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 

 

 

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