CHESNARA PLC

AGM Information • May 16, 2018

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RNS Number : 3275O

Chesnara PLC

16 May 2018

Result of the Chesnara Annual General Meeting

LEI Number: 213800VFRMBRTSZ3SJ06

Chesnara plc announces that the resolutions proposed at its Annual General Meeting held on 16 May 2018 were passed by a show of hands. For information, the results of the AGM which includes the total number of votes received for each resolution are set out below. The Company's issued share capital on 16 May 2018 consisted of 149,885,761 ordinary 5p shares and the number of voting rights was 149,808,060 ordinary 5p shares (excluding 77,701 treasury shares).

No.	Resolution	No. of votes 'for' & 'discretionary'	%	Votes 'against'*	%	Total No. of votes cast	Votes 'withheld'
1	To receive and adopt the report and accounts	97,971,587	99.98%	16,000	0.02%	97,987,587	345
2	To approve the Directors' Remuneration Report	96,518,190	98.51%	1,461,107	1.49%	97,979,297	8,635
3	To declare a final dividend	97,991,223	100%	0	-	97,991,223	0
4	To re-elect Mr John Deane	97,983,625	99.99%	1,751	0.01%	97,985,376	2,557
5	To re-elect Mr Rimmington	97,917,680	99.93%	67,696	0.07%	97,985,376	2,557
6	To re-elect Ms Dale	97,983,625	99.99%	1,751	0.01%	97,985,376	2,557
7	To re-elect Mr Mason	93,970,403	95.90%	4,014,972	4.10%	97,985,375	2,557
8	To re-elect Mrs Oak	96,923,391	98.92%	1,061,984	1.08%	97,985,375	2,557
9	To re-elect Mr Brand	97,983,625	99.99%	1,751	0.01%	97,985,376	2,557
10	To re-elect Mr Evans	97,981,461	99.99%	3,915	0.01%	97,985,376	2,557
11	To re-appoint Deloitte LLP as auditor	97,905,082	99.98%	19,570	0.02%	97,924,652	63,280
12	To authorise the directors to determine the auditor's remuneration	97,977,179	99.99%	3,663	0.01%	97,980,842	7,091
13	To authorise political donations	96,219,836	98.20%	1,761,469	1.80%	97,981,305	6,628
14	To authorise the directors to allot securities up to a specified amount	97,869,413	99.89%	108,148	0.11%	97,977,561	10,372
15	Special resolution - to give the directors power to allot securities for cash without making an offer to shareholders (rights issue or open offer)	96,640,597	98.66%	1,315,179	1.34%	97,955,776	32,157
16	Special resolution - to give the directors power to allot securities for cash without making an offer to shareholders (financing or refinancing an acquisition)	96,550,907	98.57%	1,404,868	1.43%	97,955,775	32,157
17	Special resolution - to give the Company limited authority to purchase its own shares	97,850,853	99.89%	112,329	0.11%	97,963,182	24,750
18.	Special resolution - to allow the Company to call general meetings on not less than 14 clear working days' notice	97,010,981	99.01%	967,464	0.99%	97,978,445	9,488

*Votes 'withheld' have not been included in the calculation of whether the resolution is carried. Percentages have been rounded to two decimal places.

The full text of the resolutions can be found in the Notice of the Meeting set out in the Financial Statements for the year ended 31 December 2017, copies of which are available on the Company's website, www.chesnara.co.uk. In accordance with Listing Rule 9.6.3, full details of the resolutions passed as special business will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.Hemscott.com/nsm.do.

Notes to Editors

Chesnara plc ('Chesnara'), which listed on the London Stock Exchange in May 2004, is the owner of Countrywide Assured plc ('CA plc'), Movestic Livförsäkringar AB ('Movestic') and Chesnara Holdings BV. Chesnara Holdings BV is the intermediate holding company of 'Waard Group' and 'Scildon'.

CA plc is a UK life assurance subsidiary that is closed to new business.  In June 2005 Chesnara acquired a further closed life insurance company - City of Westminster Assurance - for £47.8m.  With effect from 30 June 2006, CWA's policies and assets were transferred into CA plc.  Save & Prosper Insurance Limited and its subsidiary, Save & Prosper Pensions Limited, were acquired on 20 December 2010 for £63.5 million.  With effect from 31 December 2011, the business of Save & Prosper was transferred into CA plc.  On 28 November 2013 Chesnara acquired Direct Line Life Insurance Company Limited (subsequently renamed Protection Life Company Limited) from Direct Line Group plc for £39.3m.  On 31 December 2014 the PL business transferred into CA plc.  CA plc operates an outsourced business model.

Movestic, a Swedish life assurance company which originally focused on pensions and savings, was acquired on 23 July 2009 for £20 million.  The company is open to new business and seeks to grow its position in the Swedish unit-linked market.  Its proposition was strengthened in February 2010 with the acquisition of the operations of Aspis Försäkringar Liv AB which has a risk and health product bias.

The Waard Group, a Netherlands-based Group comprising three closed book insurance companies and a servicing company, was acquired on 19 May 2015 for €69.9m.  The Waard Group, comprising Waard Leven N.V., Hollands Welvaren Leven N.V., Waard Schade N.V. and Tadas Verzekeringen B.V. was previously owned by DSB Beheer B.V., a Dutch financial services Group. The policy base of the Waard Group is predominantly term life policies, with some unit linked policies and some non-life policies.  On 5 April 2017 Chesnara completed its acquisition of Legal & General Nederland Levensverzeikering Maatschappij N.V. ('LGN') for €161.2 million. The LGN business which has been renamed Scildon, is in the Dutch life assurance market, and as with our Swedish subsidiary Movestic, Scildon writes protection and pension new business. 

Further details are available on the Company's website (www.chesnara.co.uk).

This information is provided by RNS

The company news service from the London Stock Exchange

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