7 March 2024
De La Rue plc
2023 AGM voting update
In its 2023 Annual General Meeting
results announcement on 7 September 2023, De La Rue plc noted that
Resolution 15, in relation to the additional dis-application of
pre-emption rights, did not receive sufficient support to be passed
at the AGM and received over 20% of votes against.
The Board confirmed that the
resolution was entirely in line with the Statement of Principles
published by the Pre-Emption Group in November 2022 and the
specific authority sought would have been limited to issuance of
equity for cash in connection with an acquisition or specified
capital investment. The Board was aware that at the time, market
practice in relation to the dis-application of pre-emption rights
had yet to settle on a consensus position, notwithstanding the
Austin Review of secondary capital raising and the subsequent
amendment of the Statement of Principles by the Pre-Emption
Group.
Subsequent to the AGM, we have
engaged with our largest shareholders to understand their views on
this resolution, which included that the level of authority sought
could result in inappropriate levels of dilution.
The Board will continue to consult
with shareholders and will keep this matter under review in
determining the authorities to be sought by shareholders at the
2024 AGM.
Enquiries
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De
La Rue plc
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+44
(0)1256 605000
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Jon Messent
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Company Secretary and General
Counsel
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Louise Rich
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Head of Investor
Relations
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About De La Rue
Established 210 years ago, De La Rue
is trusted by governments, central banks, and international brands,
providing digital and physical solutions that protect their supply
chains and cash cycles from counterfeiting and illicit
trade.
With operations in five continents,
customers in 140 countries and solutions that include advanced
track and trace software, security document design, banknotes,
brand protection labels, tax stamps, security features and passport
bio-data pages, De La Rue brings unparalleled knowledge and
expertise to its partnerships and projects.
Our core focus areas are:
- Authentication: leveraging
advanced digital software solutions and security labels to protect
revenues and reputations from the impacts of illicit trade,
counterfeiting, and identity theft.
- Currency: designing and
manufacturing highly secure banknotes and banknote components that
are optimised for security, manufacturability, cash cycle efficacy
and public engagement.
The security and trust derived from
our solutions pave the way for robust economies and flourishing
societies. This is underpinned by a significant Environmental,
Social, and Governance commitment that is evidenced by accolades
such as the ISO 14001 certification and a consistent ranking in the
top tier of the Financial Times European Climate Leaders
list.
De La Rue's shares are traded on the
London Stock Exchange (LSE: DLAR). De La Rue plc's LEI code is
213800DH741LZWIJXP78. For further information please visit
www.delarue.com.