Shareholders frequently asked questions

This section provides you with answers to the most frequently asked questions by shareholders.

If our Investor Relations pages do not contain the information you require or you require further details on a particular subject, do not hesitate to contact the Company Secretary of Treatt plc or the company's registrars, Capita Asset Services, who will be happy to assist.  Contact details for both can be found on the Contacts page.

 

Q. Where can I find the Treatt plc share price?

A. Treatt plc is quoted on the London Stock Exchange and a link to the current share price can be found on the home page of the Investor Relations section of this website and on various other websites which provide investor information. The share price can also be found in the Independent newspaper.

 

Q. When are the company's results announced?

A . The company announces its interim results in May, usually around the third week, and its full year results in early December.  In accordance with the Disclosure and Transparency Rules the company issues interim management statements (IMS) during the first and second 6 months of the financial year but dates of release are not fixed, other than being made within the timescale set out in the Disclosure and Transparency Rules.

 

Q. Is the interim statement sent to shareholders?

A. Interim statements can be found in the Financial Information section of this website but are not mailed to shareholders.  However, if you would like to receive a hardcopy of the interim statement, please contact the Company Secretary, who will be happy to send you a copy.

 

Q. What should I do if I have lost my share certificate?

A. Please see the lost share certificate section of this website for further details.

 

Q. When are dividends paid?

A. The dividends section of this website provides dates of forthcoming dividends in addition to historical data.

 

Q. Can I take my dividend in shares rather than cash?

A. Yes, Treatt plc operates a Dividend Re-Investment Plan (DRIP), details of which can be found on the link.

 

Q. Can I obtain a replacement dividend cheque?

A. Replacement dividend cheques can be requested in writing from Capital Asset Services, enclosing the appropriate administration fee.  An administration fee is payable where the  value of the original dividend cheque is over £30.  Details of the appropriate fees can be obtained from Capita on the telephone number provided on the Contacts page.

 

Q . My details have changed, who do I need to advise?

A. Please see the change of name or change of address sections of this website for further details.

 

Q. What happens to shares owned by a deceased shareholder?

A. Please see the death of a shareholder section of this website for details of actions required.

 

Q. What is the chairman's role?

A. The job of the Chairman is to run the Board so that it is collectively responsible for the long-term success of the Company.  It is not to run the Company; that is the CEO's job.  In the words of the UK Corporate Governance Code the role of Chairman is "to provide entrepreneurial leadership within a framework of prudent and effective controls which enable risk to be assessed and managed".   The Chairman has two reports; the Company Secretary to ensure that all relevant information is made available to the Board and to organise its business and the CEO to ensure that the Company's strategy is being delivered as agreed.  The Board empowers the Executive to deliver the strategy and ensures that the Company has the right tools to do the job – people, plant, liquidity etc.

The Chairman of Treatt is also Chair of the Nomination Committee, responsible for ensuring an effective mix of skills is represented on the Board and leading the appointment and, if necessary, the resignation of Board members.

The Chairman must ensure that the Board remains committed to working in the best interests of the Company to promote its success and mindful of the long term consequence of its decisions on not only its shareholders but on wider stakeholders such as employees, suppliers, customers, the community and environment.

 

Q. When is the next AGM?

A. Details in respect of the AGM can be found in the AGM section of this website.

 

Q. Why is the AGM held in the morning?

A. The views of shareholders have been taken into account in setting the time of the AGM and consequently it has been moved to 10.30am to enable shareholders to travel to the meeting.  The company aims to strike a balance between the opportunity for shareholders to meet and question the company's directors, the maximisation of the directors' time in attending to company business and the control of costs as a small fledgling index company.  Board and Committee meetings are held on the same day in order to ensure the most efficient use of directors' time and the minimisation of attendance costs.

 

Q. Why, at the AGM each year, does the Company propose the same three resolutions in respect of allotment of shares, disapplication of pre-emption rights and the authority to make market purchases?

A. These are standard resolutions which are found on AGM notices of most listed companies.  A company is not permitted to allot new shares without the authority of its shareholders and therefore most companies seek to maintain a rolling authority, renewed annually at the AGM, which provides the Board with flexibility to allot a restricted number of shares (to a maximum of 33% of the issued share capital of the company) without having to call an EGM to seek authority from shareholders.

Existing shareholders have a right of first refusal (pre-emption rights) over the issue of new shares by the company. This allows them to keep the proportion of their shareholding in the company intact.   Shareholders may agree, by passing a Special Resolution requiring a 75% majority, to disapply pre-emption rights on a restricted number of shares (to a maximum of 5% of the issued share capital of the company).

Treatt has an issued share capital of 10,481,034 shares.  Therefore, if both of these resolutions were passed at a general meeting, the company would have authority to allot up to 3,458,741 new shares (approximately 33% of the issued share capital).  Of these new shares 524,051 (approximately 5% of the issued share capital) would not have pre-emption rights attached and therefore would not have to be offered to existing shareholders, but pre-emption rights would remain intact on the other 2,934,690 new shares, thereby protecting existing shareholders.

A company is not permitted to buy its own shares without the authority of its shareholders, which is provided by the passing of a Special Resolution, requiring a 75% majority, and therefore most companies seek to maintain a rolling authority, renewed annually at the AGM, which provides the Board with flexibility to make market purchases of a restricted number of shares (to a maximum of 10% of the issued share capital of the company) without having to call an EGM to seek authority from shareholders.  Shares which are bought are held in treasury (without voting or dividend rights) or cancelled but because the number of shares carrying voting rights and ranking for dividend is reduced the relative ownership stake of every shareholder and the earnings per share are increased.

 

Q. I receive duplicate copies of the Report and Accounts; how do I stop this?

A. Your shareholding may be held under different accounts, which can arise from inconsistencies in your name or address and you will receive mailings in respect of each account.  It is possible to merge accounts to create a single shareholding.  Please contact Capita Asset Services for assistance in merging your accounts.

 

Q. How do I get information directly from Treatt plc if my shares are registered in the name of a nominee?

A. Beneficial owners of shares held on their behalf by a different registered holder have certain information rights in respect of the shares they own. They will have the right to ask their registered holder to nominate them to receive all non-personalised information distributed to our shareholders, in accordance with the provisions of section 146 of the Companies Act 2006.

Should you wish to be nominated to receive information from Treatt plc directly, please contact your registered holder, who will need to notify our registrars, Capita Asset Services, accordingly. Please note that, once nominated, beneficial owners of shares must continue to direct all communications regarding those shares to the registered holder of those shares rather than to our registrars or to us directly.

 

Q. I do not own shares in Treatt plc; how can I get on the mailing list?

A. You can call, email or write to the Company Secretary and request to be added to the mailing list.