REG - Mountview Estates. - Result of Annual General Meeting

Mountview Estates P.L.C.Announcement

12/08/2020 13:05

RNS Number : 9521V
  
Mountview Estates PLC
  
12 August 2020
  
 

FOR IMMEDIATE RELEASE - 12 August 2020
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 12 August 2020. 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 March 2020


3,068,886


100.00


0


0.00


3,068,886


78.71


0




2. to declare a final dividend of 200 pence per share


3,068,886


100.00


0


0.00


3,068,886


78.71


0




3. to re-elect Mrs M M Bray as a director of the Company


3,068,836


99.99


50


0.01


3,068,886


78.71


0




4. to re-elect Mr D M Sinclair as a director of the Company


3,068,836


99.99


50


0.01


3,068,886


78.71


0




5. to re-elect Ms M L Archibald as a director of the Company


2,130,538


69.42


938,348


30.58


3,068,886


78.71


0




6. to re-elect Mr A W Powell as a director of the Company 


2,068,123


67.29


1,003,763


32.71


3,068,886


78.71


0




7. to re-elect Dr A R Williams as a director of the Company 


2,065,423


96.93


65,465


3.07


2,130,888


54.65


937,998







 



8.    to approve the Directors' Remuneration Report


2,130,838


69.43


938,048


30.57


3,068,886


78.71


0




9.    to approve the Directors' Remuneration Policy


2,130,737


69.43


938,149


30.57


3,068,886


78.71


0




10.  to re-appoint Messrs BSG Valentine as Auditors of the Company
 


2,130,838


69.43


938,048


30.57


3,068,886


78.71


0




11.  to authorise the Directors to determine the Auditors' remuneration


3,068,836


99.99


50


0.01


3,068,886


78.71


0




 
Independent Resolutions:
 




12. to re-elect Ms M L Archibald as a director of the Company


268,364


22.24


938,348


77.76


1,206,712


30.95


0




13. to re-elect Mr A W Powell as a director of the Company


202,949


16.82


1,003,763


83.18


1,206,712


30.95


0



 
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  
 



SPARK Advisory Partners Limited (Financial Adviser)


www.sparkadvisorypartners.com  




Mark Brady - 020 3368 3551







 


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