REG - Target H'care REIT - Result of AGM

Target Healthcare ReitAnnouncement

03/12/2020 07:02

RNS Number : 3516H
  
Target Healthcare REIT PLC
  
03 December 2020
  
 

To:                   RNS
From:               Target Healthcare REIT plc
LEI:                  213800RXPY9WULUSBC04
Date:                3 December 2020
Subject:            Annual General Meeting Result
 
 
Target Healthcare REIT plc announces that, at the Annual General Meeting held on 2 December 2020, all resolutions proposed were duly passed.
 
The full text of the resolutions can be found in the Annual Report and Financial Statements 2020 (including the Notice of Annual General Meeting), copies of which have been submitted to the National Storage Mechanism and which are available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
 
Details of the proxy votes lodged before the Annual General Meeting, which should be read alongside the Notice of Annual General Meeting, are noted below and will be available shortly at www.targethealthcarereit.co.uk
 




 


For


Against


Withheld




 


Number of votes


%


Number of votes


%


Number of votes




1) Ordinary Resolution


264,341,632


100.00


1,291


0.00


-




2) Ordinary Resolution 


260,215,271


98.83


3,090,104


1.17


1,037,548




3) Ordinary Resolution


264,329,043


100.00


1,291


0.00


12,589




4) Ordinary Resolution


253,750,161


99.99


14,165


0.01


10,578,597




5) Ordinary Resolution


264,328,830


100.00


1,504


0.00


12,589




6) Ordinary Resolution


263,281,636


99.99


24,541


0.01


1,036,746




7) Ordinary Resolution


257,576,375


97.82


5,729,589


2.18


1,036,959




8) Ordinary Resolution


263,281,636


99.99


24,541


0.01


1,036,746




9) Ordinary Resolution


263,281,423


99.99


24,541


0.01


1,036,959




10) Ordinary Resolution


263,281,423


99.99


24,754


0.01


1,036,746




11) Ordinary Resolution


263,316,486


100.00


1,291


0.00


1,025,146




12) Special Resolution


251,160,255


95.38


12,167,521


4.62


1,015,146




13) Special Resolution


263,055,177


99.91


247,425


0.09


1,040,320




14) Special Resolution


259,481,585


98.54


3,847,024


1.46


1,014,314




15) Special Resolution


207,559,554


78.56


56,642,467


21.44


140,901




 
Whilst all resolutions proposed were duly passed, the Board recognise that a significant number of votes were lodged against resolution 15, which was in relation to the amendment of the Company's Articles of Association, primarily to permit the Company to hold shareholder meetings on a virtual basis whereby shareholders are not required to attend the meeting in person at a physical location but may instead attend and participate using electronic means.
 
The Board has engaged in consultation with some shareholders who together account for a significant proportion of such votes and who have expressed concern that, in theory, the structure of virtual-only meetings can prevent meaningful shareholder engagement and allow management to more easily avoid difficult questions. In order to address such concerns, the Directors therefore confirm that, notwithstanding the permissions granted by the New Articles, they intend that the Company reverts to physical meetings as soon as the restrictions on physical gatherings are lifted and it is safe to do so. The Board re-iterates its commitment to enabling shareholder attendance at meetings wherever possible and confirms that it does not intend to restrict the ability of shareholders to physically attend a shareholder meeting, except in limited situations such as where travel or congregation in a physical location at the date of the meeting is forecast to be difficult, dangerous or otherwise restricted by government guidance or legislation.
 
The Board of Directors also announces that, pursuant to paragraph 9.6.11 R of the Listing Rules, Ms Alison Fyfe has been appointed as Chair of the Nomination Committee with immediate effect.
 
For further information please contact:       
 
Kenneth MacKenzie; Gordon Bland
Target Fund Managers Limited
01786 845 912
 
Mark Young 
Stifel Nicolaus Europe Limited
020 7710 7600
 
Dido Laurimore; Claire Turvey; Richard Gotla
FTI Consulting
020 3727 1000
TargetHealthcare@fticonsulting.com 
 
 
 
 
 
 

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