The Board of Directors is pleased to announce the results of the general meeting of the Company (the “General Meeting”). The General Meeting was convened by the Company following a requisition notice received from one of the Company’s shareholders, First Seagull AS (“FS”).
All five resolutions proposed by FS, including those seeking the removal of three existing non-executive directors and the appointment of two new non-executive directors nominated by FS, were decisively defeated by shareholders. The turnout was c.70%, which was higher than that of our last Annual General Meeting (c.67%), held just under two weeks ago.
The Board wishes to express its gratitude for the strong level of support shown by shareholders.
Full details of the voting on each of the resolutions are set out below.
As noted at the General Meeting, the two resolutions to appoint Andrea Davis and Stian Husvaeg as non-executive directors (resolutions (d) and (e)) were put to the meeting as advisory votes only as the Company did not receive the notices required under the Company’s articles of association for those appointments to be made at the General Meeting.
We acknowledge that the General Meeting process has been a distraction for Headlam and our shareholders, colleagues and other stakeholders and wish to highlight the destabilising impact caused by the actions of the requisitioning shareholder, FS. As the Board, we now call for a period of stability to allow Headlam’s new executive team to focus on delivering actions that will benefit all our stakeholders. Should any further campaigns persist, the Board will continue to vigorously defend the rights of our majority shareholders, colleagues and other stakeholders.
The Board remains committed to engaging with all shareholders, listening to their views, and acting in the best interests of the Group.
