REG - Mountview Estates. - Result of AGM

Mountview Estates P.L.C.Announcement

09/08/2023 13:30

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RNS Number : 8337I  Mountview Estates PLC  09 August 2023

FOR IMMEDIATE RELEASE - 9 August 2023

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 9 August 2023. 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 consider the Annual Report and Accounts for the year ended  3,273,506  99.99%  100            0.01%          3,273,606    83.96%                     0
 31 March 2023.
 2. to declare a final dividend of 250 pence per share.                        3,273,506  99.99%  100            0.01%          3,273,606    83.96%                     0
 3. to re-elect Mrs M. M. Bray as a director of the Company.                   2,992,042  91.40%  281,453        8.60%          3,273,495    83.96%                     111
 4. to re-elect Mr D. M. Sinclair as a director of the Company.                2,990,937  91.40%  281,453        8.60%          3,272,390    83.93%                     1,216
 5. to re-elect Ms M. L. Archibald as a director of the Company.               2,051,746  62.70%  1,220,455      37.30%         3,272,201    83.92%                     1,405
 6. to re-elect Mr A. W. Powell as a director of the Company.                  2,027,835  62.43%  1,220,155      37.57%         3,247,990    83.30%                     25,616
 7. to re-elect Dr A. R. Williams as a director of the Company.                2,308,898  98.93%  24,901         1.07%          2,333,799    59.86%                     939,807
 8.  to approve the Directors' Remuneration Report.                            2,309,748  70.57%  963,394               29.43%               83.95%                     464

                                                                                                                                3,273,142

 9.  to re-appoint BSG Valentine (UK) LLP as Auditors of the Company.          2,334,454  71.31%  939,152               28.69%  3,273,606    83.96%                     0
 10.  to authorise the Directors to determine the Auditors' remuneration.      2,992,782  91.42%  280,824               8.58%   3,273,606    83.96%                     0

 Independent Resolutions:

 11. to re-elect Ms M. L. Archibald as a director of the Company.              238,043    16.32%  1,220,455             83.68%  1,458,498    37.41%                     1,405
 12. to re-elect Mr A. W. Powell as a director of the Company.                 214,132    14.93%  1,220,155             85.07%  1,434,287    36.79%                     25,616

 

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, and 9, 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 11 and 12, 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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