Ground Rents Income Fund PLC Result of AGM (1949U)

TIDMGRIO

RNS Number : 1949U

Ground Rents Income Fund PLC

31 March 2021

31 March 2021

Annual General Meeting

Ground Rents Income Fund plc (the "Company") announces that a poll was held on each of the resolutions proposed at the Annual General Meeting ("AGM") on Wednesday, 31 March 2021. All the resolutions passed. The results of the poll are:

 
              Resolution               For         %       Against       %     Withheld    Total % of Voting Capital 
                                                                                           voted (Including Withheld) 
         To receive the Annual 
         Report and Financial 
 1            Statements            42,414,662   100.00       0          0        0                  43.65 
     ----------------------------  -----------  -------  -----------  ------  ---------  ----------------------------- 
 2     To approve the directors'    32,811,508            9,583,154    22.64    20,000               43.65 
          remuneration policy                    77.40 
     ----------------------------  -----------  -------  -----------  ------  ---------  ----------------------------- 
 3     To approve the directors'    42,386,621              8,041      0.02     20,000               43.65 
          remuneration report                    99.98 
     ----------------------------  -----------  -------  -----------  ------  ---------  ----------------------------- 
 4     To elect Barry Gilbertson    42,412,424   99.99      2,238      0.01       0                  43.65 
     ----------------------------  -----------  -------  -----------  ------  ---------  ----------------------------- 
 5      To re-elect Paul Craig      34,338,392   80.96    8,076,270    19.07      0                  43.65 
     ----------------------------  -----------  -------  -----------  ------  ---------  ----------------------------- 
 6     To re-elect Bill Holland     34,338,392   80.96    8,076,270    19.07      0                  43.65 
     ----------------------------  -----------  -------  -----------  ------  ---------  ----------------------------- 
 7           To re-appoint          42,406,879               441       0.01     7,342                43.65 
      PricewaterhouseCoopers LLP 
              as Auditor                         100.00 
     ----------------------------  -----------  -------  -----------  ------  ---------  ----------------------------- 
 8    To give directors authority   42,409,389               441       0.01     4,832                43.65 
      to determine the auditor's 
             remuneration                        100.00 
     ----------------------------  -----------  -------  -----------  ------  ---------  ----------------------------- 
 9     To approve the Company's     42,414,221               441       0.01       0                  43.65 
            dividend policy                      100.00 
     ----------------------------  -----------  -------  -----------  ------  ---------  ----------------------------- 
 10    To increase the director     32,015,951            10,387,211   24.53    11,500               43.65 
      fee cap from GBP100,000 to 
              GBP150,000                         75.50 
     ----------------------------  -----------  -------  -----------  ------  ---------  ----------------------------- 
       To renew the authority to 
 11          allot shares           42,360,969   99.87      53,693     0.13       0                  43.65 
     ----------------------------  -----------  -------  -----------  ------  ---------  ----------------------------- 
 12     To disapply pre-emption     34,248,666            8,134,496    19.22    31,500               43.65 
      rights (special resolution)                80.81 
     ----------------------------  -----------  -------  -----------  ------  ---------  ----------------------------- 
 13    To renew the authority to    42,412,152              2,510      0.01       0                  43.65 
          purchase own shares 
         (special resolution)                    99.99 
     ----------------------------  -----------  -------  -----------  ------  ---------  ----------------------------- 
 

*Resolutions 12 and 13 were passed as special resolutions. Copies of resolutions 10, 11, 12 and 13 will be filed at Companies House.

The Board notes the significant number of votes cast against certain resolutions and will be engaging with shareholders to understand the reasons for these, the conclusions of which will be detailed in either a further RNS announcement, or in the 2021 Half Year Report.

Shareholders are entitled to one vote per share. Votes withheld are not a vote in law and are therefore not counted in the calculation of the percentages of the votes cast for and against a resolution. Where shareholders appointed the Chairman as their proxy with discretion as to voting, their votes were cast in favour of the resolutions and their shares have been included in the "votes for" column.

Please note a 'vote withheld' is not a vote under English law and is not counted in the calculation of votes 'for' or 'against' a resolution.

The total number of ordinary shares of 50p each in issue is 97,006,497. The total number of voting rights is: 97,006,497 .

A copy of the resolutions passed at today's AGM will be available for inspection on the Company's website at http://www.groundrentsincomefund.com

Enquiries:

Matthew Riley

Schroder Investment Management Limited

020 7658 6596

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 [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

RAGSDAFMFEFSESD

(END) Dow Jones Newswires

March 31, 2021 12:30 ET (16:30 GMT)