Local Shopping REIT (The) PLC Result of General Meeting (3390R)

TIDMLSR

RNS Number : 3390R

Local Shopping REIT (The) PLC

08 December 2016

The Local Shopping REIT plc ("the Company" or "LSR")

Results of General Meeting held on 8 December 2016

The Local Shopping REIT plc announces that the results of the resolutions considered at the General Meeting of the Company held on 8 December 2016 were as set out below.

Resolutions proposed by Thalassa Holdings Ltd ("Thalassa"):

 
 Resolution                 For                   Against               Total        Total     No. of 
                                                                         votes        votes     Votes 
                                                                         validly      cast      Withheld 
                                                                         cast*        as 
                                                                                      % of 
                                                                                      shares 
                                                                                      in 
                                                                                      issue 
-------------------------  --------------------  --------------------  -----------  --------  ----------- 
                            No. of       % of     No. of       % of 
                             Votes        votes    Votes        votes 
                                          cast                  cast 
    ---------------------  -----------  -------  -----------  -------  -----------  --------  ----------- 
     Remove Stephen 
      East as a director 
 1    of the Company           597,597     1.50   39,268,887    98.50   39,866,484     48.32   19,701,218 
    ---------------------  -----------  -------  -----------  -------  -----------  --------  ----------- 
     Remove Nicholas 
      Vetch as a director 
 2    of the Company           597,597     1.50   39,268,887    98.50   39,866,484     48.32   19,701,218 
    ---------------------  -----------  -------  -----------  -------  -----------  --------  ----------- 
     Appoint Duncan 
      Soukup as a 
      director of 
 3    the Company              597,597     1.50   39,268,087    98.50   39,865,684     48.32   19,702,018 
    ---------------------  -----------  -------  -----------  -------  -----------  --------  ----------- 
     Appoint John 
      Hutchinson as 
      a director of 
 4    the Company           20,088,815    33.87   39,228,087    66.13   59,316,902     71.89      250,800 
    ---------------------  -----------  -------  -----------  -------  -----------  --------  ----------- 
     Appoint Toby 
      Burgess as a 
      director of 
 5    the Company              598,397     1.50   39,268,087    98.50   39,866,484     48.32   19,701,218 
    ---------------------  -----------  -------  -----------  -------  -----------  --------  ----------- 
 

Resolution proposed by the Board of the Company:

 
 Resolution               For                   Against               Total        Total        No. 
                                                                       votes        votes        of Votes 
                                                                       validly      cast         Withheld 
                                                                       cast*        as % 
                                                                                    of shares 
                                                                                    in issue 
-----------------------  --------------------  --------------------  -----------  -----------  ---------- 
                          No. of       % of     No. of       % of 
                           Votes        votes    Votes        votes 
                                        cast                  cast 
    -------------------  -----------  -------  -----------  -------  -----------  -----------  ---------- 
     Reduce the minimum 
      size of the 
      Company's Board 
      to two Directors 
      as permitted 
      by article 116 
      of the Company's 
      articles of 
 6    association         37,389,981    63.14   21,825,477    36.86   59,215,458        71.77     352,244 
    -------------------  -----------  -------  -----------  -------  -----------  -----------  ---------- 
 
 

*Excluding votes withheld.

All resolutions were voted on by poll. As at 6:30pm on 6 December 2016, being the record date for the General Meeting, the total number of shares in issue (excluding shares held in treasury) was 82,505,853.

LSR's Chairman, Stephen East, commented:

"Excluding the voting of its own shares, Thalassa has received less than 2% of votes polled in favour of its resolutions. This process has frustratingly resulted in unnecessary expense for LSR shareholders, which will be recognised in the current accounting period. The Board of LSR is grateful to the overwhelming majority of its shareholders for their support and will set out its roadmap for the completion of the Company's strategic plan in our annual results statement, which will be published on 12 December 2016. In the meantime, the Board will continue to act in the best interests of all shareholders, including Thalassa, and prosecute its plans as expeditiously and sensibly as possible."

The results of the General Meeting will also be made available on the Company's website: www.localshoppingreit.co.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 08, 2016 06:31 ET (11:31 GMT)