Shaftesbury PLC Result of AGM (5459P)

TIDMSHB

RNS Number : 5459P

Shaftesbury PLC

08 February 2019

Shaftesbury PLC

Result of AGM

At the Shaftesbury PLC (the "Company") Annual General Meeting held today, 8 February 2019, the resolutions set out below (other than resolutions 19, 20 and 22) were passed by Shareholders voting on a poll.

The Company announced on 25 January 2019 that Mr Samuel Tak Lee, the ultimate beneficial owner of 26.15% of the issued share capital of the Company, had notified the Company of his intention to vote against resolutions 18, 19 and 20. In accordance with the Companies Act 2006, the Company circulated to shareholders on 29 January 2019 a copy of Mr Lee's statement regarding his voting intentions, and its response.

The Company became aware through press coverage yesterday that Mr Lee also intended to vote against resolutions 2, 3, 6, 7, 10 and 22.

At the Annual General Meeting Mr Lee voted against all these resolutions. Resolutions 2, 3, 6, 7, 10 and 18 were approved by shareholders but resolutions 19, 20 and 22 were not carried. Mr Lee's reasons for his voting stance against resolutions 18, 19 and 20 are set out in his statement. The Company has not been formally made aware of his reasons for voting against the other resolutions. As regards resolution 2, Mr Lee did not respond to the remuneration policy consultation process with shareholders in October 2018.

The Company is disappointed that Mr Lee has voted against these resolutions and will continue to attempt to engage directly with him. An update will be made in accordance with the UK Corporate Governance Code within six months of the AGM.

 
 Resolution                                    For                 Against                Total           Withheld (*) 
                                          Votes        %        Votes      %          Votes        % 
                                      ------------  -------  -----------  ------  ------------  ------- 
 1. To receive the accounts            198,627,557   100.00        5,000    0.00   198,632,557   64.62%        175,324 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 2. To approve the Remuneration 
  Policy                               197,412,262    70.76   81,571,987   29.24   278,984,249   90.76%        712,552 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 3. To approve the Annual 
  Remuneration Report                  197,983,949    70.98   80,930,767   29.02   278,914,716   90.74%        782,086 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 4. To declare a final dividend        198,716,131   100.00        5,000    0.00   198,721,131   64.65%         86,750 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 5. To elect Jennelle Tilling          198,712,500   100.00        7,034    0.00   198,719,534   64.65%         88,347 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 6. To re-elect Jonathan Nicholls      196,946,652    70.52   82,338,481   29.48   279,285,133   90.86%        411,669 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 7. To re-elect Brian Bickell          197,816,643    70.75   81,790,812   29.25   279,607,455   90.96%         89,347 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 8. To re-elect Simon Quayle           197,727,719    99.50      991,815    0.50   198,719,534   64.65%         88,347 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 9. To re-elect Thomas Welton          197,727,719    99.50      991,815    0.50   198,719,534   64.65%         88,347 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 10. To re-elect Christopher Ward      197,611,405    70.67   81,996,050   29.33   279,607,455   90.96%         89,347 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 11. To re-elect Richard Akers         198,344,293    99.81      376,735    0.19   198,721,028   64.65%         86,853 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 12. To re-elect Jill Little           198,261,881    99.77      459,147    0.23   198,721,028   64.65%         86,853 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 13. To re-elect Dermot Mathias        198,347,703    99.81      373,325    0.19   198,721,028   64.65%         86,853 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 14. To re-elect Sally Walden          198,345,037    99.81      372,322    0.19   198,717,359   64.65%         90,519 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 15. To re-appoint Ernst & Young       198,702,969    99.99       10,182    0.01   198,713,151   64.65%         94,730 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 16. To authorise the directors to 
  agree the remuneration of the 
  auditors                             198,695,753    99.99       22,781    0.01   198,718,534   64.65%         89,347 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 17. To authorise an increase in the 
  aggregate non-executive director 
  fee limit                            197,984,404    99.63      735,526    0.37   198,719,930   64.65%         87,950 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 18. To authorise the directors to 
  allot shares                         192,916,163    68.97   86,779,039   31.03   279,695,202   90.99%          1,600 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 19. To grant the directors 
  authority to disapply pre-emption 
  rights (Special Resolution)          197,938,537    70.93   81,120,397   29.07   279,058,934   90.79%        637,868 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 20. To grant the directors 
  authority to disapply pre-emption 
  rights for an additional 5% only 
  in connection with an acquisition 
  or specified investment (Special 
  Resolution)                          195,832,923    70.17   83,232,654   29.83   279,065,577   90.79%        631,224 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 21. To authorise market purchases 
  of the Company's shares (Special 
  Resolution)                          198,014,219    99.62      764,829    0.38   198,779,048   64.67%         28,832 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 22. To call a general meeting, 
  other than an annual general 
  meeting, on not less than 14 clear 
  days' notice (Special Resolution)    192,196,765    68.74   87,405,987   31.26   279,602,752   90.96%         94,050 
                                      ------------  -------  -----------  ------  ------------  -------  ------------- 
 

*Vote withheld is not a vote in law and will not be counted in the calculation of the proportion of votes for and against a resolution.

Notes

   1.   Percentage of shares voted: 90.99% (Number of shares in issue 307,380,700) 

2. In accordance with UK Listing Rule 9.6.2R, copies of all resolutions passed at the AGM, other than those concerning ordinary business, will be submitted to the UK Listing Authority and will, in due course, be available for inspection at www.morningstar.co.uk/uk/NSM.

   3.   Details of the votes received on the resolutions are available on the Company's website: www.shaftesbury.co.uk. 
   4.   Shaftesbury PLC LEI: 213800N7LHKFNTDKAT98 

Penny Thomas

Company Secretary

020 7333 8118

8 February 2019

Contact:

RMS Partners 020 3735 6551

Simon Courtenay

MHP Communications 020 3128 8100

Oliver Hughes/Reg Hoare

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February 08, 2019 10:32 ET (15:32 GMT)