BRAEMAR PLC

AGM Information • Aug 19, 2022

National Storage Mechanism | Additional information

RNS Number : 6431W

Braemar Shipping Services PLC

19 August 2022

19 August 2022

BRAEMAR SHIPPING SERVICES PLC

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

Results of Annual General Meeting

Braemar Shipping Services Plc (LSE: BMS), a leading international Shipbroker and provider of expert advice in shipping investment, chartering and risk management, is pleased to announce that each of the resolutions proposed at its Annual General Meeting (the "AGM") held earlier today 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
4	Re-election of Elizabeth Gooch as a director	10,164,860	89.32	1,214,953	10.68	11,379,813	35.18%	43,428
5	Re-election of James Gundy as a director	10,178,911	89.41	1,205,346	10.59	11,384,257	35.19%	38,984
6	Re-election of Stephen Kunzer as a director	10,172,107	89.25	1,225,286	10.75	11,397,393	35.23%	25,848
7	Re-election of Nigel Payne as a director	10,177,032	89.30	1,219,262	10.70	11,396,294	35.23%	26,947
8	Re-election of Tristram Simmonds as a director	10,196,566	89.56	1,188,728	10.44	11,385,294	35.19%	37,947
9	Re-election of Nicholas Stone as a director	9,876,328	86.74	1,510,065	13.26	11,386,393	35.20%	36,848
10	Re-election of Joanne Lake as a director	8,488,187	74.96	2,835,944	25.04	11,324,131	35.01%	99,110
11	Re-appointment of BDO LLP as auditors	10,144,423	89.10	1,240,516	10.90	11,384,939	35.19%	38,302
12	Authority to determine the auditor's remuneration	8,241,098	74.22	2,861,769	25.78	11,102,867	34.32%	320,374
13	Authority to allot share capital	10,468,797	91.86	928,020	8.14	11,396,817	35.23%	26,424
14	Authority to disapply pre-emption rights*	9,300,183	81.64	2,091,419	18.36	11,391,602	35.21%	31,639
15	Authority to further disapply pre-emption rights*	9,297,280	81.61	2,094,472	18.39	11,391,752	35.21%	31,489
16	Authority to purchase own shares*	10,457,249	91.76	939,481	8.24	11,396,730	35.23%	26,511
17	Authority call a general meeting (other than the Annual General Meeting) on 14 clear days' notice *	10,498,710	92.11	899,317	7.89	11,398,027	35.23%	25,214
19	Changing the Company's name to Braemar Plc*	10,480,390	92.01	910,572	7.99	11,390,962	35.21%	32,279

* indicates special resolutions requiring a 75% majority.

The remaining business of the AGM was adjourned and further resolutions (being resolutions 1 to 3 (inclusive) and resolution 18) will be put to vote at a later date, following the publication of the Full Year Results. Braemar Shipping Services Plc expects the reconvened AGM to be in early October.

In accordance with the 2018 UK Corporate Governance Code, the Board notes that although Resolutions 10 (Re-election of Joanne Lake as Director) and 12 (Authority to determine auditor's remuneration) passed with the requisite majority, it received 20% or more votes against the Board's recommendation.  The Board is working to identify and understand the reasons behind these votes and will look to engage with the Company's shareholders as appropriate in relation to these matters.

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 32,349,904.

Change of company name

As announced on 15 June 2022, the Company has recently launched a new brand identity to support its streamlined strategy and the Board has determined that the name of the Company should be changed to align with this brand identity. Following shareholder approval at the Company's AGM, it is expected that the Company's change of name will become effective with the Registrar of Companies by early September 2022, and the Company will issue a further announcement to confirm when this has taken place.

There will be no change to the Company's Tradable Instrument Display Mnemonic ("BMS") following the change of name. Braemar's shares will continue to be tradeable on the Main Market of the London Stock Exchange. There will also be no change to the Company's website which is www.braemar.com

Shareholdings are unaffected by the name change, and existing share certificates should be retained, as they will remain valid for all purposes. Any new share certificates issued after the change of name becomes legally effective will bear the name Braemar Plc.

For further information, contact:

Braemar Shipping Services Plc
James Gundy, Group Chief Executive Officer	Tel +44 (0) 20 3142 4100
Nick Stone, Group Chief Financial Officer Emma Camilleri, Company Secretary
Investec Bank Plc
Gary Clarence / Harry Hargreaves / Alice King	Tel +44 (0) 20 7597 5970
Cenkos Securities plc Ben Jeynes / Max Gould (Corporate Finance) Alex Pollen / Leif Powis (Sales)	Tel +44 (0) 20 7397 8900
Buchanan
Charles Ryland / Stephanie Whitmore / Jack Devoy / George Cleary	Tel +44 (0) 20 7466 5000

Notes to Editors:

About Braemar

Braemar provides expert advice in shipping investment, chartering, and risk management to enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping.

Braemar's experienced brokers work in tandem with specialist professionals to form teams tailored to its customers' needs, and provides an integrated service supported by a collaborative culture.

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, please visit www.braemar.com and follow Braemar on LinkedIn.

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