24,718,072   53.69%       2,409 
             -----------  ------  ---------  -----  ------------  -------  ---------- 
     2        24,713,769   99.97      6,287   0.03    24,720,056   53.69%         425 
             -----------  ------  ---------  -----  ------------  -------  ---------- 
     3        23,890,568   96.64    829,723   3.36    24,720,291   53.70%         190 
             -----------  ------  ---------  -----  ------------  -------  ---------- 
     4        24,685,161   96.64    829,749   3.36    25,514,910   55.42%         190 
             -----------  ------  ---------  -----  ------------  -------  ---------- 
     5        24,685,161   99.86     34,867   0.14    24,720,028   53.69%         453 
             -----------  ------  ---------  -----  ------------  -------  ---------- 
     6        24,528,279   99.22    192,192   0.78    24,720,471   53.70%          10 
             -----------  ------  ---------  -----  ------------  -------  ----------

Further to the Company's announcement on 24 March 2023, Lord Howard (Senior Non-executive Director) and David Young (Non-executive Director) have now stepped down from Board and will not be replaced.

Richard Rose, Non-executive Chairman said: "It has been a great privilege to work closely with Lord Howard and David Young over these last few years as we have dealt with an extraordinarily complex array of operational, legal, regulatory and accounting matters. Their counsel and commitment have proved invaluable to me and the rest of the Board."

Watchstone can also confirm that following the recent dismissal of its claim against PricewaterhouseCoopers LLP ("PwC"), permission to appeal was rejected by the High Court and the Company will now apply to the Court of Appeal for permission to appeal. As is required by the Court, Watchstone will now proceed to pay the sum of GBP2.25 million on account for PwC's costs pending detailed assessment of full costs.

 
 Watchstone Group plc                                     Tel: 03333 44804 
 
 
   WH Ireland Limited , Financial Adviser               Tel: 020 7220 1666 
   and Broker 
 Chris Hardie 
  James Bavister

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END

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(END) Dow Jones Newswires

May 30, 2023 12:19 ET (16:19 GMT)

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