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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 | 0.00% | 131.30 | 130.80 | 131.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
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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