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Share Name Share Symbol Market Type Share ISIN Share Description
Capital & Counties Properties Plc LSE:CAPC London Ordinary Share GB00B62G9D36 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 168.70 168.60 168.80 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 73.0 -704.7 -82.6 - 1,436

Capital & Counties Properties Plc Result of AGM

11/05/2021 3:00pm

UK Regulatory (RNS & others)


Capital & Counties Prope... (LSE:CAPC)
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TIDMCAPC

RNS Number : 2717Y

Capital & Counties Properties Plc

11 May 2021

11 May 2021

CAPITAL & COUNTIES PROPERTIES PLC (the "Company")

RESOLUTIONS PASSED AT 2021 ANNUAL GENERAL MEETING

The results of the voting by poll on the resolutions put to the Company's 2021 Annual General Meeting held on 11 May 2021 are as follows:

 
          Resolutions               For:          %       Against:       %      Total votes     % of     Withheld: 
                                                                                   cast:       issued 
                                                                                                share 
                                                                                               capital 
 1. To receive the 
  accounts and reports 
  of the Directors 
  and the Auditors 
  for the year ended 
  31 December 2020               686,287,947   100.00%         1,409    0.00%   686,289,356     80.63%     724,463 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 2. To re-elect Henry 
  Staunton as a Director         645,053,847    94.22%    39,552,392    5.78%   684,606,239     80.44%   1,407,580 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 3. To re-elect Ian 
  Hawksworth as a 
  Director                       661,847,376    96.37%    24,918,863    3.63%   686,766,239     80.69%     247,580 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 4. To re-elect Situl 
  Jobanputra as a 
  Director                       677,542,140    98.66%     9,224,099    1.34%   686,766,239     80.69%     247,580 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 5. To re-elect Michelle 
  McGrath as a Director          678,580,698    98.81%     8,185,541    1.19%   686,766,239     80.69%     247,580 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 6. To re-elect Charlotte 
  Boyle as a Director            680,869,131    99.14%     5,897,108    0.86%   686,766,239     80.69%     247,580 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 7. To re-elect Jonathan 
  Lane as a Director             668,836,416    97.39%    17,929,823    2.61%   686,766,239     80.69%     247,580 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 8. To re-elect Anthony 
  Steains as a Director          681,922,804    99.29%     4,843,018    0.71%   686,765,822     80.69%     247,997 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 9. To re-appoint 
  PricewaterhouseCoopers 
  LLP as Auditors                613,511,097    89.33%    73,248,031   10.67%   686,759,128     80.69%     254,691 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 10. To authorise 
  the Audit Committee 
  of the Board to 
  determine the Auditors' 
  remuneration                   679,055,708    98.88%     7,712,043    1.12%   686,767,751     80.69%     246,068 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 11. To approve the 
  Directors' Remuneration 
  Report for the year 
  ended 31 December 
  2020 (other than 
  the Directors' Remuneration 
  Policy)                        641,795,381    94.12%    40,093,171    5.88%   681,888,552     80.12%   5,125,267 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 12. To authorise 
  the Directors to 
  allot the unissued 
  share capital up 
  to a specified amount 
  (s.551) (Companies 
  Act 2006)                      540,215,124    78.66%   146,544,172   21.34%   686,759,296     80.69%     254,523 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 13. Special Resolution: 
  To disapply pre-emption 
  provisions of s.561(1) 
  of the Companies 
  Act 2006 up to a 
  specified amount               566,118,795    82.43%   120,638,756   17.57%   686,757,551     80.69%     256,268 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 14. Special Resolution: 
  To authorise the 
  Company to purchase 
  its own shares                 655,487,090    95.70%    29,483,872    4.30%   684,970,962     80.48%   2,042,859 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 15. Special Resolution: 
  To allow General 
  Meetings (other 
  than AGMs) to be 
  held on 14 clear 
  days' notice                   638,371,962    92.95%    48,387,336    7.05%   686,759,298     80.69%     254,521 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 16. Special Resolution: 
  To adopt new Articles 
  of Association of 
  the Company in substitution 
  for and to the exclusion 
  of the Company's 
  existing Articles              686,763,320   100.00%         3,588    0.00%   686,766,908     80.69%     246,911 
                                ------------  --------  ------------  -------  ------------  ---------  ---------- 
 

Notes:

1. Any proxy appointments which gave discretion to the Chairman have been included in the 'for' total.

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

3. Total voting rights of shares in issue: 851,119,601. Every shareholder has one vote for every ordinary share held.

The Board notes that although resolution 12 was passed with the requisite majority, 21.34% of votes received were against the resolution. This voting outcome reflects differing market practice between the UK and South Africa, where shareholders usually approve more restricted levels of authority to issue shares, and prefer to vote on proposed allotments of shares on a case by case basis.

The Company has consulted regularly with its larger international shareholders on this matter, however many institutions operate under policies that do not permit this level of authority to be supported, although a number of our shareholders do understand the Company's position. As a UK premium listed company, the Board considers it appropriate to seek authorities in line with the Investment Association's Share Capital Management Guidelines, to allow the Company to respond to market developments and to enable allotments to take place to finance business opportunities as they arise. The Board will continue to engage with our international shareholders on this topic, however as the voting outcome reflects the difficulty in balancing the expectations of different markets, it is likely that there will continue to be significant votes against this resolution.

As announced on 15 February 2021, Jonathan Lane became Chairman of the Company's Remuneration Committee at the conclusion of the Annual General Meeting.

In accordance with paragraph 9.6.2 of the Listing Rules, copies of the resolutions passed at the meeting, other than resolutions concerning ordinary business, have been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Enquiries:

Ruth Pavey

Company Secretary

Telephone +44 20 3214 9170

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END

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May 11, 2021 10:00 ET (14:00 GMT)

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