REG - Triple Point Soc.Hsg - Result of Annual General Meeting

Triple Point Social Housing REITAnnouncement

16/05/2024 17:00

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RNS Number : 7982O  Triple Point Social Housing REIT  16 May 2024

16 May 2024

 

TRIPLE POINT SOCIAL HOUSING REIT PLC

(the "Company" or, together with its subsidiaries, the "Group")

 

RESULT OF ANNUAL GENERAL MEETING

 

The Board of Triple Point Social Housing REIT plc is pleased to announce that,
at the Company's Annual General Meeting held today, all resolutions were voted
on by way of a poll and were passed by shareholders.

 

The Board would like to thank shareholders for their engagement and support
ahead of the AGM and throughout the year. Whilst all resolutions were passed
with a requisite majority, the Board acknowledges that resolutions 4, 5, 6, 7
and 14 received a meaningful proportion of shareholder votes that did not
support them.

 

Resolutions 1 to 12 were proposed as ordinary resolutions and resolutions 13
to 16 were proposed as special resolutions. The results of the poll are set
out below.

 

 Resolution                                                                             Votes For    %      Votes Against  %      Total votes validly cast  Total votes cast as % of issued share capital*  Votes Withheld**
 1       To receive and adopt the Annual Report and accounts of the Company for the     198,534,274  98.30  3,428,912      1.70   201,963,186               51.33                                           327,461
         year ended 31 December 2023
 2       To approve the Directors' Remuneration Report                                  188,537,316  93.28  13,574,333     6.72   202,111,649               51.37                                           178,998
 3       To approve the Directors' Remuneration Policy                                  168,110,256  92.49  13,653,502     7.51   181,763,758               46.20                                           20,526,889
 4       To re-elect Christopher Phillips as a Director of the Company                  158,098,747  81.36  36,229,594     18.64  194,328,341               49.39                                           7,962,306
 5       To re-elect Ian Reeves CBE as a Director of the Company                        158,164,775  81.39  36,163,566     18.61  194,328,341               49.39                                           7,962,306
 6       To re-elect Peter Coward as a Director of the Company                          158,178,586  81.40  36,149,755     18.60  194,328,341               49.39                                           7,962,306
 7       To re-elect Tracey Fletcher-Ray as a Director of the Company                   158,164,626  81.39  36,163,715     18.61  194,328,341               49.39                                           7,962,306
 8       To re-elect Cecily Davis as a Director of the Company                          189,182,670  97.35  5,145,671      2.65   194,328,341               49.39                                           7,962,306
 9       To re-appoint BDO LLP as Auditors of the Company                               198,783,576  98.28  3,474,926      1.72   202,258,502               51.40                                           32,145
 10      To authorise the Audit Committee to determine the Auditors' remuneration       198,626,832  98.27  3,491,817      1.73   202,118,649               51.37                                           171,998
 11      To authorise the Directors to allot shares                                     188,397,007  93.15  13,844,072     6.85   202,241,079               51.40                                           49,568
 12      To authorise the Directors to declare and pay all dividends of the Company as  198,683,971  98.24  3,563,651      1.76   202,247,622               51.40                                           43,025
         interim dividends
 13      To dis-apply statutory pre-emption rights up to 5%                             190,607,983  94.24  11,639,639     5.76   202,247,622               51.40                                           43,025
 14      To dis-apply pre-emption rights up to a further 5% in connection with an       159,589,788  78.91  42,657,834     21.09  202,247,622               51.40                                           43,025
         acquisition or specified capital investment
 15      To authorise the Company to purchase its own shares                            198,553,132  98.17  3,694,490      1.83   202,247,622               51.40                                           43,025
 16      To authorise the calling of general meetings, other than an annual general     194,129,973  95.98  8,140,829      4.02   202,270,802               51.41                                           19,845
         meeting, on not less than 14 clear days' notice

 

*Excluding treasury shares.

**A vote withheld is not a vote in law and is not counted in the calculation
of the votes for or against a resolution.

 

The Board notes that resolution 14 adheres to the recommendation of the
Investment Association, representing the institutional investment community,
which supports the Pre-Emption Group's Statement of Principles for the
disapplication of pre-emption rights for an additional 5% authority, if used
only for the purposes of financing (or re-financing) a transaction which the
Board determines to be an acquisition or other capital investment of a kind
contemplated by the Statement of Principles. The Board considers the
flexibility afforded by this additional pre-emption rights authority to be in
the best interests of the Company and reflective of UK listed company market
practice.

 

The Board remains committed to shareholder engagement and, in accordance with
Provision 5.2.4 of the AIC Code of Corporate Governance (the "Code"), the
Board will consult and continue to engage with shareholders, including in
relation to resolutions 4, 5, 6 and 7, in order to fully understand and
discuss their concerns. An update will be provided within six months of the
AGM, in accordance with the Code, with a final summary to be included in the
Company's Annual Report & Accounts for the year ended 31 December 2024.

 

Every shareholder has one vote for every Ordinary Share held. As at 14 May
2024, the issued share capital of the Company consisted of 393,916,490
Ordinary Shares. The Company holds 450,000 Ordinary Shares in treasury, which
do not carry voting rights. Therefore, the total voting number of voting
rights in the Company is 393,466,490 Ordinary Shares.

 

The full text of all the resolutions can be found in the Notice of Annual
General Meeting dated 7 March 2024, a copy of which is available on the
Company's website at https://www.triplepointreit.com/investors/72/
(https://www.triplepointreit.com/investors/72/) .

In accordance with Listing Rule 9.6.2 copies of all the resolutions passed,
other than ordinary business, will be submitted to the National Storage
Mechanism and will shortly be available for inspection at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

 Triple Point Investment Management LLP                 Tel: 020 7201 8989

 (Investment Manager)
 Max Shenkman
 Isobel Gunn-Brown

 Akur Capital (Joint Financial Adviser)                 Tel: 020 7493 3631
 Tom Frost
 Anthony Richardson
 Siobhan Sergeant

 Stifel (Joint Financial Adviser and Corporate Broker)  Tel: 020 7710 7600
 Mark Young
 Rajpal Padam
 Madison Kominski

 Brunswick Group (Financial PR Adviser)                 Tel: 020 7404 5959
 Nina Coad
 Robin Wrench
 Mara James

 

The Company's LEI is 213800BERVBS2HFTBC58.

 

Further information on the Company can be found on its website at
www.triplepointreit.com (http://www.triplepointreit.com/) .

 

NOTES:

 

The Company invests in primarily newly developed social housing assets in the
UK, with a particular focus on supported housing. The majority of the assets
within the portfolio are subject to inflation-linked, long-term, Fully
Repairing and Insuring ("FRI") leases with Approved Providers (being Housing
Associations, Local Authorities or other regulated organisations in receipt of
direct payment from local government). The portfolio comprises investments
into properties which are already subject to a lease with an Approved
Provider, as well as forward funding of pre-let developments but does not
include any direct development or speculative development.

 

The Company was admitted to trading on the Specialist Fund Segment of the Main
Market of the London Stock Exchange on 8 August 2017 and was admitted to the
premium segment of the Official List of the Financial Conduct Authority and
migrated to trading on the premium segment of the Main Market on 27 March
2018.  The Company operates as a UK Real Estate Investment Trust ("REIT") and
is a constituent of the FTSE EPRA/NAREIT index.

 

 

 

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