REG - Town Centre Secs. - Results of the AGM and Directorate Change
RNS Number : 0628ITown Centre Securities PLC21 November 201821 November 2018
Town Centre Securities PLC
(The 'Group' or the 'Company')Results of the AGM
And
Directorate Change
The Directors of Town Centre Securities are pleased to announce that at it's Annual General Meeting held on Tuesday 20 November 2018, all of the proposed resolutions as set out in the Notice of Annual General Meeting were passed on a show of hands. Proxy votes were received from shareholders by the Company in advance of the meeting as set out below:
Resolution
Votes for
%
Votes against
%
Total shares for and against
% of total voting rights *
Votes withheld **
1
Receive and adopt the financial statements for the financial year ended 30 June 2018
35,141,753
97.12%
1,043,516
2.88%
36,185,269
68.07%
28
2
Approve the Directors' Remuneration Report (excluding Directors' Remuneration Policy) for the financial year ended 30 June 2018
33,378,652
92.29%
2,789,409
7.71%
36,168,061
68.03%
17,236
3
Declare the final cash dividend recommended by the Board
36,181,270
100.00%
0
0.00%
36,181,270
68.06%
4,028
4
Re-elect P Huberman as a non-executive Director
35,829,633
99.02%
355,637
0.98%
36,185,270
68.07%
28
5
Elect J Collins as a non-executive Director
36,185,270
100.00%
0
0.00%
36,185,270
68.07%
28
6
Re-elect B Ziff as an Executive Director
36,182,436
99.99%
134
0.01%
36,182,570
68.06%
2,728
7
Elect L Shillaw as Director
36,178,770
100.00%
0
0.00%
36,178,770
68.05%
6,528
8
Re-appoint BDO as auditors of the Company
35,133,897
99.98%
6,431
0.02%
35,140,328
66.10%
1,044,969
9
Authorise the Directors to determine the remuneration of the auditor
36,183,422
99.99%
1,848
0.01%
36,185,270
68.07%
28
10
Authorise the Directors to make political donations
29,669,189
98.74%
379,068
1.26%
30,048,257
56.52%
6,137,041
11
Authorise the Board to allot shares
35,125,153
99.95%
19,183
0.05%
35,144,336
66.11%
1,040,961
12
Authorise the Directors to allot shares otherwise than on a pre-emptive basis - general
35,765,185
98.84%
420,085
1.16%
36,185,270
68.07%
28
13
Authorise the Directors to disapply pre-emption rights for purposes of acquisitions or capital investments
34,731,442
95.99%
1,451,543
4.01%
36,182,985
68.06%
2,312
14
Authorise to purchase Company's own shares
35,125,599
97.07%
1,059,670
2.93%
36,185,269
68.07%
28
15
Authorise the convening of general meetings on 14 clear days' notice
35,933,390
99.30%
251,880
0.70%
36,185,270
68.07%
28
Resolutions 4 and 5 - Excluding controlling shareholder votesResolution
Votes for
%
Votes against
%
Total shares for and against
% of total voting rights *
Votes withheld **
4
Re-elect P Huberman as a non-executive Director
8,525,301
96.00%
355,637
4.00%
8,880,938
34.35%
28
5
Elect J Collins as a non-executive Director
8,880,938
100.00%
0
0.00%
8,880,938
34.35%
28
* As at the date of the Annual General Meeting, the total number of shares with voting rights in the Company is 53,161,950.
** A 'vote withheld' is not a vote in law and cannot be counted in the calculation of the votes for and against a resolution
The Directors note the fact, when excluding controlling shareholder votes, that the proportion of shareholders voting to pass resolution 2 was 68.5%. The Directors intend to fully understand the concerns of shareholders who voted against this resolution and consider whether to initiate any changes to its policies as a result.
The Company also announces that Richard Lewis, the Company's Property Director retired from the Board at the Annual General Meeting, and that Richard's replacement Lynda Shillaw was duly elected to the Board by shareholders.
Edward Ziff, Chairman and Chief Executive, said:
"On behalf of the Board, I would like to personally thank Richard Lewis for his long-standing commitment to Town Centre Securities. Richard's contribution has been invaluable, notably with some of our most significant schemes, beginning with the construction and sale of No1 Whitehall Riverside in Leeds, the continued development of Piccadilly Basin in Manchester, and most recently the re-development of Merrion House in Leeds. We wish Richard a long, happy, and healthy retirement."
"We are delighted that someone with the calibre and reputation of Lynda Shillaw has joined Town Centre Securities. We believe that Lynda's breadth of investment and development experience, combined with her past involvement in real estate financing will be invaluable as we embark on the next stage of the Company's growth, including undertaking the most significant development pipeline in TCS's history."
ENDS
For further information, please contact:
Town Centre Securities PLC www.tcs-plc.co.uk / @TCS PLC
Edward Ziff, Chairman and Chief Executive 0113 222 1234
Mark Dilley, Group Finance Director
MHP Communications 020 3128 8572 / 8742
Reg Hoare / Alistair de Kare-Silver tcs@mhpc.com
Notes to Editors:
Town Centre Securities PLC (TCS) is a Leeds, Manchester, Glasgow and London based property investment and car parking operator with assets of over £400m. With more than 50 years' experience, a commitment to sustainable development and a reputation for quality and innovation, TCS create mixed use developments close to transport hubs in major cities across the UK. Their current portfolio delivers an annual income of more than £30m.
For more information visit www.tcs-plc.co.uk
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