LONDON (Alliance News) - Shaftesbury PLC on Friday said three of its special resolutions were not passed by shareholders at its annual general meeting.
Although all of the resolutions proposed at the real estate investment trust's AGM received a majority of votes, these special resolutions required a 75% majority to pass.
Samuel Tak Lee, a Hong Kong-based businessman who owns 26% of Shaftesbury, informed the company that he was intending to vote against resolution 18 and also special resolutions 19, and 20.
Shaftesbury then "became aware through press coverage" on Thursday that Tak Lee was also intending to vote against resolutions 2, 3, 6, 7, 10 and special resolution 22.
Of these, only resolutions 19, 20, and 22 were special resolutions and weren't passed.
29% of votes cast at the AGM were against resolution 19 and 30% were against 20, both of which granted directors the authority to allot shares on a non pre-emptive basis.
Resolution 22 would have allowed Shaftesbury to call a general meeting, with the exception of an AGM, on no less than 14 days' notice. 31% of votes were cast in opposition to this.
"The company is disappointed that Lee has voted against these resolutions and will continue to attempt to engage directly with him," said Shaftesbury.
Shares in Shaftesbury were down 1.3% at 872.00 pence on Friday.
