47153 AG Barr Annual Report 2025 AW4 SQ WEB - Flipbook - Page 199
Strategic Report
Corporate Governance
Accounts
13. THAT the board of directors of the Company (the “Board”) be and it is hereby generally and unconditionally authorised pursuant to and in accordance with section 551
of the Companies Act 2006 (the “2006 Act”) to exercise all the powers of the Company to allot shares in the capital of the Company and to grant rights to subscribe for
or to convert any security into shares in the Company:
a. up to an aggregate nominal amount of £1,555,956.54; and
b. up to a further aggregate nominal amount of £1,555,956.54 provided that: (i) they are equity securities (within the meaning of section 560 of the 2006 Act); and
(ii) they are offered by way of a rights issue in favour of the holders of shares (excluding the Company in its capacity as a holder of treasury shares) on the register
of members of the Company on a date fixed by the Board where the equity securities respectively attributable to the interests of such holders are proportionate
(as nearly as practicable) to the respective numbers of shares held by them on that date subject to such exclusions or other arrangements as the Board deems necessary
or expedient to deal with: (i) equity securities representing fractional entitlements; (ii) treasury shares; and/or (iii) legal or practical problems arising in any overseas
territory, the requirements of any regulatory body or any stock exchange or any other matter whatsoever, provided that this authority shall expire on the earlier of 31 July
2026 and the conclusion of the next annual general meeting of the Company after the passing of this resolution, save that the Company may before such expiry make
an offer or enter into an agreement which would or might require shares to be allotted, or rights to subscribe for or to convert securities into shares to be granted, after
such expiry and the Board may allot shares or grant such rights in pursuance of such an offer or agreement as if the authority conferred hereby had not expired.
14. THAT, subject to the passing of resolution 13 set out in the notice of the annual general meeting of the Company convened for 23 May 2025 (“Resolution 13”), the board
of directors of the Company (the “Board”) be and it is hereby generally empowered, pursuant to sections 570 and 573 of the Companies Act 2006 (the “2006 Act”), to
allot equity securities (within the meaning of section 560 of the 2006 Act) (including the grant of rights to subscribe for, or to convert any securities into, ordinary shares
of 4 1/6 pence each in the capital of the Company (“Ordinary Shares”), wholly for cash either pursuant to the authority conferred on them by Resolution 13 or by way of
a sale of treasury shares (within the meaning of section 560(3) of the 2006 Act) as if section 561(1) of the 2006 Act did not apply to any such allotment or sale, provided
that this power shall be limited to:
a. the allotment of equity securities, for cash, in connection with a rights issue, open offer or other pre-emptive offer in favour of holders of Ordinary Shares (excluding
the Company in its capacity as a holder of treasury shares) on the register of members of the Company on a date fixed by the Board where the equity securities
respectively attributable to the interests of such holders are proportionate (as nearly as practicable) to the respective numbers of Ordinary Shares held by them on
that date subject to such exclusions or other arrangements in connection with the rights issue, open offer or other offer as the Board deem necessary or expedient
to deal with: (i) equity securities representing fractional entitlements; (ii) treasury shares; and/or (iii) legal or practical problems arising in any overseas territory,
the requirements of any regulatory body or any stock exchange or any other matter whatsoever; and
b. the allotment (otherwise than pursuant to sub-paragraph (a) above) of equity securities up to an aggregate nominal amount of £466,786.96, provided that this
authority shall expire on the earlier of 31 July 2026 and the conclusion of the next annual general meeting of the Company after the passing of this resolution, save
that the Company may before such expiry make an offer or enter into an agreement which would or might require equity securities to be allotted after the expiry
of this authority and the Board may allot equity securities pursuant to such an offer or agreement as if the authority conferred hereby had not expired.
15. THAT the Company be and is hereby generally and unconditionally authorised for the purposes of section 701 of the Companies Act 2006 (the “2006 Act”) to make one or
more market purchases (within the meaning of section 693(4) of the 2006 Act) of ordinary shares of 4 1/6 pence each in the capital of the Company (“Ordinary Shares”),
on such terms and in such manner that the directors think fit, provided that:
a. the maximum aggregate number of Ordinary Shares hereby authorised to be purchased shall be 11,202,887;
b. the maximum price (exclusive of expenses) which may be paid for an Ordinary Share is an amount equal to the higher of: (i) 105% of the average of the middle market
quotations for an Ordinary Share as derived from the London Stock Exchange Daily Official List for the five dealing days immediately preceding the day on which the
Ordinary Share is purchased; and (ii) the higher of the price of the last independent trade and the highest current independent bid for an Ordinary Share on the
trading venue where the purchase is carried out;
c. the minimum price which may be paid for an Ordinary Share is an amount equal to its nominal value (in each case exclusive of associated expenses);
d. unless previously renewed, varied or revoked, the authority hereby conferred shall expire on the earlier of 31 July 2026 and the conclusion of the next annual general
meeting of the Company after the passing of this resolution, but a contract to purchase Ordinary Shares may be made before such expiry which will or may be
completed wholly or partly thereafter, and a purchase of Ordinary Shares may be made in pursuance of any such contract; and
e. an Ordinary Share so purchased shall be cancelled or, if the directors so determine and subject to the provisions of applicable laws or regulations of the Financial
Conduct Authority, held as a treasury share.
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