Aptitude Software Group PLC

AGM Information • Apr 28, 2022

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author: Georgina Sharley
date: 2022-04-28 13:29:00+00:00

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APTITUDE SOFTWARE GROUP PLC (“THE COMPANY”)

RESOLUTIONS PASSED BY SHAREHOLDERS AT THE ANNUAL GENERAL MEETING

OF THE COMPANY HELD ON THURSDAY, 28 APRIL 2022

Ordinary Resolutions

Report and Accounts

1. To receive and to adopt the Company’s Annual Report and Accounts for the year ended 31 December 2021 together with the strategic report and reports of the Directors and auditors.

Remuneration Report

1. To approve Part B of the Directors’ Remuneration Report for the year ended 31 December 2021 as set out in the Company’s Annual Report and Accounts for the year ended 31 December 2021.

Final Dividend

1. To declare a final dividend of 3.6 pence per Ordinary Share of 7 1/3 pence each for the year ended 31 December 2021 to be paid on 3 June 2022 to shareholders whose names appear on the register at the close of business on 13 May 2022.

Re-election of Directors

1. To re-elect Ivan Martin as a Director of the Company.

2. To re-elect Barbara Moorhouse as a Director of the Company.

3. To re-elect Philip Wood as a Director of the Company.

4. To re-elect Jeremy Suddards as a Director of the Company.

5. To elect Sara Dickinson as a Director of the Company.

Auditors

1. To appoint RSM UK Audit LLP as auditors of the Company until the next general meeting at which accounts are to be laid.

2. To authorise the Audit Committee of the Board to agree the auditors’ remuneration.

Allotment of Securities

1. That,

(a) in accordance with section 551 of the Companies Act 2006 (CA 2006), the Directors be generally and unconditionally authorised to allot Relevant Securities (as defined below) up to an aggregate nominal amount of £1,398,288 provided that this authority shall, unless renewed, varied or revoked by the Company, expire at 23:59 on 31 May 2023 or, if earlier, the date of the next annual general meeting of the Company save that the Company may, before such expiry, make offers or agreements which would or might require Relevant Securities to be allotted or rights to subscribe for or convert any Relevant Security into shares to be granted after it expires and the Directors may allot Relevant Securities or grant rights to subscribe for or convert any Relevant Security into shares in pursuance of such offer or agreement notwithstanding that the authority conferred by this Resolution has expired.

and further,

(b) that, in accordance with section 551 of the CA 2006, and in addition to the authority granted pursuant to paragraph (a) of this Resolution, the Directors be generally and unconditionally authorised to allot Relevant Securities in connection with a rights issue in favour of Ordinary shareholders where the equity securities respectively attributable to the interests of all Ordinary shareholders are proportionate (as nearly as may be) to the respective numbers of Ordinary Shares held by them up to an aggregate nominal amount of £1,398,288 but subject to such exclusions or other arrangements as the Directors may deem necessary or expedient in relation to treasury shares, fractional entitlements, record dates, legal or practical problems in or under the laws of any territory or the requirements of any regulatory body or stock exchange, provided that this authority shall, unless renewed, varied or revoked by the Company, expire at 23:59 on 31 May 2023 or, if earlier, the date of the next annual general meeting of the Company, save that the Company may, before such expiry, make offers or agreements which would or might require Relevant Securities to be allotted or rights to subscribe for or convert any Relevant Security into shares to be granted after it expires and the Directors may allot Relevant Securities or grant rights to subscribe for or convert any Relevant Security into shares in pursuance of such offer or agreement notwithstanding that the authority conferred by this Resolution has expired.

In this resolution, “Relevant Securities” means shares in the Company or rights to subscribe for or to convert any security into shares in the Company; a reference to the allotment of Relevant Securities includes the grant of such a right; and a reference to the nominal amount of a Relevant Security which is a right to subscribe for or to convert any security into shares in the Company is to the nominal amount of the shares which may be allotted pursuant to that right.

These authorities are in substitution for all existing authorities under section 551 of the CA 2006 (which to the extent unused at the date of this resolution, are revoked with immediate effect).

