REG - Home REIT PLC - Result of AGM

Home ReitAnnouncement

20/02/2025 18:00

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RNS Number : 9371X  Home REIT PLC  20 February 2025

20 February 2025

 

HOME REIT plc

(the "Company")

 

RESULTS OF ANNUAL GENERAL MEETING

 

Following the Annual General Meeting of the Company held earlier today, the
Board is pleased to announce that the resolutions, as set out in the notice of
the Annual General Meeting sent to shareholders on 27 January 2025, were
approved by shareholders. The resolutions put to the meeting were voted on by
way of a poll.

 

In accordance with UK Listing Rule 6.4.2, a copy of the resolutions that do
not constitute ordinary business at an Annual General Meeting have been
submitted to the National Storage Mechanism and will be available shortly for
inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

The results of the poll were as follows:

 

 Resolution                                                                       In favour¹                   Against                      Votes withheld²   % of issued share capital voted

                                                                                  Number of votes  Percentage  Number of votes  Percentage
  1.

 To receive the Annual Report and Accounts for the year ended 31 August 2023,
 together with the reports of the Directors and Auditor thereon.

                                                                                  245,396,593      55.10%      199,942,709      44.90%      75,786,237        56.33%

 2.                                                                               520,322,042      99.86%      706,719          0.14%       96,778            65.91%

 To approve the Directors' Remuneration Report, as set out in the Annual Report
 and Accounts for the year ended 31 August 2023.
 3.                                                                               516,026,279      99.04%      4,982,582        0.96%       116,678           65.90%

 To approve the Directors' Remuneration Policy.

 

                                                                                                98.89%  5,360,721   1.11%  36,862,250  61.25%

 4.                                                                               478,902,568

 To re-elect Roderick Day as a Director of the Company.
 5.                                                                               471,652,159   90.51%  49,427,720  9.49%  45,660      65.91%

 To re-elect Michael O'Donnell as a Director of the Company.
 6.                                                                               511,079,458   98.08%  10,000,421  1.92%  45,660      65.91%

 To re-elect Peter Williams as a Director of the Company.
 7.                                                                               479,468,109   92.01%  41,633,371  7.99%  24,059      65.91%

 To re-appoint BDO LLP as Auditor to the Company.
 8.                                                                               479,477,542   92.02%  41,606,044  7.98%  41,953      65.91%

 To authorise the Directors to determine the Auditor's remuneration.
 9. Special Resolution                                                            515,322,131   98.91%  5,668,339   1.09%  135,069     65.90%

 That the Company be authorised to make market purchases of its Ordinary
 Shares.
 10. Special Resolution                                                           517,123,442   99.27%  3,824,342   0.73%  177,755     65.90%

 That the Company be authorised to make tender offers for its Ordinary Shares.
 11. Special Resolution                                                           520,768,517   99.95%  246,478     0.05%  110,544     65.90%

 That the amount standing to the credit of the share premium account of the
 Company be cancelled.
 12. Special Resolution                                                           511,196,132   98.10%  9,902,099   1.90%  27,308      65.91%

 That a General Meeting of the Company other than an Annual General Meeting may
 be called on not less than 14 clear days' notice.

 

¹ Any proxy arrangement which gave discretion to the Chair has been included
in the 'For' totals.

² A 'Vote Withheld' is not a vote in law and is not counted in the total
votes cast or the calculation of the percentage of votes 'For' or 'Against'
each resolution.

 

The full text of the resolutions can be found in the Notice of the Annual
General Meeting, which is available on the Company's website,
www.homereituk.com (http://www.homereituk.com) .

 

On the record date for voting at the meeting, the Company's issued share
capital consisted of 790,570,465 ordinary shares of £0.01 nominal value each,
carrying one vote each. The Company holds no shares in treasury. Therefore,
the total number of voting rights in the Company was 790,570,465.

 

The Board of the Company notes that although the resolution to receive the
Company's annual report and accounts for the year ended 31 August 2023 was
passed, there were a material number of votes cast against and it also notes
that shareholder advisory consultants recommended that shareholders vote
against the resolution. The Board would like to emphasise that the Group and
Company's Statement of Financial Position for 31 August 2023 is not subject to
the disclaimer of opinion issued with respect to the Consolidated Statement of
Comprehensive Income, Consolidated Statement of Changes in Shareholders'
Equity and Consolidated Statement of Cash Flows, which disclaimer was a direct
result of BDO's inability to gain adequate comfort on the 31 August 2022
Statement of Financial Position. The Board understands and shares
shareholders' frustrations regarding the delays experienced in publishing the
Company's outstanding annual and interim accounts. In accordance with the AIC
Corporate Governance Code, the Company intends to consult further with
relevant shareholders to understand the reasons behind the result, beyond
discussions that have already taken place prior to the Annual General Meeting
(and General Meeting on 5 December 2024 where shareholders voted against the
resolution to receive the Company's annual report and accounts for the year
ended 31 August 2022). It intends to provide an update on or before the 4 June
2025 (being within six months of the date of the General Meeting on 5 December
2024).

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

FTI Consulting (Communications
Adviser)
HomeREIT@fticonsulting.com (mailto:HomeREIT@fticonsulting.com)

Dido
Laurimore
                  +44 (0)20 3727 1000

Oliver Harrison

Bryn Woodward

 

The Company's LEI is: 213800A53AOVH3FCGG44.

 

For more information, please visit the Company's website: www.homereituk.com
(http://www.homereituk.com)

 

END

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