Company Announcements

Result of AGM

Source: RNS
RNS Number : 3878S
LondonMetric Property PLC
13 July 2022
 

13 July 2022

LONDONMETRIC PROPERTY PLC

("LondonMetric" or "Company")

RESULT OF AGM

 

LondonMetric Property Plc announces that at its Annual General Meeting held earlier today, Wednesday 13 July 2022, all resolutions were duly passed with the requisite majority by means of a poll.

 

A copy of resolutions 15 to 20 (as set out in the notice of Annual General Meeting), being the resolutions passed at the Annual General Meeting not concerning ordinary business, is being submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

 

There were 980,144,326 ordinary shares in issue at the close of business on 11 July 2022 (being the total number of shares entitling holders to vote at the AGM).

 

All resolutions were decided on a poll and all valid proxy votes (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting. All resolutions proposed at the Annual General Meeting were passed by shareholders. The number of votes for and against each of the resolutions put before the Annual General Meeting and the number of votes withheld were as follows. 

 

 

Resolution

For

Votes

% of votes cast*

Against

Votes

% of votes cast*

Withheld

Votes

1

Receive the Annual Report and Accounts

769,677,950

99.86%

1,085,085

0.14%

5,072,355

2

Approve the Annual Report on Remuneration

729,175,951

94.68%

40,978,748

5.32%

5,680,691

3

Reappoint Deloitte LLP as Auditor

770,732,031

99.93%

571,890

0.07%

4,531,469

4

Authorise Auditor's remuneration

775,724,336

99.99%

8,515

0.01%

102,539

5

Re-election of Patrick Vaughan as a Director

595,102,910

79.15%

156,751,658

20.85%

23,980,822

6

Re-election of Andrew Jones as a Director

774,817,595

99.88%

909,399

0.12%

108,396

7

Re-election of Martin McGann as a Director

772,706,171

99.61%

3,019,351

0.39%

109,868

8

Re-election of James Dean as a Director

773,228,476

99.68%

2,475,231

0.32%

131,683

9

Re-election of Rosalyn Wilton as a Director

775,451,684

99.96%

273,838

0.04%

109,868

10

Re-election of Andrew Livingston as a Director

764,218,898

99.08%

7,090,959

0.92%

4,525,533

11

Re-election of Suzanne Avery as a Director

769,685,072

99.22%

6,018,635

0.78%

131,683

12

Re-election of Robert Fowlds as a Director

768,396,520

99.06%

7,307,187

0.94%

131,683

13

Re-election of Katerina Patmore as a Director

775,429,869

99.96%

273,838

0.04%

131,683

14

Election of Alistair Elliott as a Director

774,326,714

99.82%

1,376,555

0.18%

132,121

15

Authorise Directors to allot shares and equity securities

727,711,862

93.81%

48,020,174

6.19%

103,354

16

Authorise Directors to offer ordinary shares in lieu of a cash dividend

775,726,225

99.99%

8,845

0.01%

100,320

17

To disapply Section 561 of the Companies Act 2006 in respect of allotments

775,287,148

99.94%

431,381

0.06%

116,861

18

To disapply Section 561 of the Companies Act 2006 in respect of specified allotments

769,183,595

99.16%

6,535,653

0.84%

116,142

19

Authorise the Company to make market purchases of ordinary shares

770,850,424

99.42%

4,464,926

0.58%

520,040

20

Authorise the Company to call a general meeting with no less than 14 days' notice

710,562,496

91.60%

65,173,293

8.40%

99,601

 

* excluding votes withheld

 

 

Resolution 5

The Board notes the level of votes cast against Resolution 5, the re-election of Patrick Vaughan, which received 79.15% approval. We are engaging with shareholders who voted against the re-election to address their concerns and will report in due course. The Board strongly supports Patrick's re-election as Chair of the Board and Nomination Committee. In relation to Provision 19 of the Corporate Governance Code relating to the tenure of the Chair, the Board does not believe that Patrick's independence and objectivity is compromised by the length of his service, and values his property expertise and sound judgement. However, the search for a successor is underway. The Nomination Committee and Board is committed to strengthening female representation on the Board, which following this AGM has temporarily fallen below its 33% target and year end position, and will report on progress in due course.

 

-Ends-

 

 

LondonMetric Property Plc

Andrew Jones / Martin McGann

Tel: +44 (0) 20 7484 9000

 

FTI Consulting

Dido Laurimore / Richard Gotla/Andrew Davis

Tel: +44 (0) 20 3727 1000

 

Notes to editors:

LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a diversified long income portfolio, with 16 million sq ft under management. It owns and manages desirable real estate that meets occupiers' demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term. Further information is available at www.londonmetric.com

 

 

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