Regulatory News
Result of AGM
20 June 2023
Lords, a leading distributor of building materials in the UK, announces that at its Annual General Meeting (‘AGM’) held at 1.00pm today at the offices of Cenkos Securities at 6 7 8 Tokenhouse Yard, London EC2R 7AS, all 11 resolutions put to members were passed on a poll. Resolutions 1 to 9 were passed as ordinary resolutions and resolutions 10 and 11 were passed as special resolutions.
The results of the poll (including proxy votes) were as follows:
| Resolution | Votes for | % | Votes against | % | Votes withheld |
|---|---|---|---|---|---|
| Resolution 1 (Ordinary) To receive the reports of the Directors and the Financial Statements for the year ended 31 December 2022. | 116,664,000 | 100 | 0 | 0.00 | 0 |
| Resolution 2 (Ordinary) To re-elect Shanker Patel as a Director. | 116,663,580 | 99.99 | 420 | 0.01 | 0 |
| Resolution 3 (Ordinary) To re-elect Christopher Day as a Director. | 116,661,417 | 99.99 | 2,583 | 0.01 | 0 |
| Resolution 4 (Ordinary) To re-elect Gary O’Brien as a Director. | 116,661,417 | 99.99 | 2,583 | 0.01 | 0 |
| Resolution 5 (Ordinary) To re-elect Andrew Harrison as a Director. | 116,661,417 | 99.99 | 2,583 | 0.01 | 0 |
| Resolution 6 (Ordinary) To declare a final dividend for the 12 months ended 31 December 2022 and to ratify the payment of the dividend for the 12 months ended 31 December 2021. | 116,664,000 | 100 | 0 | 0.00 | 0 |
| Resolution 7 (Ordinary) To re-appoint RSM UK Audit LLP as auditor of the Company. | 116,664,000 | 100 | 0 | 0.00 | 0 |
| Resolution 8 (Ordinary) To authorise the Directors to determine the fees payable to the auditor. | 116,664,000 | 100 | 0 | 0.00 | 0 |
| Resolution 9 (Ordinary) To authorise the Directors to allot equity securities. | 109,608,580 | 93.95 | 7,055,420 | 6.05 | 0 |
| Resolution 10 (Special) That, subject to Resolution 9, the Directors be authorised to allot equity securities for cash as if section 561 of the Act did not apply. | 109,608,580 | 93.95 | 7,055,420 | 6.05 | 0 |
| Resolution 11 (Special) That, subject to Resolution 9 and in addition to 10, the Directors be authorised to allot equity securities for cash as if section 561 did not apply. | 109,608,580 | 93.95 | 7,055,420 | 6.05 | 0 |
As at 20 June 2023, there were 165,532,849 ordinary shares in issue. Shareholders are entitled to one vote per share. Votes withheld are not votes in law and so have not been included in the calculation of the proportion of votes for and against a resolution.
FOR FURTHER ENQUIRIES:
| Lords Group Trading plc | Via Buchanan |
|---|---|
| Shanker Patel, Chief Executive Officer | Tel: +44 (0) 20 7466 5000 |
| Chris Day, Chief Financial Officer and Chief Operating Officer | |
| Cenkos Securities plc (Nominated Adviser and Joint Broker) | Tel: +44 (0) 20 7397 8900 |
| Ben Jeynes / Max Gould / Dan Hodkinson (Corporate Finance) | |
| Alex Pollen (Sales) | |
| Berenberg (Joint Broker) Matthew Armitt / Richard Bootle / Detlir Elezi | Tel: +44 (0) 20 3207 7800 |
| Buchanan Communications | Tel: +44 (0) 20 7466 5000 |
| Henry Harrison-Topham / Jamie Hooper/ Abby Gilchrist | [email protected] |
Notes to editors:
Lords is a specialist distributor of building, plumbing, heating and DIY goods. The Group principally sells to local tradesmen, small to medium sized plumbing and heating merchants, construction companies and retails directly to the general public. The Group operates through the following two divisions:
- Merchanting: supplies building materials and DIY goods through its network of merchant businesses and online platform capabilities. It operates both in the 'light side' (building materials and timber) and 'heavy side' (civils and landscaping), through 26 locations in the UK.
- Plumbing and Heating: a specialist distributor in the UK of plumbing and heating products to a UK network of independent merchants, installers and the general public. The division offers its customers an attractive proposition through a multi-channel offering. The division operates over 16 locations enabling nationwide next day delivery service.
Lords was established over 35 years ago as a family business with its first retail unit in Gerrards Cross, Buckinghamshire. Since then, the Group has grown to a business operating from 42 sites. Lords aims to become a £500 million turnover building materials distributor group by 2024 as it grows its national presence.
Lords was admitted to trading on AIM in July 2021 with the ticker LORD.L. For additional information please visit www.lordsgrouptradingplc.co.uk.