CHESNARA PLC

AGM Information • May 14, 2019

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 0056Z

Chesnara PLC

14 May 2019

Result of the Chesnara plc 2019 Annual General Meeting

LEI Number: 213800VFRMBRTSZ3SJ06

Chesnara plc announces that the resolutions proposed at its Annual General Meeting held on 14 May 2019 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 14 May 2019 consisted of 149,908,956 ordinary 5p shares and the number of voting rights was also 149,908,956 ordinary 5p shares (as there were no 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	97,725,686	99.99	12,254	0.01	97,737,940	24,615
2	To approve the Directors' Remuneration Report	97,012,184	99.23	749,940	0.77	97,762,124	432
3	To declare a final dividend	97,762,556	100.00	0	0.00	97,762,556	0
4	To re-elect Mr John Deane	97,747,897	99.99	5,247	0.01	97,753,144	9,412
5	To re-elect Mr Rimmington	97,673,947	99.92	78,297	0.08	97,752,244	10,212
6	To re-elect Ms Dale	97,749,638	99.99	3,506	0.01	97,753,144	9,412
7	To re-elect Mr Mason	93,380,628	95.53	4,372,515	4.47	97,753,143	9,412
8	To re-elect Mrs Oak	97,023,368	99.25	729,776	0.75	97,753,144	9,412
9	To re-elect Mr Brand	97,748,092	99.99	4,252	0.01	97,752,344	10,212
10	To elect Mr Hesketh	97,743,168	99.99	8,385	0.01	97,751,553	11,003
11	To re-appoint Deloitte LLP as auditor	97,725,379	99.96	36,431	0.04	97,761,810	746
12	To authorise the directors to determine the auditor's remuneration	97,755,272	99.99	6,209	0.01	97,761,481	1,075
13	To authorise political donations	95,523,906	97.72	2,230,754	2.28	97,754,660	7,896
14	To authorise the directors to allot securities up to a specified amount	97,665,943	99.90	95,822	0.10	97,761,765	791
15	Special resolution - to give the directors power to allot securities for cash without making an offer to shareholders (rights issue or open offer)	96,463,545	98.67	1,298,220	1.33	97,761,765	791
16	Special resolution - to give the directors power to allot securities for cash without making an offer to shareholders (financing or refinancing an acquisition)	96,442,393	98.66	1,312,632	1.34	97,755,025	7,531
17	Special resolution - to give the Company limited authority to purchase its own shares	97,724,547	99.96	38,009	0.04	97,762,556	0
18.	Special resolution - to allow the Company to call general meetings on not less than 14 clear working days' notice	96,810,288	99.03	952,130	0.97	97,762,418	138

*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 2018, 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 two closed book insurance companies (life and income protection) and a servicing company, was acquired on 19 May 2015 for €69.9m from DSB Beheer B.V., a Dutch financial services Group.  The group comprises Waard Leven N.V., Waard Schade N.V. and Waard Verzekeringen B.V.  The portfolio of the Waard Group is predominantly term life policies with some unit linked and income protection policies.  On 5 April 2017 Chesnara completed its acquisition of Legal & General Nederland Levensverzekering Maatschappij N.V. ('LGN') for €161.2 million. The business was renamed Scildon, is in the Dutch life assurance market and, as with our Swedish subsidiary Movestic, it 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

RAGXZLFFKEFXBBX