7 Feb 2019 16:23
Result of General Meeting - Proposed Disposal of Commercial Property Portfolio
On 18 January 2019, Ei Group plc ("Ei Group" or the "Company") published its shareholder circular containing a notice of General Meeting in connection with the proposed disposal of 370 properties comprising public houses and other commercial properties for expected gross aggregate cash consideration of £348 million (the "Disposal").
At the General Meeting held earlier today, the ordinary resolution to approve the Disposal was duly passed on a show of hands.
Resolution | Votes for | % of votes cast | Votes against | % of votes cast | Votes withheld |
To approve the Disposal | 357,948,870 | 99.99 | 29,162 | 0.01 | 22,785 |
Notes:
1. The resolution was an ordinary resolution, requiring more than 50% of shareholder votes to be "for" the resolution.
2. The "for" vote includes those giving the Chairman discretion.
3. A vote "withheld" is not a vote in law and is not counted in the calculation of the % of shares voted "for" or "against" the resolution.
4. Total number of shares in issue (excluding 50,000,000 shares held in treasury) at close of business on 6 February 2019 was 456,220,177 shares.
5. A copy of this announcement and the proxy results for the resolution will be displayed on the Company's website (www.eigroupplc.com) shortly.
6. A copy of the resolution is available for inspection in the Circular which was previously submitted to the National Storage Mechanism (www.morningstar.co.uk/uk/NSM.)
Simon Townsend, CEO of Ei Group said:
"We are pleased today to receive the strong support of our shareholders for the Disposal. We believe it delivers an excellent result for our Shareholders and is in line with our strategy of delivering attractive and sustainable returns by unlocking the embedded value and optimising the returns from every asset within the business"
Completion of the first tranche of the disposal, comprising 348 of the properties to be sold, is expected to occur in early March 2019.
Capitalised terms used in this announcement have the meanings given to them in the class 1 circular dated 17 January 2019, which is available on the Company's website (www.eigroupplc.com).
Enquiries:
L Togher
Company Secretary
0121 272 5334