15 Dec 2021 13:57
GCP STUDENT LIVING PLC
("GCP Student" or the "Company", together with its subsidiaries the "Group")
LEI: 2138004J4ID66FK38H25
Result of Annual General Meeting
GCP Student Living, the only UK REIT focused on modern, purpose-built private student accommodation in and around London, announces that, at the Annual General Meeting held today, all resolutions were passed on a poll, with the exception of Resolution 14, authority to convene a general meeting on not less than 14 clear days' notice, which failed:
The results of the poll for each resolution were as follows:
Resolutions | Votes For | % | Votes Against | % | Votes Withheld |
Resolution 1 | 179,869,022 | 97.52 | 4,569,634 | 2.48 | 290,983 |
Resolution 2 | 181,393,535 | 98.20 | 3,330,315 | 1.80 | 5,789 |
Resolution 3 | 184,198,610 | 99.72 | 525,240 | 0.28 | 5,789 |
Resolution 4 | 184,188,398 | 99.71 | 535,452 | 0.29 | 5,789 |
Resolution 5 | 133,376,208 | 72.20 | 51,347,642 | 27.80 | 5,789 |
Resolution 6 | 129,581,425 | 96.56 | 4,610,703 | 3.44 | 50,537,511 |
Resolution 7 | 184,681,520 | 99.98 | 42,330 | 0.02 | 5,789 |
Resolution 8 | 180,677,126 | 97.81 | 4,050,962 | 2.19 | 1,551 |
Resolution 9 | 184,694,643 | 99.98 | 33,295 | 0.02 | 1,701 |
Resolution 10 | 184,695,005 | 99.98 | 32,933 | 0.02 | 1,701 |
Resolution 11 | 184,695,608 | 99.98 | 32,480 | 0.02 | 1,551 |
Resolution 12 | 184,677,004 | 99.97 | 51,084 | 0.03 | 1,551 |
Resolution 13 | 180,312,513 | 97.61 | 4,415,575 | 2.39 | 1,551 |
Resolution 14 | 124,932,498 | 67.63 | 59,795,590 | 32.37 | 1,551 |
As a result of the vote on Resolution 14, the Company will not seek to hold general meetings on the shorter timeframe being proposed.
The Board acknowledges the significant vote against Resolution 5 and the failure of Resolution 14. The Board is committed to continuing an open and transparent dialogue with the Company's shareholders and will continue to engage with those shareholders, and others, who voted against these resolutions to further understand their views and/or any specific concerns.
A copy of the full text of resolutions 10 to 13 will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
For further information please contact:
Gravis Capital Management Limited +44 020 3405 8500
Nick Barker
Joe McDonagh
Jeffries International Limited +44 020 7029 8000
Philip Noblet
Tom Yeadon
Rishi Bhuchar
James Thomlinson
Buchanan / Quill +44 020 7466 5000
Helen Tarbet
Henry Wilson
About GCP Student
The Company is the only UK REIT focused on modern, purpose-built private student accommodation in and around London.
Its investments are located where the Investment Manager believes the Company is likely to benefit from supply and demand imbalances for student residential accommodation. GCP Student's property portfolio comprises eleven operational assets with c.4,100 beds. At 30 September 2021, its property portfolio was valued at £1.16 billion.