9 July 2020
Land Securities Group PLC (the "Company")
Voting results of Annual General Meeting
The Company announces the voting results of its Annual General Meeting ("AGM") held earlier today at 80 Victoria Street, London, SW1E 5JL. All resolutions, as set out in the Notice of Meeting dated 8 June 2020, were passed with the requisite majority by means of a poll.
Resolutions 1 to 15 were passed as Ordinary Resolutions and resolutions 16 to 18 were passed as Special Resolutions.
|
|
RESOLUTION |
VOTES |
% FOR |
VOTES |
TOTAL VOTES FOR / AGAINST |
VOTES |
|
1. |
To receive the accounts of the Company for the year ended 31 March 2020 and the Directors' and Auditors' Reports thereon |
529,157,279 |
99.99% |
59,006 |
529,216,285 |
734,478 |
|
2. |
To approve the Annual Report on Remuneration |
474,927,370 |
89.72% |
54,442,666 |
529,370,036 |
580,726 |
|
3. |
To elect Mark Allan as a Director |
529,331,341 |
99.98% |
89,371 |
529,420,712 |
530,051 |
|
4. |
To re-elect Martin Greenslade as a Director |
528,063,258 |
99.74% |
1,360,593 |
529,423,851 |
526,912 |
|
5. |
To re-elect Colette O'Shea as a Director |
529,292,834 |
99.98% |
130,050 |
529,422,884 |
527,879 |
|
6. |
To re-elect Edward Bonham Carter as a Director |
421,559,368 |
79.63% |
107,863,200 |
529,422,568 |
528,194 |
|
7. |
To re-elect Nicholas Cadbury as a Director |
529,058,262 |
99.93% |
365,039 |
529,423,301 |
527,461 |
|
8. |
To re-elect Madeleine Cosgrave as a Director |
526,981,760 |
99.54% |
2,441,654 |
529,423,414 |
527,348 |
|
9. |
To elect Christophe Evain as a Director |
523,437,860 |
98.87% |
5,977,637 |
529,415,497 |
535,266 |
|
10. |
To re-elect Cressida Hogg as a Director |
527,429,763 |
99.62% |
2,008,679 |
529,438,442 |
512,320 |
|
11. |
To re-elect Stacey Rauch as a Director |
481,061,728 |
90.87% |
48,360,776 |
529,422,504 |
528,259 |
|
12. |
To re-appoint Ernst & Young LLP as auditor |
527,045,293 |
99.98% |
118,275 |
527,163,568 |
2,787,195 |
|
13. |
To determine the remuneration of the auditor |
529,328,524 |
99.98% |
115,049 |
529,443,573 |
507,190 |
|
14. |
To make political donations |
524,626,413 |
99.09% |
4,800,064 |
529,426,477 |
524,286 |
|
15. |
To allot securities |
482,036,345 |
91.05% |
47,395,888 |
529,432,233 |
518,530 |
|
16. |
To disapply pre-emption rights |
509,416,296 |
97.12% |
15,093,839 |
524,510,135 |
5,440,628 |
|
17. |
To disapply pre-emption rights for purposes of acquisitions or capital investments |
505,799,400 |
96.43% |
18,708,913 |
524,508,313 |
5,442,449 |
|
18. |
To purchase own shares |
523,636,687 |
98.96% |
5,527,410 |
529,164,097 |
786,665 |
* Includes discretionary votes
**A vote withheld is not a vote in law and is therefore not included in the calculation of total votes For/Against
Total voting rights at 9 July 2020: 741,473,884 Ordinary shares of 10 2/3 p each
Number of votes per share: One
Total number of votes cast: 529,443,573 Ordinary shares (i.e.71.40% turnout)
Closed meeting
Due to Covid-19 restrictions, the Company held a closed Annual General Meeting with only the minimum number of shareholders present who were all members of the Board / employees as required to form a quorum under the Company's articles of association. All valid proxy votes and voting instructions (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting.
Resolution 6
The Board notes the level of votes cast against Resolution 6, the re-election of Edward Bonham Carter, which received 79.63% approval. This is primarily driven by the votes from a small number of institutional shareholders. We will engage with the shareholders who voted against Edward's re-election to understand what is causing the concern and will report in due course.
The Board strongly supports Edward's re-appointment to the Board. Edward has attended 100% of Board and Committee meetings over the last year and has dedicated additional time to contribute towards the appointment of the Company's new CEO. The Board is therefore confident that Edward is able to continue to make an effective contribution to the Company's Board and its Committees. The Nomination Committee carefully monitors all directors' external time commitments and would take appropriate action should concerns be identified.
Special business resolutions
In accordance with Listing Rule 9.6.2, copies of the resolutions passed as special business will shortly be available for inspection on the National Storage Mechanism at https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism
A copy of the voting results shown above is also available on the Company's website at https://landsec.com/investors/shareholders-equity-investors/annual-general-meeting
END
For further information, please contact:
Land Securities Group PLC
Tim Ashby
Group General Counsel & Company Secretary
Tel: +44(0) 20 7024 5256
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