Fevertree Drinks PLC, a leading supplier of premium carbonated mixers, has released its 2023 Annual Report and Notice of Annual General Meeting. The AGM is scheduled for June 6, 2024, at the company's office in London. Shareholders are encouraged to notify the company in advance if they plan to attend in person.
The company also addressed a technical compliance issue concerning an interim dividend paid to shareholders in 2023. The prior audited annual accounts did not show sufficient distributable reserves to permit the payment. However, the company clarified that there is no impact on its financial results, and its ability to pay future dividends remains unaffected.
To address the issue, the company is proposing an additional resolution as part of the AGM Notice. If passed, the resolution will ratify the Relevant Distribution, waive any claims against recipient shareholders and directors, and put all potentially affected parties in the position they were intended to be. This approach is consistent with that taken by other UK incorporated companies in similar situations.
The entry into the Directors' Deed of Release and the Shareholders' Deed of Release constitutes a related party transaction. The company's current director, David Lapp, and Clare Swindell, who are not shareholders, consider the entry into the Deeds of Release to be fair and reasonable for the company's shareholders.
For further information, investors can contact Ann Hyams, Director of Investor Relations, and for media queries, Oliver Winters, Director of Communications. Investec Bank plc serves as the Nominated Advisor and Broker, and Morgan Stanley & Co, International plc as the Corporate Broker.
This comprehensive summary covers the key points from the Fevertree Drinks PLC's recent announcement, providing shareholders and stakeholders with a clear understanding of the company's 2023 Annual Report, AGM Notice, and the Related Party Transaction.