6 Jun 2016 16:50
6 June 2016
Hansteen Holdings PLC
("Hansteen")
Result of AGM
Hansteen (LSE: HSTN), the investor in UK and continental European real estate, announces that at its Annual General Meeting held earlier today, Monday, 6 June 2016, all resolutions were duly passed by way of a poll.
In accordance with 9.6.2(R) of the Listing Rules, a copy of the resolutions passed at the Annual General Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.morningstar.co.uk/uk/nsm.
The voting on all of the resolutions proposed was carried out on a poll, conducted by Capita Registrars as scrutineers. The votes received in respect of the resolutions proposed represented a total of 81.61% of the 744,194,334 ordinary shares in issue (excluding 1,533,573 shares held in treasury) as at the date of the meeting (each ordinary share carries one vote). The results were as follows:
|
| For | Against | Withheld | ||
| Resolution | Votes | % of votes cast* | Votes | % of votes cast* | Votes |
1 | Receive and adopt Annual Accounts | 592,621,377 |
97.57% | 14,739,329 |
2.43% | 5,090 |
2 | Approve Annual Report on Remuneration | 427,998,625 |
76.60% | 130,743,937 |
23.40% | 48,623,234 |
3 | Re-elect Ian Watson | 603,692,017 | 99.40% | 3,670,779 | 0.60% | 0 |
4 | Re-elect Morgan Jones | 589,007,168 | 96.98% | 18,351,532 | 3.02% | 7,096 |
5 | Re-elect Richard Lowes | 596,483,505 | 99.90% | 596,350 | 0.10% | 10,285,941 |
6 | Re-elect James Hambro | 555,348,628 | 96.58% | 19,691,330 | 3.42% | 32,325,838 |
7 | Re-elect Melvyn Egglenton | 526,389,188 | 90.33% | 56,332,035 | 9.67% | 24,644,573 |
8 | Re-elect Rebecca Worthington | 571,127,789 | 94.04% | 36,226,911 | 5.96% | 11,096 |
9 | Elect David Rough | 607,081,730 | 99.96% | 272,970 | 0.04% | 11,096 |
10 | Elect Margaret Young | 607,078,385 | 99.95% | 276,315 | 0.05% | 11,096 |
11 | Re-appoint auditors | 596,690,765 | 98.24% | 10,667,935 | 1.76% | 7,096 |
12 | Determine auditor's remuneration | 607,339,537 |
99.99% | 19,163 |
0.01% | 7,096 |
13 | Authority to allot shares | 550,215,835 | 90.73% | 56,202,845 | 9.27% | 947,339 |
14 | Disapply pre-emption rights | 536,025,032 | 95.85% | 23,187,266 | 4.15% | 48,153,498 |
15 | Authority to purchase shares in the market | 597,001,340 |
98.29% | 10,357,137 |
1.71% | 7,096 |
16 | Short notice general meetings | 596,881,586 | 98.27% | 10,483,713 | 1.73% | 497 |
* excluding votes withheld
The Board is mindful of the shareholders who voted against Resolution 2, the 2015 Annual Report on Remuneration. Both the Chairman and the Chairman of the Remuneration Committee have met and talked to a number of institutional investors who raised concerns about the potential quantum of the pay out of "The Founder Long Term Incentive Plan" ("FLTIP") for the two Joint Chief Executives .The FLTIP was put in place at the time of the Company's IPO in 2005 and is capped at a rate that was agreed with the shareholders at the time of the IPO. The Founder LTIP has been fully disclosed in the Annual Report and was part of the Remuneration Policy agreed by almost 100% of shareholders at the 2014 Annual General Meeting. Hansteen will put a Remuneration Policy to shareholders at the 2017 Annual General Meeting and it is the Company's intention to discuss the contents of the policy with our major shareholders in the course of this year.
For further information:
Teresa Furmston Company Secretary Hansteen Holdings PLC Tel: 020 7408 7000 |
| Jeremy Carey Tavistock Tel: 020 7920 3150 |