Share Name Share Symbol Market Type Share ISIN Share Description
Foxtons Group Plc LSE:FOXT London Ordinary Share GB00BCKFY513 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +1.60p +2.84% 57.90p 57.50p 58.30p 60.10p 58.30p 60.10p 214,271 16:35:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate 111.5 -17.2 -6.3 - 159

Foxtons Group PLC Result of AGM

20/05/2019 6:18pm

UK Regulatory (RNS & others)


Foxtons (LSE:FOXT)
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RNS Number : 6193Z

Foxtons Group PLC

20 May 2019

Foxtons Group plc

(the "Company")

20 May 2019

Annual General Meeting ("AGM") Results

The Company announces that at its Annual General Meeting held earlier today all the resolutions set out in the Notice of Annual General Meeting were passed by the requisite majority. Each of the resolutions put to the AGM was voted on by way of a poll. The results of the poll for each resolution were as follows:

 
Resolution                         For          For        Against       Against   Votes Withheld    Total issued 
 * indicates Special          (No. of shares)    (%)    (No. of shares)    (%)     (No. of shares)   share capital 
 Resolution                                                                                           instructed 
  1. To receive the 
   Annual Report and 
   Accounts.                 229,696,433       100.00  1,500             0.00     468,819           229,697,933 
  2. To approve the 
   Annual Statement 
   from the Remuneration 
   Chairman and the 
   Remuneration Report       179,445,331       78.37   49,531,967        21.63    1,189,454         228,977,298 
  3. To re-elect Ian 
   Barlow as a Director.     226,253,630       98.30   3,911,622         1.70     1,500             230,165,252 
  4. To re-elect Mark 
   Berry as a Director.      230,138,321       99.99   28,431            0.01     0                 230,166,752 
  5. To re-elect Nicholas 
   Budden as a Director.     230,165,252       100.00  0                 0.00     1,500             230,165,252 
  6. To re-elect Sheena 
   Mackay as a Director      220,002,839       95.58   10,163,913        4.42     0                 230,166,752 
  7. To re-elect Garry 
   Watts as a Director.      226,253,630       98.30   3,911,622         1.70     1,500             230,165,252 
  8. To re-appoint 
   Deloitte LLP as 
   auditors of the 
   Company.                  230,166,752       100.00  0                 0.00     0                 230,166,752 
  9. To authorise 
   the Audit Committee 
   to determine the 
   auditors' remuneration.   230,166,752       100.00  0                 0.00     0                 230,166,752 
  10. To authorise 
   the Company to make 
   political donations.      229,058,353       99.52   1,108,281         0.48     118               230,166,634 
  11. To authorise 
   the Directors to 
   allot ordinary shares.    218,114,033       94.76   12,052,719        5.24     0                 230,166,752 
  12. To disapply 
   pre-emption rights.*      230,166,752       100.00  0                 0.00     0                 230,166,752 
  13. To authorise 
   the Company to purchase 
   its own ordinary 
   shares.*                  230,165,752       100.00  1,000             0.00     0                 230,166,752 
  14. To authorise 
   the Directors to 
   hold general meetings 
   on not less than 
   14 clear days' notice.*   228,204,877       99.15   1,961,875         0.85     0                 230,166,752 
 
 

*Special Resolution

Statement regarding voting result

The Board of Foxtons Group plc notes that while a significant majority of Shareholders that voted at today's Annual General Meeting supported Resolution 2 to approve the Directors' Remuneration Report, a notable number of Shareholders opposed this resolution. All other resolutions received substantial support.

The Board acknowledges the concerns raised by Shareholders in particular regarding the FY2018 bonus outcomes. As stated in our Annual Report, the Committee will be conducting a detailed review of the Remuneration Policy later this year, which will be submitted for Shareholders' approval at the 2020 AGM. As part of this review, we will take into account the changes in the UK Corporate Governance Code along with shareholder and UK remuneration governance guidelines.

In line with our commitment to maintaining an open and transparent dialogue with Shareholders, we will be consulting with all major Shareholders in the second half of 2019 to gain their input in this review. We will also consult further on the concerns raised on this resolution and in accordance with the UK Corporate Governance Code, we will publish an update on that engagement within six months of the AGM.

 
 NOTES: 
 1.                                     All resolutions were passed. 
                                       ------------------------------------------------------------- 
 2.                                     Proxy appointments which gave discretion to 
                                         the Chairman of the AGM have been included 
                                         in the "For" total for the appropriate resolution. 
                                       ------------------------------------------------------------- 
 3.                                     Votes "For" and "Against" any resolution are 
                                         expressed as a percentage of votes validly 
                                         cast for that resolution. 
                                       ------------------------------------------------------------- 
 4.                                     A "Vote withheld" is not a vote in law and 
                                         is not counted in the calculation of the percentage 
                                         of shares voted "For" or "Against" any resolution 
                                         nor in the calculation of the proportion of 
                                         "Total issued share capital instructed" for 
                                         any resolution. 
                                       ------------------------------------------------------------- 
 5.                                     The number of shares in issue at close of business 
                                         on 16 May 2019 was 275,104,391 (the "Share 
                                         Capital") and at that time, the Company did 
                                         not hold any shares in treasury. 
                                       ------------------------------------------------------------- 
 6.                                     The proportion of "Total issued share capital 
                                         instructed" for any resolution is the total 
                                         of votes validly cast for that resolution (i.e. 
                                         the total votes "For" and "Against" that resolution). 
                                       ------------------------------------------------------------- 
 7.                                     The full text of the resolutions passed at 
                                         the AGM can be found in the Notice of Annual 
                                         General Meeting which is available on the Company's 
                                         website at www.foxtonsgroup.co.uk. 
                                       ------------------------------------------------------------- 
 8.                                     A copy of resolutions 11 to 14 passed at the 
                                         AGM will shortly be submitted to the National 
                                         Storage Mechanism and will be available for 
                                         inspection at www.morningstar.co.uk/uk/NSM. 
                                       ------------------------------------------------------------- 
 9.                                     The complete poll results will be available 
                                         shortly on the Company's website at www.foxtonsgroup.co.uk 
                                       ------------------------------------------------------------- 
  For further information please 
   contact: 
                                        ------------------------------------------------------------ 
 Foxtons Investor Relations 
                                        ------------------------------------------------------------ 
 Muhammed Patel                          Tel: 020 7893 6261 
                                          investor@foxtonsgroup.co.uk 
                                        ------------------------------------------------------------ 
 Foxtons Group plc 
                                        ------------------------------------------------------------ 
 Nic Budden, Chief Executive 
  Officer 
  Mark Berry, Chief Financial 
  Officer 
  Muhammed Patel, Investor Relations     +44 20 7893 6261 
                                        ------------------------------------------------------------ 
 
 
LEI: 5493001HCMG6R1MYKC59 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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May 20, 2019 13:18 ET (17:18 GMT)

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