TIDMTATE
RNS Number : 5642N
Tate & Lyle PLC
30 September 2021
30 September 2021
Tate & Lyle PLC
("Tate & Lyle" or the "Company")
Result of General Meeting
On 12 July 2021, Tate & Lyle announced that it had entered
into an agreement to sell a controlling stake in a new company and
its subsidiaries which will hold Tate & Lyle's Primary Products
business in North America and Latin America and its interests in
the Almidones Mexicanos S.A de C.V and DuPont Tate & Lyle
Bio-Products Company, LLC joint ventures, to Gemini Holdings, LP,
an affiliate of funds managed by KPS Capital Partners, LP (such
sale together with the entry into of certain related transaction
agreements being the "Transaction").
The Transaction constitutes a Class 1 transaction for Tate &
Lyle under the Listing Rules and is conditional upon, amongst other
things, the approval of Tate & Lyle's ordinary shareholders at
a general meeting.
Tate & Lyle is pleased to announce that the resolution
proposed at the general meeting held earlier today (the "General
Meeting") seeking approval by Tate & Lyle's ordinary
shareholders of the Transaction, was duly passed. A separate
resolution, seeking the approval by Tate & Lyle's ordinary
shareholders of an amendment to the Company's remuneration policy,
was also duly passed. Details of the resolutions were set out in a
circular distributed to Tate & Lyle's ordinary shareholders and
made available on the Company's website on 13 September 2021 (the
"Circular"). Each resolution was passed as an ordinary
resolution.
Full details of the poll results are set out below.
Resolution Total For(1) Total Against Votes withheld(2)
No. of % of No. of votes % of No. of
votes votes vote votes
cast cast
------------ ------- ------------- ------ ------------------
1. Approval of the
Transaction 339,460,635 99.90 337,222 0.10 73,671
------------ ------- ------------- ------ ------------------
2. Approval of amendment
to the Company's remuneration
policy 337,351,740 99.29 2,427,714 0.71 92,074
------------ ------- ------------- ------ ------------------
(1) Includes discretionary votes.
(2) A 'vote withheld' is not a vote in law and is therefore not
counted in the calculation of the proportion of votes 'For' or
'Against' a resolution.
Tate & Lyle has now satisfied the condition relating to the
approval of the Transaction by Tate & Lyle's ordinary
shareholders. Completion of the Transaction remains subject to a
number of other conditions being satisfied, including (amongst
others) obtaining certain anti-trust clearances as well as
completion of a reorganisation and an information technology
separation. Completion of the Transaction is expected in the first
quarter of the 2022 calendar year.
As at 6.30 p.m. (London time) on 28 September 2021 (being the
time at which ordinary shareholders who wanted to attend, speak and
vote at the General Meeting were required to have their details
entered in the Company's register of members), there were
468,493,667 ordinary shares in issue. The Company does not hold any
ordinary shares in treasury. Each ordinary share carries the right
to one vote per share.
In accordance with Listing Rule 9.6.2, copies of the resolutions
passed at the General Meeting will shortly be available to view via
the National Storage Mechanism at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
For more information contact:
For Tate & Lyle PLC
Investors and analysts
Christopher Marsh, VP Investor Relations
Tel: Mobile: +44 (0) 7796 192 688
Media
Nick Hasell, FTI Consulting
Tel: Mobile: +44 (0) 7825 523 383
Information on Tate & Lyle
Tate & Lyle is a leading global provider of food and
beverage ingredients and solutions. Supported by our 160-year
history of ingredient innovation, we partner with customers to
provide consumers with healthier and tastier choices when they eat
and drink. We are proud that millions of people around the world
consume products containing our ingredients every day.
Through our expertise in sweetening, mouthfeel and fibre
fortification, our Food & Beverage Solutions business develops
solutions which reduce sugar, calories and fat, add fibre, and
provide texture and stability in categories including beverages,
dairy, bakery, soups, sauces and dressings. Our Primary Products
business produces nutritive sweeteners, industrial starches used in
paper and packaging, acidulants and products used for animal
nutrition.
Tate & Lyle's purpose is Improving Lives for Generations and
through our purpose we believe we can successfully grow our
business and have a positive impact on society. We live our purpose
in three ways, by supporting healthy living, building thriving
communities and caring for our planet.
Tate & Lyle is listed on the London Stock Exchange under the
symbol TATE.L. American Depositary Receipts trade under TATYY. For
more information, please visit http://www.tateandlyle.com or follow
Tate & Lyle on Twitter or LinkedIn.
Tate & Lyle's Legal Entity Identifier is
2138008K14474WPKZ244
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END
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(END) Dow Jones Newswires
September 30, 2021 06:59 ET (10:59 GMT)
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