Last checked at 7 Aug 2019 15:13
FOR IMMEDIATE RELEASE - 7 August 2019
MOUNTVIEW ESTATES P.L.C.
Mountview Estates P.L.C.
("Mountview" or "the Company")
Result of Annual General Meeting
Mountview Estates P.L.C. is pleased to announce that at the Annual General Meeting held today, all Resolutions were taken on a poll. Resolutions 1 to 10 were passed by the requisite majority.
All the Poll results of are set out below:
Resolution | Votes for | % | Votes against | % | Votes total | % of issued share capital | Votes withheld (Note) |
1. to receive and adopt the Annual Report and Accounts for the year ended 31 March 2019 | 2,939,851 | 100.00 | 0 | 0.00 | 2,939,851 | 75.40 | 0 |
2. to declare a final dividend of 200 pence per share | 2,939,851 | 100.00 | 0 | 0.00 | 2,939,851 | 75.40 | 0 |
3. to re-elect Mrs M M Bray as a director of the Company | 2,939,801 | 100.00 | 50 | 0.00 | 2,939,851 | 75.40 | 0 |
4. to re-elect Mr D M Sinclair as a director of the Company | 2,939,701 | 100.00 | 50 | 0.00 | 2,939,751 | 75.40 | 100 |
5. to re-elect Mrs M L Jarvis as a director of the Company | 2,001,233 | 68.08 | 938,218 | 31.92 | 2,939,451 | 75.39 | 400 |
6. to re-elect Mr A W Powell as a director of the Company | 2,001,633 | 68.09 | 938,218 | 31.91 | 2,939,851 | 75.40 | 0 |
7. to re-elect Dr A R Williams as a director of the Company | 1,938,118 | 96.82 | 63,735 | 3.18 | 2,001,853 | 51.34 | 937,998 |
8. to approve the Directors' Remuneration Report | 1,997,786 | 67.96 | 942,065 | 32.04 | 2,939,851 | 75.40 | 0 |
9. to re-appoint Messrs BSG Valentine as Auditors of the Company
| 1,998,416 | 67.98 | 941,435 | 32.02 | 2,939,851 | 75.40 | 0 |
10. to authorise the Directors to determine the Auditors' remuneration | 2,001,853 | 100.00 | 0 | 0.00 | 2,001,853 | 51.34 | 937,998 |
Independent Resolutions:
| |||||||
11. to re-elect Mrs M L Jarvis as a director of the Company | 179,481 | 16.06 | 938,268 | 83.94 | 1,117,749 | 28.67 | 400 |
12. to re-elect Mr A W Powell as a director of the Company | 179,831 | 16.08 | 938,218 | 83.92 | 1,118,049 | 28.68 | 100 |
Note: A 'vote withheld' is not a vote under English law and is not counted in the calculation of votes 'for' or 'against' a resolution.
The Directors note that while a significant majority of shareholders that voted at today's Annual General Meeting supported Resolutions 5, 6, 8 and 9, we are disappointed that a notable number of shareholders opposed these Resolutions. The Directors will engage with shareholders to obtain feedback on their concerns and will publish an update on that engagement within six months of the date of the Annual General Meeting.
The Company is also disappointed to note that Resolutions 11 and 12, to re-elect Mhairi Jarvis and Tony Powell as Directors of the Company, were not approved by a majority of the Company's independent shareholders. The Company is entitled, in accordance with the FCA's Listing Rules, to convene a general meeting (to be held within 90 and 120 days of today's date) at which resolutions may be put to the meeting to re-appoint Mhairi Jarvis and Tony Powell as Directors of the Company.
A further announcement will be made in due course.
~Ends~
For further information on the Company, visit: www.mountviewplc.co.uk
SPARK Advisory Partners Limited (Financial Adviser) | www.Sparkadvisorypartners.com |
Miriam Greenwood | 0203 368 3553 |
Mark Brady | 0203 368 3551 |