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


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) Dow Jones Newswires

September 30, 2021 06:59 ET (10:59 GMT)

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