1 Mar 2018 14:07
The Local Shopping REIT plc ("the Company") announces the results of resolutions considered at the Company's Annual General Meeting held on 1 March 2018.
The following resolutions were passed on a show of hands, and the meeting was informed of valid proxy appointments which had been received in respect of those resolutions, as set out below:
| Resolution Number & Description | For | Discretionary | Against | Withheld | Total Cast* | % of shares voted* | |||||
| 1: Receive and adopt the report of the directors and the financial statements of the Company for the financial year ended 30 September 2017, together with the report of the Auditors. | 36,202,814 | 0 | 21,021,200 | 7 | 57,224,021 | 69.36% | |||||
| 2. Approve the Remuneration Implementation Report, contained in the report of the directors. | 35,951,665 | 0 | 21,022,349 | 250,007 | 57,224,021 | 69.36% | |||||
| 3. Re-elect Stephen East as a director.
| 57,222,860 | 0 | 1,154 | 7 | 57,224,021 | 69.36% | |||||
| 4: Re-elect Nicholas Vetch as a director. | 36,201,665 | 0 | 21,022,349 | 7 | 57,224,021 | 69.36% | |||||
| 5: Re-elect Brett Miller as a director. | 36,202,814 | 0 | 21,021,200 | 7 | 57,224,021 | 69.36% | |||||
| 6: Re-appoint KPMG LLP as auditors to the Company and to authorise the directors to determine their remuneration.
| 35,952,014 | 0 | 21,021,200 | 250,807 | 57,224,021 | 69.36% | |||||
| 7. Renew the directors' authority to allot securities up to a maximum nominal amount equal to one-third of issued share capital. | 35,905,314 | 0 | 21,068,700 | 250,007 | 57,224,021 | 69.36% | |||||
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The following resolutions, proposed as Special Resolutions of the Company, were not passed, as a result of voting on polls demanded and taken at the meeting:
Resolution Number & Description | For | Discretionary | Against | Withheld | Total Cast* | % of shares voted* |
8: Authorise the directors to allot shares for cash, dispensing with Companies Act 2006 pre-emption procedures, up to 0a maximum of 5% of issued share capital. | 35,904,514 | 0 | 21,069,500
| 250,007 | 57,224,021 | 69.36% |
9: Authorise the directors to allot further shares for cash, dispensing with Companies Act 2006 pre-emption procedures, up to a maximum of 5% of issued share capital in relation to the financing of an acquisition or other capital investment. | 35,904,514 | 0 | 21,069,500
| 250,007 | 57,224,021 | 69.36% |
10: Authorise the directors to make market purchases of the Company's shares up to a maximum of 10% of issued share capital. | 35,952,814 | 0 | 21,021,200 | 250,007 | 57,224,021 | 69.36% |
11: Permit general meetings, other than the Annual General Meeting, to be called on 14 clear days' notice. | 36,162,014 | 0 | 21,062,000 | 7 | 57,224,021 | 69.36% |
\* The total cast figure includes votes withheld. However, as votes withheld are not votes in law, they were not counted in the calculating the proportion of votes for and against a resolution.
Copies of the Notice of the Meeting and Addendum, including full text of all the resolutions, may be obtained from the Company's web site: www.localshoppingreit.co.uk.
Enquiries:
William A Heaney
Company Secretary
020 7355 8800
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