Synthomer PLC Result of General Meeting (3148M)
11 January 2023 - 10:30PM
UK Regulatory
TIDMSYNT
RNS Number : 3148M
Synthomer PLC
11 January 2023
LEI: 213800EHT3TI1KPQQJ56
11 January 2023
Synthomer plc
Result of General Meeting
Synthomer plc ("Synthomer" or the "Company") announces that the
resolution to approve the sale of the Company's Laminates, Films
and Coated Fabrics Businesses, (the "Sale") was duly passed
unconditionally at its General Meeting (the "Meeting") held earlier
today.
A further announcement will be made upon completion of the Sale
which is expected to occur in Q1 2023.
Michael Willome, Chief Executive, said:
"This divestment is consistent with the new strategy we
announced in October 2022 to increase the specialty weighting of
our portfolio and focus on higher value, higher growth markets
where we have strong and sustainable leadership positions. The
proceeds represent excellent value for our shareholders and will
help to significantly deleverage the Group."
Details of the proxy voting instructions, lodged prior to the
Meeting, are set out below:
For + discretion Against Votes
Withheld
------------------------
Resolution Votes % Votes % Votes
Number and Votes Votes
Description Cast Cast
-------------- -------- --------- ------- ----------
Resolution: To approve
the
Sale 385,120,768 99.98 64,632 0.02 130,103
-------------- -------- --------- ------- ----------
An abstention is not a vote in law and is not counted in the
calculation of proportion of votes 'For' or 'Against' a
resolution.
Number of shareholders -2,300
Issued share capital at 6 p.m. -467,336,041 ordinary shares
on 15 December 2021 of 10 pence each
Number of votes per share -One
Number of proxies lodged -356
The full text of the Resolution is set out in the Notice of the
Meeting included in the Circular to shareholders dated 16 December
2022.
In compliance with paragraph 9.6.2R of the Listing Rules, the
Resolution passed at the Meeting has been submitted for filing at
the National Storage Mechanism and is available for inspection on
their website at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Enquiries:
Synthomer plc
Tim Hughes
+ 44 7764 859147
Teneo (Financial Public Relations Adviser)
Charlie Armitstead
+44 7703 330269
This announcement contains "forward-looking statements" which
includes all statements other than statements of historical fact,
including, without limitation, those regarding the Company's
financial position, business strategy, plans and objectives of
management for future operations, or any statements preceded by,
followed by or that include the words "targets", "believes",
"expects", "aims", "intends", "will", "may", "anticipates", "would,
"could" or similar expressions or negatives thereof. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond the Company's
control that could cause the actual results, performance or
achievements of the Company to be materially different from future
results, performance or achievements expressed or implied by such
forward-looking statements. Such forward-looking statements are
based on numerous assumptions regarding the Company's present and
future business strategies and the environment in which the Company
will operate in the future. These forward-looking statements speak
only as at the date of this announcement. The Company neither
undertakes nor is under any duty to update this announcement or to
correct any inaccuracies in any such information which may become
apparent or to provide you with any additional information, other
than any requirements that the Company may have under applicable
law or the Listing Rules, the Prospectus Rules, the Disclosure
Guidance and Transparency Rules or MAR.
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END
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January 11, 2023 06:30 ET (11:30 GMT)
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