Last checked at 30 Apr 2019 17:44
LSL Property Services plc
Results of Annual General Meeting
At the Annual General Meeting of LSL Property Services plc held at 3.30pm today, all resolutions set out in the Notice of the Meeting were passed by shareholders. Details of the votes cast are set out below.
90,867,906 proxy votes were received representing 87.24% of the issued share capital.
The following table gives details of the proxy votes lodged with LSL's Registrar:
Resolution | Total Votes For/Discretion (%)* | Total Votes Against(%) | Total VotesWithheld |
1. To receive, consider and adopt LSL's Annual Accounts for the year ended 31st December 2018, together with the Directors' Report and Auditors' Report on those accounts | 90,853,579 (99.99) | 10,016 (0.01) | 4,309 |
2. To approve the Directors' Remuneration Report contained within LSL's Annual Report and Accounts 2018 for the year ended 31st December 2018 | 90,570,041 (99.99) | 11,945 (0.01) | 285,918 |
3. To approve the proposed final dividend of 6.9 pence per share in respect of the year ended 31st December 2018 | 90,867,906 (100) | 0 (0.00) | 0 |
4. To re-elect Helen Buck as a director | 90,865,128 (99.99) | 2,778 (0.01) | 0 |
5. To re-elect Adam Castleton as a director | 90,848,668 (99.98) | 19,238 (0.02) | 0 |
6. To re-elect Ian Crabb as a director | 90,862,997 (99.99) | 4,909 (0.01) | 0 |
7. To re-elect Simon Embley as a director | 89,714,911 (98.73) | 1,152,994 (1.27) | 0 |
8. To elect Darrell Evans as a director | 90,862,830 (99.99) | 5,076 (0.01) | 0 |
9. To re-elect Bill Shannon as director | 89,581,281 (98.58) | 1,286,624 (1.42) | 0 |
10. To re-elect David Stewart as a director | 89,596,769 (98.60) | 1,271,137 (1.40) | 0 |
11. To re-appoint Ernst & Young LLP as auditor of LSL | 90,574,370 (99.68) | 293,535 (0.32) | 0 |
12. To authorise the directors to determine the auditor's remuneration | 90,867,741 (99.99) | 165 (0.01) | 0 |
13. To authorise the directors to allot shares | 89,957,083 (99.00) | 910,823 (1.00) | 0 |
14. To disapply pre-emption rights (Special Resolution) | 81,022,799 (89.17) | 9,845,107 (10.83) | 0 |
15. To disapply pre-emption rights - acquisitions (Special Resolution) | 72,011,516 (79.25) | 18,856,389 (20.75) | 0 |
16. To authorise LSL to purchase its own Ordinary Shares (Special Resolution) | 90,855,763 (99.99) | 12,142 (0.01) | 0 |
17. To authorise the making of political donations | 85,500,775 (94.10) | 5,364,820 (5.90) | 2,309 |
18. To authorise the holding of a general meeting on not less than 14 days' notice (Special Resolution) | 70,612,071 (77.71) | 20,255,835 (22.29) | 0 |
* Votes received supporting the resolution or granting the Chairman or other third party discretion to vote on their behalf in respect of the resolution.
The LSL Board notes the significant votes against Resolution 15 (to disapply pre-emption rights - acquisitions) and Resolution 18 (to authorise the holding of a general meeting on not less than 14 days' notice) notwithstanding prior engagement with Shareholders, and approval of such resolutions in previous years. Both resolutions are customarily proposed and passed by listed companies in the UK, and are in line with institutional investor guidance. The LSL Board understands that certain of its Shareholders typically vote against these resolutions as a matter of general principle. As always, the LSL Board will reflect on the feedback that it has received and will continue to consult with Shareholders to understand their concerns.
Copies of the special business resolutions passed at the Annual General Meeting have been submitted to the UK Listing Authority and will shortly be available through the National Storage Mechanism hosted by Morningstar plc on behalf of the UK Listing Authority.
Further information is available from:
Sapna B FitzGerald
Company Secretary
LSL Property Services plc
01904 698 850
www.lslps.co.uk