BRAEMAR PLC

AGM Information • Jul 4, 2019

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RNS Number : 4317E

Braemar Shipping Services PLC

04 July 2019

4 July 2019

BRAEMAR SHIPPING SERVICES PLC

("Braemar", the "Company" or the "Group")

Results of Annual General Meeting

Braemar Shipping Services plc (LSE:BMS), a leading international provider of shipbroking, financial advisory, port and marine consulting services principally to the shipping and energy industries, is pleased to announce that each of the resolutions proposed at its Annual General Meeting (the "AGM"), held yesterday, 3 July 2019, were duly passed by means of a poll vote.

The poll results were as follows:

	Resolution	Votes For	% For	Votes Against	% Against	Total Votes	% of ISC voted	Votes Withheld
1	Receipt of the audited annual accounts and reports	11,353,126	99.99	1,200	0.01	11,354,326	36.12%	36,946
2	Receipt of the directors' remuneration report (other than the remuneration policy)	11,235,071	99.15	96,867	0.85	11,331,938	36.05%	59,334
3	Declare a final dividend	11,354,274	99.97	3,322	0.03	11,357,596	36.13%	33,676
4	Re-election of Ronald Series as a director	11,308,694	99.68	36,199	0.32	11,344,893	36.09%	46,379
5	Re-election of Jürgen Breuer as a director	11,241,343	99.57	49,103	0.43	11,290,446	35.92%	100,826
6	Re-election of Steve Kunzer as a director	11,311,661	99.70	34,116	0.30	11,345,777	36.09%	45,495
7	Re-election of Lesley Watkins as a director	11,304,101	99.65	39,292	0.35	11,343,393	36.08%	47,879
8	Re-election of James Kidwell as a director	8,367,983	74.11	2,923,863	25.89	11,291,846	35.92%	99,426
9	Re-election of Nicholas Stone as a director	11,312,119	99.71	32,367	0.29	11,344,486	36.09%	46,786
10	Re-appointment of BDO LLP as auditors	11,318,674	99.77	26,379	0.23	11,345,053	36.09%	46,219
11	Authority to determine the auditor's remuneration	11,327,966	99.91	10,534	0.09	11,338,500	36.07%	52,772
12	Authority to allot share capital	11,249,571	99.21	90,024	0.79	11,339,595	36.07%	51,677
13	Authority to disapply pre-emption rights*	8,547,597	75.66	2,750,469	24.34	11,298,066	35.94%	93,206
14	Authority of directors to further disapply pre-emption rights*	8,595,784	75.76	2,749,719	24.24	11,345,503	36.09%	45,769
15	Authority to purchase own shares*	11,283,005	99.36	72,231	0.64	11,355,236	36.12%	36,036
16	Authority to call a general meeting (other than the Annual General Meeting) on 14 clear days' notice*	11,331,193	99.82	20,193	0.18	11,351,386	36.11%	39,886

* indicates special resolutions requiring a 75% majority.

In accordance with the 2018 UK Corporate Governance Code, the Board notes that although Resolution 8 (Re-election of James Kidwell as a director) and Resolutions 13 and 14 (authorities to disapply pre-emption rights) passed with the requisite majority, they received 20% or more votes against the Board's recommendation.  The Board appreciates the feedback it has received to date on these matters and will look to continue to engage in a dialogue with the Company's shareholders in the coming months in relation to them.

Please note that a vote withheld is not a vote under English law and is not counted in the calculation of the votes "for" and "against" a resolution.  The total voting rights that members were entitled to exercise at the AGM were 31,436,351.

For further information, contact:

Braemar Shipping Services
James Kidwell, Chief Executive	Tel +44 (0) 20 3142 4100
Nick Stone, Finance Director
Peter Mason, Company Secretary
Shore Capital
Robert Finlay / Antonio Bossi / Henry Willcocks	Tel +44 (0) 20 7601 6100
Buchanan
Charles Ryland / Vicky Hayns / Stephanie Watson	Tel +44 (0) 20 7466 5000

Notes to Editors:

About Braemar Shipping Services plc

Braemar Shipping Services plc is a leading international provider of shipbroking, financial advisory, port and marine consulting services principally to the shipping and energy industries.  Founded in 1972, Braemar employs approximately 530 people in 30 locations worldwide across its Shipbroking, Financial, Logistics and Engineering divisions.  

Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS.

For more information, including our investor presentation, visit www.braemar.com

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