Reach (RCH)

Sector:

Media

Index:

FTSE Small Cap

101.40p
   
  • Change Today:
      1.10p
  • 52 Week High: 420.00
  • 52 Week Low: 95.45
  • Currency: UK Pounds
  • Shares Issued: 315.06m
  • Volume: 912,564
  • Market Cap: £319.48m

Reach defends director Hatch after revolt over missed meetings

By Sean Farrell

Date: Friday 06 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Reach said non-executive director Steve Hatch was an "invaluable" member of the board but kept its options open after almost a third of shareholder votes opposed him at the company's annual general meeting.
At the AGM in May, 32.9% of votes were cast against Hatch's re-election to the media group's board. Shareholders were unhappy that Hatch, who was paid £45,000 in 2019, attended only seven of 11 board meetings that year.

Hatch sits on Reach's remuneration committee but only went to one of its four meetings. He also missed one of three nomination committee meetings. Hatch, who is Facebook's vice president for Northern Europe, joined Reach's board in December 2015.

Reach, which publishes the Mirror and Express papers, said it had spoken to investors to understand their views after the revolt. It said Hatch was involved in all important debates and decisions and in developing strategy. Reach did not give reasons for Hatch missing meetings.

"The board regards Mr Hatch's broad contribution as invaluable and benefits greatly from his expertise, insight and guidance," Reach said. "The company will continue to engage with shareholders on this matter as appropriate and provide any further update in the company's 2020 annual report and accounts."

The UK's governance code requires companies to consult with investors if an AGM resolution is opposed by at least 20% of votes. The company has six months to publish an update and then has to provide a final summary in the next annual report.







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Reach Market Data

Currency UK Pounds
Share Price 101.40p
Change Today 1.10p
% Change 1.10 %
52 Week High 420.00
52 Week Low 95.45
Volume 912,564
Shares Issued 315.06m
Market Cap £319.48m

Reach Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.60% above the market average96.60% above the market average96.60% above the market average96.60% above the market average96.60% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
53.49% below the market average53.49% below the market average53.49% below the market average53.49% below the market average53.49% below the market average
74.07% below the sector average74.07% below the sector average74.07% below the sector average74.07% below the sector average74.07% below the sector average
Income
98.62% above the market average98.62% above the market average98.62% above the market average98.62% above the market average98.62% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
16.23% above the market average16.23% above the market average16.23% above the market average16.23% above the market average16.23% above the market average
32.08% above the sector average32.08% above the sector average32.08% above the sector average32.08% above the sector average32.08% above the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Reach Dividends

  Latest Previous
  Final Interim
Ex-Div 12-May-22 12-Aug-21
Paid 10-Jun-22 24-Sep-21
Amount 4.46p 2.75p

Trades for 01-Jul-2022

Time Volume / Share Price
16:35 25,000 @ 101.40p
16:35 167,309 @ 101.40p
16:29 2,000 @ 100.76p
16:29 237 @ 100.90p
16:29 786 @ 100.90p

Reach Key Personnel

Chair Nick Prettejohn
CFO Simon Fuller
CEO Jim Mullen

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