REG - Land Sec. Group PLC - Result of AGM
RNS Number : 5788SLand Securities Group PLC09 July 20209 July 2020
Land Securities Group PLC (the "Company")
Voting results of Annual General Meeting
The Company announces the voting results of its Annual General Meeting ("AGM") held earlier today at 80 Victoria Street, London, SW1E 5JL. All resolutions, as set out in the Notice of Meeting dated 8 June 2020, were passed with the requisite majority by means of a poll.
Resolutions 1 to 15 were passed as Ordinary Resolutions and resolutions 16 to 18 were passed as Special Resolutions.
RESOLUTION
VOTES
FOR*%
FOR
VOTES
AGAINSTTOTAL VOTES FOR / AGAINST
VOTES
WITHHELD**1.
To receive the accounts of the Company for the year ended 31 March 2020 and the Directors' and Auditors' Reports thereon
529,157,279
99.99%
59,006
529,216,285
734,478
2.
To approve the Annual Report on Remuneration
474,927,370
89.72%
54,442,666
529,370,036
580,726
3.
To elect Mark Allan as a Director
529,331,341
99.98%
89,371
529,420,712
530,051
4.
To re-elect Martin Greenslade as a Director
528,063,258
99.74%
1,360,593
529,423,851
526,912
5.
To re-elect Colette O'Shea as a Director
529,292,834
99.98%
130,050
529,422,884
527,879
6.
To re-elect Edward Bonham Carter as a Director
421,559,368
79.63%
107,863,200
529,422,568
528,194
7.
To re-elect Nicholas Cadbury as a Director
529,058,262
99.93%
365,039
529,423,301
527,461
8.
To re-elect Madeleine Cosgrave as a Director
526,981,760
99.54%
2,441,654
529,423,414
527,348
9.
To elect Christophe Evain as a Director
523,437,860
98.87%
5,977,637
529,415,497
535,266
10.
To re-elect Cressida Hogg as a Director
527,429,763
99.62%
2,008,679
529,438,442
512,320
11.
To re-elect Stacey Rauch as a Director
481,061,728
90.87%
48,360,776
529,422,504
528,259
12.
To re-appoint Ernst & Young LLP as auditor
527,045,293
99.98%
118,275
527,163,568
2,787,195
13.
To determine the remuneration of the auditor
529,328,524
99.98%
115,049
529,443,573
507,190
14.
To make political donations
524,626,413
99.09%
4,800,064
529,426,477
524,286
15.
To allot securities
482,036,345
91.05%
47,395,888
529,432,233
518,530
16.
To disapply pre-emption rights
509,416,296
97.12%
15,093,839
524,510,135
5,440,628
17.
To disapply pre-emption rights for purposes of acquisitions or capital investments
505,799,400
96.43%
18,708,913
524,508,313
5,442,449
18.
To purchase own shares
523,636,687
98.96%
5,527,410
529,164,097
786,665
* Includes discretionary votes
**A vote withheld is not a vote in law and is therefore not included in the calculation of total votes For/Against
Total voting rights at 9 July 2020: 741,473,884 Ordinary shares of 10 2/3 p each
Number of votes per share: One
Total number of votes cast: 529,443,573 Ordinary shares (i.e.71.40% turnout)
Closed meeting
Due to Covid-19 restrictions, the Company held a closed Annual General Meeting with only the minimum number of shareholders present who were all members of the Board / employees as required to form a quorum under the Company's articles of association. All valid proxy votes and voting instructions (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting.
Resolution 6
The Board notes the level of votes cast against Resolution 6, the re-election of Edward Bonham Carter, which received 79.63% approval. This is primarily driven by the votes from a small number of institutional shareholders. We will engage with the shareholders who voted against Edward's re-election to understand what is causing the concern and will report in due course.
The Board strongly supports Edward's re-appointment to the Board. Edward has attended 100% of Board and Committee meetings over the last year and has dedicated additional time to contribute towards the appointment of the Company's new CEO. The Board is therefore confident that Edward is able to continue to make an effective contribution to the Company's Board and its Committees. The Nomination Committee carefully monitors all directors' external time commitments and would take appropriate action should concerns be identified.
Special business resolutions
In accordance with Listing Rule 9.6.2, copies of the resolutions passed as special business will shortly be available for inspection on the National Storage Mechanism at https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism
A copy of the voting results shown above is also available on the Company's website at https://landsec.com/investors/shareholders-equity-investors/annual-general-meeting
END
For further information, please contact:
Land Securities Group PLC
Tim Ashby
Group General Counsel & Company Secretary
Tel: +44(0) 20 7024 5256
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