.
CLS Holdings plc
(the "Company" or "CLS")
Result of AGM and Directorate Changes
1. At the Annual General Meeting ("AGM") of the Company held at 10.00am today,
all the resolutions set out in the Notice of Meeting dated 23 March 2010 were
unanimously passed on a show of hands. Details of the Proxy votes are shown
below and will shortly be available on the Company's website (www.clsholdings.com):
For* Against Votes Withheld**
Total
Votes Cast
% % (excl.
Votes Votes Votes
Resolution Votes Cast Votes Cast Votes Withheld)
Receive and adopt the Annual Report & Accounts 38,264,641 99.94 23,340 0.06 119,532
38,287,981
Approve the Directors' Remuneration Report 33,134,210 91.52 3,071,453 8.48 2,201,850 36,205,663
Re-appoint John Whiteley as a Director 38,396,908 99.98 9,331 0.02 1,275 38,406,239
Re-elect Sten Mortstedt as a Director 12,302,538 91.02 1,214,377 8.98 24,890,598 13,516,915
Re-elect Thomas Lundqvist as a Director 31,442,350 82.48 6,680,476 17.52 284,688 38,122,826
Re-elect Tom Thomson as a Director 38,030,875 99.02 376,638 0.98 0 38,407,513
Re-elect Bengt Mörtstedt as a Director 37,774,439 99.09 348,386 0.91 284,688 38,122,825
Re-appoint Deloitte LLP as auditors 38,407,514 100.00 0 0.00 0 38,407,514
Authorise the directors to determine the
auditors' remuneration 38,407,514 100.00 0 0.00 0 38,407,514
Authorise the directors to allot
relevant securities 38,381,022 99.93 26,492 0.07 0 38,407,514
Authorise the directors to make non
pre-emptive share allotments 38,401,580 99.98 5,934 0.02 0 38,407,514
Authorise the directors to offer a
scrip dividend option 38,386,332 99.94 21,182 0.06 0 38,407,514
Authorise the directors to make market
purchases of shares 38,383,673 99.94 23,840 0.06 0 38,407,513
Authorise General Meetings to be called on
not less than 14 clear days' notice 37,214,954 96.97 1,164,308 3.03 28,252 38,379,262
Adopt New Articles of Association of the Company 38,384,173 100.00 0 0 23,340 38,384,173
* Includes those votes giving the Chairman discretion.
** These votes are not counted towards the votes cast at the Annual General
Meeting.
A copy of the resolutions passed under special business at the Annual General
Meeting, along with a copy of the Articles of Association, will be submitted to
the UK Listing Authority and will shortly be available for inspection at:
Document Viewing Facility
Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
Telephone: +44 (0) 20 7066 1000
2. The Company announces that, at a meeting of the Directors following the
AGM, the following changes were made to the Board of the Company:
i. Further to the announcement made on 11 March 2010, Richard Tice, Deputy
Chief Executive Officer, was appointed to the Board of the Company with
immediate effect;
ii. Bengt Mortstedt resigned as Non-Executive Director of the Company with
immediate effect. Having helped to establish CLS, Mr Mortstedt joined the
Board as an Executive Director in 1987 and became a Non-Executive Director in
1998; and
iii. Jennica Mortstedt was appointed as a Non-Executive Director of the
Company with immediate effect. Ms Mortstedt, 26, is the daughter of Bengt
Mortstedt and has eight years' experience in the hotel industry. She has a
degree in International Business and Hospitality from Ecole Hotèliere de
Lausanne, Switzerland.
Sten Mortstedt, Executive Chairman, commented:
"I am delighted that Richard has joined the Board. His experience is already
proving to be of great benefit to us as we continue to develop our business in
the current challenging economic environment.
"The Board also wishes to thank Bengt for his contribution to the success of
CLS over the last 23 years and wish him well for the future. We are delighted
that Jennica has agreed to join CLS and look forward to working with her."
Pursuant to Listing Rule 9.6.13 (1), the Company reports that Richard Tice was
a director of South African Property Opportunities plc, listed on AIM, until 30
September 2009. There is no further information required to be disclosed
pursuant to LR 9.6.13.
Enquiries:
CLS Holdings plc +44 (0)20 7582 7766
Sten Mortstedt, Executive Chairman
Henry Klotz, Chief Executive Officer
Richard Tice, Deputy Chief Executive Officer
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