TIDMCSN
RNS Number : 3275O
Chesnara PLC
16 May 2018
Result of the Chesnara Annual General Meeting
LEI Number: 213800VFRMBRTSZ3SJ06
Chesnara plc announces that the resolutions proposed at its
Annual General Meeting held on 16 May 2018 were passed by a show of
hands. For information, the results of the AGM which includes the
total number of votes received for each resolution are set out
below. The Company's issued share capital on 16 May 2018 consisted
of 149,885,761 ordinary 5p shares and the number of voting rights
was 149,808,060 ordinary 5p shares (excluding 77,701 treasury
shares).
No. Resolution No. of % Votes % Total Votes
votes 'against'* No. of 'withheld'
'for' votes
& 'discretionary' cast
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
To receive and adopt the report
1 and accounts 97,971,587 99.98% 16,000 0.02% 97,987,587 345
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
To approve the Directors'
Remuneration
2 Report 96,518,190 98.51% 1,461,107 1.49% 97,979,297 8,635
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
3 To declare a final dividend 97,991,223 100% 0 - 97,991,223 0
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
4 To re-elect Mr John Deane 97,983,625 99.99% 1,751 0.01% 97,985,376 2,557
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
5 To re-elect Mr Rimmington 97,917,680 99.93% 67,696 0.07% 97,985,376 2,557
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
6 To re-elect Ms Dale 97,983,625 99.99% 1,751 0.01% 97,985,376 2,557
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
7 To re-elect Mr Mason 93,970,403 95.90% 4,014,972 4.10% 97,985,375 2,557
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
8 To re-elect Mrs Oak 96,923,391 98.92% 1,061,984 1.08% 97,985,375 2,557
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
9 To re-elect Mr Brand 97,983,625 99.99% 1,751 0.01% 97,985,376 2,557
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
10 To re-elect Mr Evans 97,981,461 99.99% 3,915 0.01% 97,985,376 2,557
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
To re-appoint Deloitte LLP as
11 auditor 97,905,082 99.98% 19,570 0.02% 97,924,652 63,280
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
To authorise the directors to
determine
12 the auditor's remuneration 97,977,179 99.99% 3,663 0.01% 97,980,842 7,091
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
13 To authorise political donations 96,219,836 98.20% 1,761,469 1.80% 97,981,305 6,628
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
To authorise the directors to
allot
securities up to a specified
14 amount 97,869,413 99.89% 108,148 0.11% 97,977,561 10,372
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
Special resolution - to give the
directors power to allot
securities
for cash without making an offer
to shareholders (rights issue or
15 open offer) 96,640,597 98.66% 1,315,179 1.34% 97,955,776 32,157
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
Special resolution - to give the
directors power to allot
securities
for cash without making an offer
to shareholders (financing or
refinancing
16 an acquisition) 96,550,907 98.57% 1,404,868 1.43% 97,955,775 32,157
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
Special resolution - to give the
Company limited authority to
purchase
17 its own shares 97,850,853 99.89% 112,329 0.11% 97,963,182 24,750
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
Special resolution - to allow
the
Company to call general meetings
on not less than 14 clear
working
18. days' notice 97,010,981 99.01% 967,464 0.99% 97,978,445 9,488
---- --------------------------------- ------------------- ------- ------------ ------ ----------- ------------
*Votes 'withheld' have not been included in the calculation of
whether the resolution is carried. Percentages have been rounded to
two decimal places.
The full text of the resolutions can be found in the Notice of
the Meeting set out in the Financial Statements for the year ended
31 December 2017, copies of which are available on the Company's
website, www.chesnara.co.uk. In accordance with Listing Rule 9.6.3,
full details of the resolutions passed as special business will be
submitted to the National Storage Mechanism and will shortly be
available for inspection at www.Hemscott.com/nsm.do.
Notes to Editors
Chesnara plc ('Chesnara'), which listed on the London Stock
Exchange in May 2004, is the owner of Countrywide Assured plc ('CA
plc'), Movestic Livförsäkringar AB ('Movestic') and Chesnara
Holdings BV. Chesnara Holdings BV is the intermediate holding
company of 'Waard Group' and 'Scildon'.
CA plc is a UK life assurance subsidiary that is closed to new
business. In June 2005 Chesnara acquired a further closed life
insurance company - City of Westminster Assurance - for GBP47.8m.
With effect from 30 June 2006, CWA's policies and assets were
transferred into CA plc. Save & Prosper Insurance Limited and
its subsidiary, Save & Prosper Pensions Limited, were acquired
on 20 December 2010 for GBP63.5 million. With effect from 31
December 2011, the business of Save & Prosper was transferred
into CA plc. On 28 November 2013 Chesnara acquired Direct Line Life
Insurance Company Limited (subsequently renamed Protection Life
Company Limited) from Direct Line Group plc for GBP39.3m. On 31
December 2014 the PL business transferred into CA plc. CA plc
operates an outsourced business model.
Movestic, a Swedish life assurance company which originally
focused on pensions and savings, was acquired on 23 July 2009 for
GBP20 million. The company is open to new business and seeks to
grow its position in the Swedish unit-linked market. Its
proposition was strengthened in February 2010 with the acquisition
of the operations of Aspis Försäkringar Liv AB which has a risk and
health product bias.
The Waard Group, a Netherlands-based Group comprising three
closed book insurance companies and a servicing company, was
acquired on 19 May 2015 for EUR69.9m. The Waard Group, comprising
Waard Leven N.V., Hollands Welvaren Leven N.V., Waard Schade N.V.
and Tadas Verzekeringen B.V. was previously owned by DSB Beheer
B.V., a Dutch financial services Group. The policy base of the
Waard Group is predominantly term life policies, with some unit
linked policies and some non-life policies. On 5 April 2017
Chesnara completed its acquisition of Legal & General Nederland
Levensverzeikering Maatschappij N.V. ('LGN') for EUR161.2 million.
The LGN business which has been renamed Scildon, is in the Dutch
life assurance market, and as with our Swedish subsidiary Movestic,
Scildon writes protection and pension new business.
Further details are available on the Company's website
(www.chesnara.co.uk).
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMBSGDUUUBBGIL
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