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AGM Statement and trading update

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·4-min read
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Mothercare plc Annual General Meeting 9 September 2021: Results

At the annual general meeting held at 11.00am on 9 September 2021, the resolutions before the meeting were passed.

The following proxy votes had been received by the Company in respect of the resolutions:

Resolution

Votes For

%

Votes Against

%



Votes total

% ISC

Votes withheld*

1

To receive the annual accounts, directors’ report, strategic report, directors’ remuneration report and auditor’s report

203,869,412

99.95

93,551

0.05

203,962,963

36.17

56,943,094

2

To approve the directors’ remuneration report

260,708,127

99.93

187,854

0.07

260,895,981

46.27

10,076

3

To re-elect Clive Whiley as a director

260,759,725

99.95

138,544

0.05

260,898,269

46.27

7,788

4

To re-elect Andrew Cook as a director

260,763,811

99.95

136,820

0.05

260,900,631

46.27

5,426

5

To re-elect Gillian Kent as a director

260,770,556

99.95

133,261

0.05

260,903,817

46.27

2,240

6

To re-elect Mark Newton-Jones as a director

260,750,617

99.94

151,700

0.06

260,902,317

46.27

3,740

7

To elect Brian Small as a director

260,759,837

99.95

142,360

0.05

260,902,197

46.27

3,860

8

Re-appoint auditors

260,834,415

99.97

66,964

0.03

260,901,379

46.27

4,678

9

Auditors remuneration

260,858,104

99.98

43,787

0.02

260,901,891

46.27

4,166

10

Authority for the directors to allot shares

260,568,545

99.87

333,071

0.13

260,901,616

46.27

4,441

11

To authorise political donations by the company and its subsidiaries

260,228,321

99.75

657,789

0.25

260,886,110

46.27

19,947

12

Authority to disapply pre-emption rights

260,733,467

99.93

170,579

0.07

260,904,046

46.27

2,011

13

Authority to further disapply pre-emption rights

260,757,057

99.94

147,487

0.06

260,904,544

46.27

1,513

14

Authority to purchase own shares

260,782,090

99.96

96,961

0.04

260,879,051

46.27

27,006

Resolutions 12 to 14 were Special Resolutions.

Notes

* A vote withheld is not a vote in law and is not counted in the calculation of votes ‘for’ and ‘against’ each resolution

As at 8 September 2021, the Company’s issued share capital and total voting rights consisted of 563,836,626 ordinary shares each carrying voting rights. There are no shares in treasury. As a result, proxy votes representing approximately 46% of the voting capital were cast for the AGM.

The full text of the resolutions can be found in the Notice of Meeting on the Company’s website, www.mothercareplc.com.


Trading Update

Whilst we still anticipate that the steady state operation of our existing retail franchise operations, in more normal circumstances, should exceed annual operating profits of £15 million, the Group has continued to be impacted by Covid-19 during this financial year. For the first 21 weeks of our current financial year to March 2022 our total retail sales were £136 million, generating an adjusted EBITDA of approximately £4.0 million representing a significant improvement over the adjusted EBITDA of £2.2 million reported for the year ended 27 March 2021.


Further details:

Investor and analyst enquiries to:

Mothercare plc Email: investorrelations@mothercare.com

Clive Whiley, Chairman

Andrew Cook, Chief Financial Officer


Numis Securities Limited Tel: 020 7260 1000

(Nominated Advisor & Joint Corporate Broker)

Luke Bordewich

Henry Slater


finnCap (Joint Corporate Broker) Tel: 020 7220 0500

Christopher Raggett


Media enquiries to:

MHP Communications Email: mothercare@mhpc.com

Simon Hockridge Tel: 07709 496125

Alistair de Kare-Silver


The trading information contained within this announcement is deemed by the Company to constitute inside information and upon publication this inside information is now considered to be in the public domain.

The person responsible for the release of this announcement is Lynne Medini, Group Company Secretary.


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