Capital & Counties Properties PLC - London-based property investment and development company - Says just over 21% of shareholders vote against motion to authorise directors of company to allot unissued share capital up to a certain amount. Motion passes with support of over 78%, however. Capital & Counties notes the AGM "voting outcome reflects differing market practice between the UK and South Africa". Company adds: "The company has consulted regularly with its larger international shareholders on this matter, however many institutions operate under policies that do not permit this level of authority to be supported, although a number of our shareholders do understand the company's position." To continue to engage with shareholders but continues to expect "significant votes against this resolution".
Current stock price: 177.90 pence in London, ZAR35.19 in Johannesburg
Year-to-date change: up 23%
By Eric Cunha; ericcunha@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
