TIDMCML

RNS Number : 6056H

CML Microsystems PLC

04 August 2021

4 August 2021

CML Microsystems Plc

Results of the 2021 Annual General Meeting

CML Microsystems Plc (the "Group" or the "Company"), which develops mixed-signal, RF and microwave semiconductors for global communications markets, today held its Annual General Meeting ("AGM") at 11.00am, Wednesday 4 August 2021. All resolutions put to the shareholders as set out in the Notice of AGM dated 25 June 2021 were passed with the requisite majorities on a show of hands. Details of the proxy and CREST votes cast are as follows:

 
 Resolution                                                     For         %       Against      %     Withheld    % 
 1. To receive and adopt the Group's consolidated 
  financial statements and reports of the Directors 
  and auditor for the year ended 31(st) March 2021.          13,696,101   100.00       0       0.00       0       0.00 
                                                            -----------  -------  ----------  ------  ---------  ----- 
 2. To receive and approve the Directors' Remuneration 
  Report for the year ended 31(st) March 
  2021.                                                      11,569,115   84.47    1,914,239   13.98   212,747    1.55 
                                                            -----------  -------  ----------  ------  ---------  ----- 
 3. To declare a final dividend of 50.0p per 5p ordinary 
  share for the year ended 31(st) March 
  2021.                                                      13,696,101   100.00       0       0.00       0       0.00 
                                                            -----------  -------  ----------  ------  ---------  ----- 
 4. To re-appoint J Lindop as Director, who retires from 
  the Board by rotation.                                     13,694,625   99.99      1,276     0.01      200      0.00 
                                                            -----------  -------  ----------  ------  ---------  ----- 
 5. To send or supply all documents or information 
  relating to the Company to members by making 
  them available on a website.                               13,694,441   99.99      1,000     0.01      660      0.00 
                                                            -----------  -------  ----------  ------  ---------  ----- 
 6. To appoint BDO LLP, as auditor of the Company.           13,695,101   99.99      1,000     0.01       0       0.00 
                                                            -----------  -------  ----------  ------  ---------  ----- 
 7. To authorise the Directors to determine the 
  remuneration of the auditor.                               13,695,101   99.99      1,000     0.01       0       0.00 
                                                            -----------  -------  ----------  ------  ---------  ----- 
 8. To authorise the Directors to cancel the listing of 
  the Company on the standard segment 
  of the Official List of the Financial Conduct Authority 
  and admission to trading on the London 
  Stock Exchange plc's Main Market for listed securities 
  and to apply for admission of the said 
  ordinary shares to trading on AIM, a market operated by 
  London Stock Exchange plc                                  13,692,001   99.97      1,000     0.01     3,100     0.02 
                                                            -----------  -------  ----------  ------  ---------  ----- 
 9. To authorise the Directors to allot shares.              13,680,362   99.89     12,639     0.09     3,100     0.02 
                                                            -----------  -------  ----------  ------  ---------  ----- 
 10. To disapply the pre-emption provisions of The 
  Companies Act 2006.                                        13,680,162   99.88     12,099     0.09     2,840     0.02 
                                                            -----------  -------  ----------  ------  ---------  ----- 
 11. To disapply the pre-emption provisions of The 
  Companies Act 2006 for the purposes of financing 
  an acquisition or capital investment.                      10,980,972   80.18    2,711,289   19.80    2,840     0.02 
                                                            -----------  -------  ----------  ------  ---------  ----- 
 12. To renew the authority to the Company to make market 
  purchases of its own shares.                               13,692,185   99.97       276      0.00     2,640     0.02 
                                                            -----------  -------  ----------  ------  ---------  -----

In accordance with Listing Rule 9.6.2R, a copy of the Resolutions passed at the AGM will be submitted to the National Storage Mechanism where it will shortly be available at https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism .

Following the passing of the resolutions 8, the Group today expects to make an application to cancel the Company's admission to the Official List and to trading on the Main Market ("Cancellation") and seek admission to trading on AIM ("Admission"). The Cancellation is expected to become effective at 8.00 a.m. on 3 September 2021 and Admission is expected to become effective at 8.00 a.m. on the same date, 3 September 2021.

 
 CML Microsystems Plc            www.cmlmicroplc.com 
  Chris Gurry, Group Managing     Tel: +44(0)1621 875 500 
  Director 
  Nigel Clark, Group Executive 
  Chairman 
 Shore Capital                   Tel: +44(0)20 7408 4090 
  Edward Mansfield 
  James Thomas 
  John More 
 SP Angel Corporate Finance      Tel: +44(0)203 463 2260 
  LLP 
  Jeff Keating 
 Alma PR 
  Josh Royston                     Tel: +44 (0)20 3405 0212 
  Caroline Forde 
  Robyn Fisher 
  Andy Bryant 
  Matthew Young

About CML Microsystems PLC

CML develops mixed-signal, RF and microwave semiconductors for global communications markets. The Group utilises a combination of outsourced manufacturing and in-house testing with trading operations in the UK, Asia and USA. CML targets sub-segments within Communication markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading commercial and industrial product manufacturers.

The spread of its customers and diversity of the product range largely protects the business from the cyclicality usually associated with the semiconductor industry. Growth in its end markets is being driven by factors such as the appetite for data to be transmitted faster and more securely, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial wireless networks for voice and/or data communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.

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August 04, 2021 10:55 ET (14:55 GMT)

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