Result of AGM

Mountview Estates PLC

09 August 2023

 

FOR IMMEDIATE RELEASE - 9 August 2023

MOUNTVIEW ESTATES P.L.C.

Mountview Estates P.L.C.

("Mountview" or "the Company")

Result of Annual General Meeting

Mountview Estates P.L.C. announces the results of the voting on the resolutions at the Annual General Meeting held on 9 August 2023. A poll was held on each of the Resolutions. Resolutions 1 to 11 were passed by the requisite majority. 

All the Poll results of are set out below:

Resolution	Votes for	%	Votes against	%		Votes total	% of issued share capital	Votes withheld (Note)
1. to receive and consider the Annual Report and Accounts for the year ended 31 March 2023.	3,273,506	99.99%	100	0.01%		3,273,606	83.96%	0
2. to declare a final dividend of 250 pence per share.	3,273,506	99.99%	100	0.01%		3,273,606	83.96%	0
3. to re-elect Mrs M. M. Bray as a director of the Company.	2,992,042	91.40%	281,453	8.60%		3,273,495	83.96%	111
4. to re-elect Mr D. M. Sinclair as a director of the Company.	2,990,937	91.40%	281,453	8.60%		3,272,390	83.93%	1,216
5. to re-elect Ms M. L. Archibald as a director of the Company.	2,051,746	62.70%	1,220,455	37.30%		3,272,201	83.92%	1,405
6. to re-elect Mr A. W. Powell as a director of the Company.	2,027,835	62.43%	1,220,155	37.57%		3,247,990	83.30%	25,616
7. to re-elect Dr A. R. Williams as a director of the Company.	2,308,898	98.93%	24,901	1.07%		2,333,799	59.86%	939,807
8.  to approve the Directors' Remuneration Report.	2,309,748	70.57%	963,394		29.43%	3,273,142	83.95%	464
9.  to re-appoint BSG Valentine (UK) LLP as Auditors of the Company.	2,334,454	71.31%	939,152		28.69%	3,273,606	83.96%	0
10.  to authorise the Directors to determine the Auditors' remuneration.	2,992,782	91.42%	280,824		8.58%	3,273,606	83.96%	0
Independent Resolutions:
11. to re-elect Ms M. L. Archibald as a director of the Company.	238,043	16.32%	1,220,455		83.68%	1,458,498	37.41%	1,405
12. to re-elect Mr A. W. Powell as a director of the Company.	214,132	14.93%	1,220,155		85.07%	1,434,287	36.79%	25,616

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 Directors note that while a significant majority of shareholders that voted at the Annual General Meeting supported Resolutions 5, 6, 8, and 9, we are disappointed that a notable number of shareholders opposed these Resolutions.  The Directors intend to engage with shareholders to obtain feedback on their concerns and will publish an update on that engagement within six months of the date of the Annual General Meeting.

The Company is also disappointed to note that Resolutions 11 and 12, to re-elect Mhairi Archibald and Tony Powell as Directors of the Company, were not approved by a majority of the Company's independent shareholders.  The Company is entitled, in accordance with the FCA's Listing Rules, to convene a general meeting (to be held within 90 and 120 days of today's date) at which resolutions may be put to the meeting to re-appoint Mhairi Archibald and Tony Powell as Directors of the Company. 

A further announcement will be made in due course.

As as the date of the Annual General Meeting, the Company's issued share capital was 3,899,014 ordinary shares carrying one vote each.

~Ends~

For further information on the Company, visit: www.mountviewplc.co.uk 

SPARK Advisory Partners Limited (Financial Adviser)	www.sparkadvisorypartners.com
Mark Brady - 020 3368 3550

 

END