REACH PLC

AGM Information • May 7, 2020

National Storage Mechanism | Additional information

RNS Number : 3121M

Reach PLC

07 May 2020

7 May 2020

Reach plc

Results of Annual General Meeting ("AGM")

In accordance with the arrangements announced on 7 April 2020, the AGM of Reach plc (the 'Company') was held today at 10.30 am at Stoke Mill, Woking Road, Guildford GU1 1QA.

All valid proxy votes (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting. Save for resolution 4, which was not put to the meeting, resolutions 1 to 15 and 19 were passed as ordinary resolutions and resolutions 16 to 18 and 20 were passed as special resolutions. The results of the poll are set out below.

		VOTES FOR	%	VOTES AGAINST	%	VOTES CAST	% of ISC VOTED	VOTES WITHHELD
1	Annual Report and Accounts	252,448,687	99.98%	39,042	0.02%	252,487,729	84.37%	5,240,724
2	Remuneration Policy	244,766,337	96.91%	7,808,500	3.09%	252,574,837	84.40%	5,153,616
3	Remuneration Report	218,662,132	99.63%	819,763	0.37%	219,481,895	73.34%	38,246,558
4	Dividend	WITHDRAWN
5	Elect Anne Bulford	257,563,346	99.94%	153,738	0.06%	257,717,084	86.12%	11,370
6	Elect Jim Mullen	251,705,903	97.67%	6,007,063	2.33%	257,712,966	86.11%	15,487
7	Re-elect Simon Fuller	256,931,503	99.73%	704,105	0.27%	257,635,608	86.09%	92,846
8	Re-elect Nick Prettejohn	257,534,335	99.93%	184,148	0.07%	257,718,483	86.12%	9,970
9	Re-elect Steve Hatch	172,992,422	67.13%	84,724,322	32.87%	257,716,744	86.12%	11,710
10	Re-elect David Kelly	249,865,515	96.95%	7,851,796	3.05%	257,717,311	86.12%	11,142
11	Re-elect Helen Stevenson	257,564,186	99.94%	155,256	0.06%	257,719,442	86.12%	9,012
12	Re-elect Olivia Streatfeild	252,394,728	97.93%	5,324,798	2.07%	257,719,526	86.12%	8,927
13	Appoint PricewaterhouseCoopers LLP	257,692,075	99.99%	29,384	0.01%	257,721,459	86.12%	6,995
14	Auditors' remuneration	257,697,642	99.99%	21,763	0.01%	257,719,405	86.12%	9,049
15	Allot shares	257,195,878	99.80%	516,538	0.20%	257,712,416	86.11%	16,038
16	Disapplication of pre-emption rights	257,606,658	99.96%	107,953	0.04%	257,714,611	86.11%	13,843
17	Further disapplication of pre-emption rights	252,430,428	97.95%	5,282,422	2.05%	257,712,850	86.11%	15,603
18	Purchase of own shares	252,464,752	97.98%	5,215,370	2.02%	257,680,122	86.10%	48,331
19	Political donations	220,557,951	85.59%	37,147,757	14.41%	257,705,708	86.11%	22,746
20	Notice for General Meetings	256,058,315	99.36%	1,659,072	0.64%	257,717,387	86.12%	11,067

Notes:

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

2.   The issued share capital figure used to calculate the percentage voted is 299,268,697.  This s the figure as at the close of business on 5 May 2020 and excludes the number of ordinary shares held in treasury at that date.

3.   As announced on 6 April 2020 the Board withdrew its recommendation of the final dividend for the financial year ended 29 December 2019. A confirmatory motion was passed by a simple majority on a show of hands at the Company's AGM earlier today to formally withdraw resolution numbered 4 relating to the approval of the final dividend.

The Board notes that although resolution 9, to re-elect Steve Hatch, was passed with the necessary majority, 32.87% of votes cast were against. The negative vote is understood to be due to Mr. Hatch's record of attendance at board and committee meetings in 2019. The Board regards Mr. Hatch's contribution as invaluable and benefits greatly from his expertise and strategic insight. Mr. Hatch is involved in all key debates and decisions.

The Company will seek to understand shareholders' reasons and concerns as part of its ongoing programme of engagement and will provide an update within 6 months as required by the UK Corporate Governance Code.

In accordance with Listing Rule 9.6.3R of the UK Financial Conduct Authority (FCA), a copy of the resolutions passed as Special Business at the AGM have been submitted to the UK Listing Authority and will be available for public inspection at the National Storage Mechanism (NSM) https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Enquiries
Reach plc
Jim Mullen, Chief Executive Simon Fuller, Chief Financial Officer Lorraine Clover, Group Company Secretary		020 7293 3000
Tulchan Communications
David Allchurch / Giles Kernick		020 7353 4200
LEI: 213800GNI5XF3XOATR61 Classification: 3.1 Additional Information

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