KINOVO PLC

AGM Information • Sep 15, 2022

National Storage Mechanism | Additional information

RNS Number : 6298Z

Kinovo PLC

15 September 2022

Kinovo plc

Result of Annual General Meeting and Directorate Change

The Annual General Meeting of Kinovo plc was held at the offices of Hudson Sandler, 25 Charterhouse Square, London, EC1M 6AE on 15 September 2022 at 10:00 a.m.

Resolutions 1 to 6 were proposed as ordinary resolutions and resolution 7 was proposed as a special resolution. The results of the poll are outlined in the table below.

Resolution	Votes for	%	Votes against	%	Votes withheld
Resolution 1 (Ordinary) To receive and adopt the Annual Report and Accounts for the financial year ended 31 March 2022.	21,414,922	100	0	0	0
Resolution 2 (Ordinary) To appoint Moore Kingston Smith LLP as auditor of the Company.	21,414,922	100	0	0	0
Resolution 3 (Ordinary) To elect Kim Wright as a Director of the Company.	21,414,722	99.9	150	0.1	0
Resolution 4 (Ordinary) To re-elect David Bullen as a Director of the Company.	21,414,922	100	0	0	0
Resolution 5 (Ordinary) To re-elect Clive Lovett as a Director of the Company.	21,414,922	100	0	0	0
Resolution 6 (Ordinary) To authorise the Directors to allot relevant securities pursuant to section 551 of the Companies Act 2006, as set out in the Notice of the Meeting.	21,414,722	99.9	150	0.1	0
Resolution 7 (Special)  To disapply pre-emption rights.	12,100,458	56.51	9,314,464	43.49	0

The Board acknowledges the failure to pass resolution 7 and intends to take action to understand the reasons behind the result. The Board is disappointed in this outcome given that the resolution follows the provisions of the Pre-emption Group's Statement of Principles for the disapplication of pre-emption rights and reflects UK-listed company market practice.

The Board considers the flexibility afforded by this authority to be in the best interests of the Company and its shareholders and notes that it has received support for this resolution at previous Annual General Meetings. However, the Board remains committed to continuing open and transparent dialogue and will, accordingly, seek to continue to engage with those shareholders regarding their views in this area.

As at 15 September 2022, there were 62,137,757 ordinary shares in issue. Shareholders are entitled to one vote per share. Votes withheld are not votes in law and so have not been included in the calculation of the proportion of votes for and against a resolution.

Directorate Change

At the Annual General Meeting held this morning, Sangita Shah stated her intention to resign from the Board in due course.  She will remain in post to assist the Board find a suitable successor.

For further information:

Kinovo plc
Sangita Shah, Chairman David Bullen, Chief Executive Officer	+44 (0)20 7796 4133 (via Hudson Sandler)
Canaccord Genuity Limited  (Nominated Adviser and Sole Broker)	+44 (0)20 7523 8000
Adam James Andrew Potts Harry Rees
Hudson Sandler  (Financial PR)	+44 (0)20 7796 4133
Dan de Belder Harry Griffiths

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