Special Resolutions

Disapplication of Pre-Emption Rights

1. That subject to the passing of Resolution 11 and pursuant to sections 570 and 573 of the CA 2006, the Directors be and are authorised to allot equity securities (within the meaning of section 560 of the CA 2006) for cash under the authority conferred by that Resolution and/or to sell Ordinary Shares held by the Company as treasury shares for cash as if section 561 of the CA 2006 did not apply to any such allotment or sale, provided that such authority shall be limited to:

(a) the allotment of equity securities in connection with or pursuant to an offer by way of rights issues, open offer or other pre-emptive offer to the holders of Ordinary Shares in proportion (as nearly as may be practicable) to their respective holdings (but in the case of an allotment pursuant to the authority granted by paragraph (b) of Resolution 11, such power shall be limited to the allotment of equity securities in connection with an offer by way of a rights issue), but subject to such exclusions or other arrangements as the Directors may deem necessary or expedient in relation to treasury shares, fractional entitlements, record dates, legal or practical problems in or under the laws of any territory or the requirements of any regulatory body or stock exchange; and

(b) the allotment of equity securities or sale of treasury shares (otherwise than pursuant to paragraph (a) of this Resolution) to any person up to an aggregate nominal amount of £209,743.

The authority granted by this Resolution will expire at the conclusion of the Company’s next annual general meeting after the passing of this Resolution or, if earlier, at 23:59 on 31 May 2023, save that the Company may, before such expiry make offers or agreements which would or might require equity securities to be allotted (or treasury shares to be sold) after the authority expires and the Directors may allot equity securities (or sell treasury shares) in pursuance of any such offer or agreement as if the authority had not expired.

This Resolution revokes and replaces all unexercised powers previously granted to the Directors pursuant to sections 570 and 573 of the CA 2006 to allot equity securities or sell treasury shares as if section 561 of the CA 2006 did not apply but without prejudice to any allotment of equity securities or sale of treasury shares already made or agreed to be made pursuant to such authorities.

1. That subject to the passing of Resolutions 11 and 12, the Directors be and are generally authorised, in addition to the authority granted pursuant to Resolution 12, to allot equity securities (within the meaning of section 560 of the CA 2006) for cash under the authority conferred by that Resolution and/or to sell Ordinary Shares held by the Company as treasury shares as if section 561 of the CA 2006 did not apply to any such allotment or sale, provided that such authority shall be:

(a) limited to the allotment of equity securities or sale of treasury shares to any person up to an aggregate nominal amount of £209,743; and

(b) used only for the purposes of financing (or refinancing, if the authority is to be used within six months after the original transaction) a transaction which the Board of the Company determines to be an acquisition or another capital investment of a kind contemplated by the Statement of Principles on Disapplying Pre-Emption Rights most recently published by the Pre-Emption Group prior to the date of this notice.

The authority granted by this Resolution will expire at the conclusion of the Company’s next annual general meeting after the passing of this Resolution or, if earlier, at 23:59 on 31 May 2023, save that the Company may, before such expiry make offers or agreements which would or might require equity securities to be allotted (or treasury shares to be sold) after the authority expires and the Directors may allot equity securities (or sell treasury shares) in pursuance of any such offer or agreement as if the authority had not expired.

Purchase of Own Shares

1. That the Company be and is hereby generally and unconditionally authorised pursuant to Section 701 of the CA 2006 to make market purchases (within the meaning of section 693(4) of such Act) of Ordinary Shares of 7 1/3 pence each in the capital of the Company (“Ordinary Shares”) on such terms as the Directors think fit provided that:

(a) the maximum aggregate number of Ordinary Shares hereby authorised to be purchased is limited to 5,720,270 Ordinary Shares;

(b) the minimum price which may be paid for each Ordinary Share is 7 1/3 pence; and

(c) the maximum price (exclusive of expenses) which may be paid for each Ordinary Share is an amount equal to the higher of (i) 105 per cent of the average of the middle market quotations for an Ordinary Share as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the Company agrees to buy the shares concerned; and (ii) the higher of the price of the last independent trade of any Ordinary Share and the highest current independent bid for an Ordinary Share in the trading venue where the purchase is carried out.

The authority conferred by this Resolution 14 shall expire at the conclusion of the next annual general meeting of the Company in 2023 or at 23:59 on 31 May 2023, whichever is earlier (except in relation to the purchase of Ordinary Shares, the contract for which was concluded before such date and which is completed wholly or partly after such date) unless such authority is renewed prior to such time.

Notice Period for Meetings

1. That a general meeting, other than an annual general meeting, may be called on not less than 14 clear days’ notice.