Aggreko moves AGM from Glasgow to London

Glasgow-based temporary power giant Aggreko plc said on Tuesday it has moved the venue for its AGM on April 23 from Glasgow to London due to the UK’s “Stay at Home Measures” amid the coronavirus pandemic.

The news follows a statement from Aggreko on March 24 when it said it will “enter detailed discussions” with the Tokyo Organising Committee of the Olympic and Paralympic Games (TOCOG) about its power supply contract following the postponement of the Games. The contract is worth up to $250 million.

“Since the posting of the notice of the 2020 Annual General Meeting (AGM), to take place on Thursday 23 April 2020 at 11.00am, the UK and Scottish Governments have announced compulsory measures (the ‘Stay at Home Measures’) prohibiting, among other things, public gatherings of more than two people,” said Aggreko on Tuesday.

“As a result, the board has decided that it is no longer practical or desirable to hold the company’s AGM at 200 SVS, 200 St Vincent Street, Glasgow G2 5RQ, as previously notified in the notice of meeting. 

“In the circumstances, the AGM will be held on the same date and at the same time, but at the offices of the company at 5th Floor, Asticus, 21 Palmer Street, London SW1H OAD, and will be restricted to the formal business of the AGM with no corporate presentation or questions.

“If the Stay at Home Measures remain in place for England, the meeting will be restricted to two attendees (for example the chairman and chief executive officer) both of whom will be eligible to countfor the purposes of forming a quorum, in order to comply with Government measures on gatherings that are ‘essential for work purposes’.

“Other shareholders should not seek to attend the AGM in person and will not be admitted. 

“The board encourages all shareholders to exercise their vote by appointing the chairman of the meeting as their proxy and providing voting instructions in advance of the AGM, in accordance with the instructions explained in the notice of AGM.

“At the AGM, resolutions will be put to a vote on a poll, rather than on a show of hands.

“This will result in a more accurate reflection of the views of shareholders and ensure that your proxy votes are recognised …

“Please note that as announced on 23 March, the board has withdrawn its recommendation of the final dividend for the year ended 31 December 2019, and accordingly that Resolution 3 will be withdrawn at the AGM.

“The situation in relation to COVID-19 continues to develop. 

“The Board encourages shareholders to monitor the company’s website and regulatory news services for any updates in relation to the AGM.”

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