BRAEMAR PLC

AGM Information • Dec 18, 2023

National Storage Mechanism | Additional information

RNS Number : 1767X

Braemar PLC

18 December 2023

18 December 2023

BRAEMAR PLC

(the "Company")

Results of Annual General Meeting

Braemar Plc (LSE: BMS), a leading provider of expert investment, chartering, and risk management advice to the shipping and energy markets, is pleased to announce that each of the resolutions proposed at its reconvened Annual General Meeting held earlier today were duly passed by means of a poll vote as set out below.

	Resolution	Votes For	% For	Votes Against	% Against	Total Votes	% Votes Withheld
1	To receive the audited annual report and accounts for the year ended 28 February 2023.	12,600,313	99.96	4,592	0.04	12,604,905	38.28
2	To approve the directors' remuneration report for the year ended 28 February 2023.	7,297,536	57.75	5,339,764	42.25	12,637,300	38.38
3	To approve the directors' remuneration policy for the year ended 28 February 2023	7,283,255	57.65	5,350,295	42.35	12,633,550	38.37
4	To approve a final dividend of 8 pence per ordinary share for the year ended 28 February 2023.	12,094,411	99.98	2,748	0.02	12,097,159	36.74

Notes:

1.   Any proxy appointments which give discretion to the Chair have been included in the "for" total.

2.   The total number of shares in issue is 32,924,877.

3.   A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" or "against" a resolution.

Nigel Payne, Chairman said:

"I am delighted that all of the board's recommended resolutions were supported today by our shareholders, notwithstanding recommended votes against by certain unregulated proxy shareholder companies. These organisations increasingly operate in a non-communicative universe that shows no interest in, nor takes account of, the rationale behind a board's carefully and purposefully formulated policies which, when explained, most shareholders who take the time to engage with the Company, readily accept.

The board's policy remains, wherever possible to not take account of shareholder voting that has clearly followed that recommended voting by unregulated proxy shareholders unless there has been direct engagement from the shareholder with the Company".

UK Corporate Governance Code - statement regarding voting result

The board notes that although Resolutions 2 and 3 (directors remuneration report and policy) passed with the requisite majorities, they received more than 20% of votes against the board's recommendation. The board encourages an open and constructive dialogue directly with shareholders and continues to be willing to engage with any shareholder on any relevant topics should they choose to do so.

ENDS 

For further information, contact:

Braemar Plc
James Gundy, Group Chief Executive Officer		Tel +44 (0) 20 3142 4100
Grant Foley, Group Chief Financial Officer
Rebecca-Joy Wekwete, Company Secretary
Buchanan
Charles Ryland / Stephanie Whitmore / Jamie Hooper		Tel +44 (0) 20 7466 5000
Investec Bank plc
Gary Clarence / Harry Hargreaves / Alice King		Tel +44 (0) 20 7597 5970
Cavendish Securities PLC Ben Jeynes / Matt Lewis (Corporate Finance) Leif Powis /Dale Bellis/ Charlie Combe (Sales & ECM)		Tel +44 (0) 20 7220 0500

Notes to Editors:

About Braemar Plc

Braemar provides expert investment, chartering, and risk management advice that enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping and energy. Our experienced brokers work in tandem with specialist professionals to form teams tailored to our customers' needs, and provide 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, visit www.Braemar.com and follow Braemar on LinkedIn.

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