Result of Annual General Meeting

Mountview Estates PLC

14 August 2024

 

FOR IMMEDIATE RELEASE - 14 August 2024

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 14 August 2024. A poll was held on each of the Resolutions. Resolutions 1 to 10 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 2024.	3,009,764	99.99%	47	0.01%		3,009,811	77.19%	0
2. to declare a final dividend of 275 pence per share.	3,009,811	100.00%	0	0.00%		3,009,811	77.19%	0
3. to re-elect Mrs M. M. Bray as a director of the Company.	2,048,414	68.06%	961,397	31.94%		3,009,811	77.19%	0
4. to re-elect Mr D. M. Sinclair as a director of the Company.	2,049,687	68.11%	959,897	31.89%		3,009,811	77.19%	227
5. to re-elect Ms M. L. Archibald as a director of the Company.	2,022,721	67.19%	987,290	32.81%		3,009,811	77.19%	300
6. to re-elect Mr A. W. Powell as a director of the Company.	2,022,721	67.73%	963,940	32.27%		3,009,811	77.19%	23,150
7. to re-elect Dr A. R. Williams as a director of the Company.	2,025,661	98.73%	26,121	1.27%		3,009,811	77.19%	958,029
8.  to approve the Directors' Remuneration Report.	2,049,351	68.10%	960,160		31.90%	3,009,811	77.19%	300
9.  to elect Messrs Moore Kingston Smith LLP as Auditors of the Company.	2,051,441	68.16%	958,370		31.84%	3,009,811	77.19%	0
10.  to authorise the Directors to determine the Auditors' remuneration.	3,009,512	99.99%	299		0.01%	3,009,811	77.19%	0
Independent Resolutions:
11. to re-elect Ms M. L. Archibald as a director of the Company.	226,143	18.64%	987,290		81.36%	1,213,733	31.13%	300
12. to re-elect Mr A. W. Powell as a director of the Company.	226,443	19.02%	967,140		80.98%	1,213,733	31.13%	23,150

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 3, 4, 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

 

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