Safestore Holdings plc Result of Annual General Meeting (4905T)

TIDMSAFE

RNS Number : 4905T

Safestore Holdings plc

20 March 2019

20 March 2019

Safestore Holdings plc

("Safestore", "the Company" or "the Group")

Result of Annual General Meeting

The 2019 Annual General Meeting of Safestore Holdings plc was held at midday today at the Company's registered office in Borehamwood, Hertfordshire.

All resolutions were passed by the requisite majority by way of a poll.

Commenting on the result of the AGM Alan Lewis, Chairman of Safestore said:

"I am pleased that all resolutions were duly passed and would like to thank our shareholders for their continued support. The Board recognises however, that some shareholders continue to vote against our remuneration report and the re-election of our Remuneration Committee Chair.

Over the course of the year the Board has engaged extensively with a significant number of our large institutional shareholders and investor bodies to understand what changes to the remuneration policy and LTIP would alleviate concerns around the structure.

As a result of this consultation exercise, changes were made to the operation of our remuneration policy in line with suggestions made by shareholders and their representative bodies. This has led to a marked increase in support for our remuneration report. We will continue to engage with shareholders on remuneration and governance matters and are committed to consulting on an on-going basis regarding the formation of the next remuneration policy and LTIP this summer.

The financial results for the year ended 31 October 2018 were a continuation of the strong performance of the business since 2013, when the current team took over the management of Safestore, and we look forward to delivering further shareholder value."

The following votes were cast in respect of the AGM resolutions:

 
           Ordinary           Votes         %        Votes        %            Votes           % of     Votes Withheld 
          Resolution           For                   Against              Total (excluding    Issued 
                                                                             withheld)         Share 
                                                                                              Capital 
                                                                                               Voted 
          To receive 
          the Annual 
          Report and 
 1         Accounts        165,731,295   99.99%      24,459     0.01%       165,755,754       78.93%       843,523 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
          To approve 
        the Directors' 
         Remuneration 
 2          Report         114,577,548   70.37%    48,234,542   29.63%      162,812,090       77.53%      3,787,187 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
          To appoint 
         Deloitte LLP 
 3        as auditor       165,992,528   99.71%     483,828     0.29%       166,476,356       79.27%       122,921 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
         To authorise 
         the Directors 
         to determine 
         the auditors' 
 4       remuneration      166,473,734   100.00%     2,622      0.00%       166,476,356       79.27%       122,921 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
          To declare 
       a final dividend 
        of 11.15 pence 
         per ordinary 
 5           share         166,480,320   100.00%       4        0.00%       166,480,324       79.27%       118,953 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
         To re-elect 
          Alan Lewis 
 6       as a Director     134,247,172   88.84%    16,863,960   11.16%      151,111,132       71.95%      15,488,145 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
         To re-elect 
      Frederic Vecchioli 
 7      as a Director      165,947,495   99.68%     532,244     0.32%       166,479,739       79.27%       119,538 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
         To re-elect 
          Andy Jones 
 8       as a Director     165,721,275   99.54%     758,464     0.46%       166,479,739       79.27%       119,538 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
         To re-elect 
          Ian Krieger 
             as a 
 9         Director        143,976,485   86.48%    22,503,254   13.52%      166,479,739       79.27%       119,538 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
         To re-elect 
        Joanne Kenrick 
 10      as a Director     145,096,606   87.16%    21,383,133   12.84%      166,479,739       79.27%       119,538 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
       To elect Claire 
         Balmforth as 
 11       a Director       126,775,428   76.64%    38,635,803   23.36%      165,411,231       78.76%      1,188,046 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
        To elect Bill 
          Oliver as a 
 12        Director        145,321,802   87.29%    21,157,937   12.71%      166,479,739       79.27%       119,538 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
         To authorise 
          political 
          donations 
        and political 
 13      expenditure       159,969,444   99.59%     652,164     0.41%       160,621,608       76.48%      5,977,669 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
         To authorise 
         the directors 
       to allot relevant 
 14       securities       160,164,569   96.21%    6,315,755    3.79%       166,480,324       79.27%       118,953 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
           Special 
          Resolution* 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
         To authorise 
             the 
       dis-application 
        of pre-emption 
 15         rights         165,375,964   99.81%     307,437     0.19%       165,683,401       78.89%       915,876 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
         To authorise 
       market purchases 
          of ordinary 
 16         shares         165,645,076   99.99%      23,665     0.01%       165,668,741       78.89%       939,536 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
         To authorise 
          general to 
         be called on 
         not less than 
        14 clear days' 
        notice meetings 
          other than 
        annual general 
 17        meetings        154,672,121   92.91%    11,808,203   7.09%       166,480,324       79.27%       118,953 
     -------------------  ------------  --------  -----------  -------  ------------------  ---------  --------------- 
 

*Special Resolutions requiring a 75% majority

Notes

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.

A "vote withheld" is not a vote in law and is not counted in the calculation of the percentages of votes cast for and against a resolution.

The current issued capital of Safestore Holdings plc is 210,011,217 shares.

In accordance with LR 9.6.2, copies of the resolutions passed as special business will be forwarded to the FCA for publication through the Document Viewing Facility and will be accessible via the National Storage Mechanism website at http://www.morningstar.co.uk/uk/NSM

For further information, please contact:

 
 Safestore Holdings plc 
  Helen Bramall, 
  Interim Company Secretary    020 8732 1500 
 www.safestore.com 
 
 Instinctif Partners 
  Guy Scarborough              020 7457 2020 
 

Notes to editors:

About Safestore

-- Safestore is the UK's largest self-storage group with 146 stores at 31 October 2018 comprising 119 wholly owned stores in the UK (including 67 in London and the South East with the remainder in key metropolitan areas such as Manchester, Birmingham, Glasgow, Edinburgh, Liverpool and Bristol) and 27 wholly owned stores in the Paris region.

-- Safestore operates more self-storage sites inside the M25 and in central Paris than any competitor providing more proximity to customers in the wealthiest and densest UK and French markets.

-- Safestore was founded in the UK in 1998. It acquired the French business "Une Pièce en Plus" ("UPP") in 2004 which was founded in 1998 by the current Safestore Group CEO Frederic Vecchioli.

-- Safestore has been listed on the London Stock Exchange since 2007. It entered the FTSE 250 index in October 2015.

   --      Safestore employs around 650 people in the UK and France. 

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March 20, 2019 11:45 ET (15:45 GMT)