Civitas Social Housing PLC Result of AGM (3931Y)

TIDMCSH

RNS Number : 3931Y

Civitas Social Housing PLC

08 September 2020

CIVITAS SOCIAL HOUSING PLC

(the "Company")

Result of Annual General Meeting

The Company is pleased to announce that at the Annual General Meeting ("AGM") held today, all resolutions were passed on a poll.

Resolutions 1 to 11 and 15 were proposed as Ordinary Resolutions. Resolutions 12 to 14 and 16 were proposed as Special Resolutions.

The total number of proxy votes received in relation to each resolution were as follows:

 
 Resolutions          Votes         %   Votes Against   % Against            Votes       Votes 
                        For       For                                at Chairman's    Withheld 
                                                                        Discretion 
 Resolution 
  1             306,937,208   100.00%             250       0.00%          100,598     408,015 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  2             307,301,157   9 9.99%          33,515       0.01%          100,598      10,801 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  3             307,335,840   100.00%           4,250       0.00%          100,598       5,383 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  4             306,613,225   9 9.76%         726,865       0.24%          100,598       5,383 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  5             306,613,225    99.76%         726,865       0.24%          100,598       5,383 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  6             305,959,463    99.55%       1,380,627       0.45%          100,598       5,383 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  7             306,613,225    99.76%         726,865       0.24%          100,598       5,383 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  8             307,301,310    99.99%          33,064       0.01%          100,598      11,099 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  9             307,244,359    99.97%          96,715       0.03%          100,598       4,399 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  10            307,345,223   100.00%             250       0.00%          100,598           0 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  11            307,340,824   100.00%             250       0.00%          100,598       4,399 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  12            283,970,561    94.40%      16,834,289       5.60%          100,598   6,540,622 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  13            253,171,081    82.40%      54,077,926      17.60%          100,598      96,465 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  14            296,279,879    96.40%      11,056,812       3.60%          100,598       8,782 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  15            307,336,840   100.00%           8,633       0.00%          100,598           0 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 Resolution 
  16            307,332,441   100.00%           4,250       0.00%          100,598       8,782 
               ------------  --------  --------------  ----------  ---------------  ---------- 
 

The Board notes that votes representing 17.6% of total votes cast were received against the market standard 14.99% share buyback resolution, following the recommendation of Pensions and Investment Research Consultants Limited ("PIRC"), a proxy adviser.

The UK Corporate Governance Code (the "UK Code") notes that where a significant proportion of votes have been cast against a resolution at a general meeting, a company should explain what actions it has taken to understand the reasons behind the vote. The Company, via their corporate broker, have spoken to the largest shareholders who voted against this resolution and those shareholders remain in favour of the Company's approach to buybacks, in spite of PIRC's recommendation to vote against this resolution.

A copy of the full text of Resolutions 11 to 16 will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

LEI: 213800PGBG84J8GM6F95

For further information, please contact:

 
 Civitas Investment Management Limited 
 Paul Bridge              Tel: [phone] 
 Andrew Dawber            Tel: [phone] 
 
 Panmure Gordon 
 Sapna Shah               Tel: [phone] 
 Tom Scrivens             Tel: [phone] 
 
 Liberum Capital Limited 
 Gillian Martin / Chris   Tel: [phone] 
  Clarke 
 
 Buchanan 
 Helen Tarbet / Henry     Tel: [phone] 
  Wilson 
 

Notes:

Civitas Social Housing PLC (CSH) was created in 2016 by Civitas Investment Management Limited as the first dedicated London listed REIT, to raise long-term, sustainable, institutional capital to invest in care-based social homes and healthcare facilities across the UK. So far, CSH has completed more than 120 individual transactions to build the largest portfolio of its kind that has been independently valued at GBP885 million (as at 30 June 2020). CSH provides homes for 4,292 working age adults with long-term care needs, in 618 bespoke properties that are supported by 118 specialist care providers, 15 housing associations over 164 individual local authority areas.

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September 08, 2020 12:45 ET (16:45 GMT)