INSPECS GROUP PLC — AGM Information 2020

Dec 7, 2020

National Storage Mechanism | Additional information

RNS Number : 7944H

Inspecs Group PLC

07 December 2020

7 December 2020

Inspecs Group plc

("Inspecs" the "Company" or "the Group")

Result of General Meeting

Inspecs Group plc, a designer, manufacturer and distributor of eyewear frames to global retail chains, announces that all resolutions proposed at its General Meeting held earlier today were duly passed. The results of the proxy votes are shown below:

Resolution		For		Against		Withheld	Total votes cast
Number of votes	%	Number of votes	%	Number of votes
1.	Ordinary resolution to authorise the Directors to allot shares in the capital of the Company pursuant to section 551 of the Companies Act 2006 in connection with the Placing	66,442,277	100.00%	2,434	0.00%	1,478	66,444,711
2.	Special resolution to disapply pre-emption rights in relation to the allotment of shares in connection with the Placing	66,441,277	99.99%	3,434	0.01%	1,478	66,444,711
3.	Ordinary resolution to authorise the Directors to allot shares in the capital of the Company pursuant to section 551 of the Companies Act 2006	66,442,277	100.00%	2,434	0.00%	1,478	66,444,711
4.	Special resolution to disapply pre-emption rights in relation to the allotment of shares	66,441,277	99.99%	3,434	0.01%	1,478	66,444,711
5.	Special resolution to disapply pre-emption rights in relation to the allotment of shares for the purposes of an acquisition or capital investment	66,441,277	99.99%	3,434	0.01%	1,478	66,444,711
6.	Special resolution to authorise the Company to make market purchases of its own ordinary shares	66,442,277	100.00%	2,434	0.00%	1,478	66,444,711

The Placing and the Acquisition remain conditional upon, among other things, clearance from the German Federal Ministry for Economic Affairs, which is expected to be received in December 2020, allowing Admission to occur and the Acquisition to complete prior to year-end. The UK antitrust condition has been satisfied. The Company will announce an update to the timetable for Admission and completion of the acquisition in due course.

Unless otherwise stated, capitalised words and expressions in this announcement have the meaning given in the placing announcement made by the Company on 19 November 2020.

For further information please contact:

Inspecs Group plc Robin Totterman (CEO) Chris Kay (CFO)	via FTI Consulting Tel: +44 (0) 20 3727 1000
Peel Hunt (Nominated Adviser and Broker) Adrian Trimmings Andrew Clark Will Bell	Tel: +44 (0) 20 7418 8900
FTI Consulting (Financial PR) Alex Beagley James Styles Fern Duncan Alice Newlyn	Tel: +44 (0) 20 3727 1000

END

About Inspecs Group plc

Inspecs is a Bath-based designer, manufacturer and distributor of eyewear frames and optically advanced spectacle lenses. The Group produces a broad range of frames and lenses, covering optical, sunglasses and safety, which are either "Branded" (either under licence or under the Group's own proprietary brands), or "OEM" (including private label on behalf of retail customers and un-branded). Following the acquisition of lens maker Norville in 2020, Inspecs combined two heritage brands in British optical, Savile Row frame maker, and Norville lens maker, further enhancing its vertically integrated business model. As one of only a few companies that can offer this one-stop-shop solution to global retail chains, Inspecs is well positioned to continue to take market share in the globally expanding eyewear market.

Inspecs customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 30,000 points of sale. In FY19, the Group generated 24.9 per cent. of its revenue in the UK and 75.1 per cent. internationally.

Today Inspecs has operations across the globe: with offices in the UK, Portugal, Scandinavia, the US and China (Hong Kong, Macau and Shenzhen), and manufacturing facilities in Vietnam, China, London and more recently, Italy.

The Group's growth strategy going forward is to: (i) continue to grow organically; (ii) undertake further acquisitions (and drive value through leveraging the Group's internal capabilities); and (iii) extend the Group's manufacturing capacity.

More information is available at: https://inspecs.com

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