Update on Shareholder Views Following AGM

RNS Number : 8747E

Civitas Social Housing PLC

16 March 2022

 

16 March 2022

CIVITAS SOCIAL HOUSING PLC

("Civitas" or the "Company")

Update on Shareholder Views Following AGM

At the Company's AGM on 23 September 2022, the Board noted that votes representing 27.11% of total votes cast were received against Resolution 13, the non-market standard, additional 10% pre-emption resolution. The authority granted in Resolution 12 still permits the Company in aggregate, to issue up to 10% of the number of Ordinary Shares in issue at the AGM at a premium to NAV.

The AIC Code of Corporate Governance requires that, where a significant proportion of votes have been cast against a resolution at a general meeting, a company should explain what actions it has taken to understand the reasons behind the vote. 

The Company, via its corporate brokers have engaged with the largest shareholders who voted against this resolution. The Board understands that these shareholders followed PIRC's or their own internal recommendation to vote against this resolution as when combined with the standard 10% pre-emption disapplication resolution it would have resulted in the Company having authority to issue up to 20% pre-emptively.

LEI:  213800PGBG84J8GM6F95

ENDS

For further information, please contact:

L ink Company Matters Limited (Company Secretary)	[phone]

Notes:

Civitas Social Housing PLC (CSH) was created in 2016 by Civitas Investment Management Limited as the first dedicated London listed REIT to raise long-term, sustainable, institutional capital to invest in care-based social homes and healthcare facilities across the UK. So far, Civitas has completed more than 120 individual transactions to build the largest portfolio of its kind that has been independently valued at £946.3million (30 September 2021). CSH now provides homes for 4,404 working age adults with long-term care needs, in 649 bespoke properties that are supported by 119 specialist care providers, 18 approved providers and working with over 178 individual local authorities.

 

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