REG - Mountview Estates. - Result of AGM

Mountview Estates P.L.C.Announcement

10/08/2022 13:30

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RNS Number : 5986V  Mountview Estates PLC  10 August 2022

FOR IMMEDIATE RELEASE - 10 August 2022

MOUNTVIEW ESTATES P.L.C.

 

 

Mountview Estates P.L.C.

("Mountview" or "the Company")

 

Result of Annual General Meeting

 

Mountview Estates P.L.C. announces the results of the voting on the
resolutions at the Annual General Meeting held on 10 August 2022. A poll was
held on each of the Resolutions. Resolutions 1 to 11 were passed by the
requisite majority.

 

All the Poll results of are set out below:

 

 Resolution                                                                    Votes for  %      Votes against  %             Votes total  % of issued share capital     Votes withheld (Note)
 1. to receive and adopt the Annual Report and Accounts for the year ended 31  2,966,851  98.07  58,407         1.93          3,025,258    77.59                         0
 March 2022.
 2. to declare a final dividend of 250 pence per share.                        2,966,851  98.07  58,407         1.93          3,025,258    77.59                         0
 3. to re-elect Mrs M. M. Bray as a director of the Company.                   2,963,321  97.95  61,937         2.05          3,025,258    77.59                         0
 4. to re-elect Mr D. M. Sinclair as a director of the Company.                2,948,531  97.46  76,727         2.54          3,025,258    77.59                         0
 5. to re-elect Ms M. L. Archibald as a director of the Company.               2,027,652  67.03  997,266        32.97         3,024,918    77.58                         340
 6. to re-elect Mr A. W. Powell as a director of the Company.                  1,967,572  65.43  1,039,430      34.57         3,007,002    77.12                         18,256
 7. to re-elect Dr A. R. Williams as a director of the Company.                1,968,483  94.31  118,737        5.69          2,087,220    53.53                         938,038
 8.  to approve the Directors' Remuneration Report.                            2,027,837  67.03  997,421               32.97  3,025,258                   77.59          0
 9. to approve the Directors' Remuneration Policy.                             2,027,587  67.02  997,671               32.98  3,025,258                   77.59          0
 10.  to re-appoint BSG Valentine (UK) LLP as Auditors of the Company.         2,028,503  67.05  996,755               32.95  3,025,258                   77.59          0
 11.  to authorise the Directors to determine the Auditors' remuneration.      2,966,761  98.07  58,497                1.93   3,025,258                   77.59          0

 Independent Resolutions:

 12. to re-elect Ms M. L. Archibald as a director of the Company.              338,618    25.35  997,266               74.65  1,335,884                   34.26          14,845
 13. to re-elect Mr A. W. Powell as a director of the Company.                 278,538    21.13  1,039,430             78.87  1,317,968                   33.80          32,761

 

Note: A 'vote withheld' is not a vote under English law and is not counted in
the calculation of votes 'for' or 'against' a resolution.

 

The Directors note that while a significant majority of shareholders that
voted at the Annual General Meeting supported Resolutions 5, 6, 8, 9 and 10,
we are disappointed that a notable number of shareholders opposed these
Resolutions.  The Directors intend to engage with shareholders to obtain
feedback on their concerns and will publish an update on that engagement
within six months of the date of the Annual General Meeting.

 

The Company is also disappointed to note that Resolutions 12 and 13, to
re-elect Mhairi Archibald and Tony Powell as Directors of the Company, were
not approved by a majority of the Company's independent shareholders.  The
Company is entitled, in accordance with the FCA's Listing Rules, to convene a
general meeting (to be held within 90 and 120 days of today's date) at which
resolutions may be put to the meeting to re-appoint Mhairi Archibald and Tony
Powell as Directors of the Company.

 

A further announcement will be made in due course.

 

As as the date of the Annual General Meeting, the Company's issued share
capital was 3,899,014 ordinary shares carrying one vote each.

 

~Ends~

 

For further information on the Company, visit: www.mountviewplc.co.uk
(http://www.mountviewplc.co.uk)

 

 SPARK Advisory Partners Limited (Financial Adviser)  www.sparkadvisorypartners.com (http://www.sparkadvisorypartners.com)
 Mark Brady - 020 3368 3550

 

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