Last checked at 20 Mar 2019 15:45
20 March 2019
Safestore Holdings plc
("Safestore", "the Company" or "the Group")
Result of Annual General Meeting
The 2019 Annual General Meeting of Safestore Holdings plc was held at midday today at the Company's registered office in Borehamwood, Hertfordshire.
All resolutions were passed by the requisite majority by way of a poll.
Commenting on the result of the AGM Alan Lewis, Chairman of Safestore said:
"I am pleased that all resolutions were duly passed and would like to thank our shareholders for their continued support. The Board recognises however, that some shareholders continue to vote against our remuneration report and the re-election of our Remuneration Committee Chair.
Over the course of the year the Board has engaged extensively with a significant number of our large institutional shareholders and investor bodies to understand what changes to the remuneration policy and LTIP would alleviate concerns around the structure.
As a result of this consultation exercise, changes were made to the operation of our remuneration policy in line with suggestions made by shareholders and their representative bodies. This has led to a marked increase in support for our remuneration report. We will continue to engage with shareholders on remuneration and governance matters and are committed to consulting on an on-going basis regarding the formation of the next remuneration policy and LTIP this summer.
The financial results for the year ended 31 October 2018 were a continuation of the strong performance of the business since 2013, when the current team took over the management of Safestore, and we look forward to delivering further shareholder value."
The following votes were cast in respect of the AGM resolutions:
| Ordinary Resolution | Votes For | % | Votes Against | % | Votes Total (excluding withheld) | % of Issued Share Capital Voted | Votes Withheld |
1 | To receive the Annual Report and Accounts | 165,731,295 | 99.99% | 24,459 | 0.01% | 165,755,754 | 78.93% | 843,523 |
2 | To approve the Directors' Remuneration Report | 114,577,548 | 70.37% | 48,234,542 | 29.63% | 162,812,090 | 77.53% | 3,787,187 |
3 | To appoint Deloitte LLP as auditor | 165,992,528 | 99.71% | 483,828 | 0.29% | 166,476,356 | 79.27% | 122,921 |
4 | To authorise the Directors to determine the auditors' remuneration | 166,473,734 | 100.00% | 2,622 | 0.00% | 166,476,356 | 79.27% | 122,921 |
5 | To declare a final dividend of 11.15 pence per ordinary share | 166,480,320 | 100.00% | 4 | 0.00% | 166,480,324 | 79.27% | 118,953 |
6 | To re-elect Alan Lewis as a Director | 134,247,172 | 88.84% | 16,863,960 | 11.16% | 151,111,132 | 71.95% | 15,488,145 |
7 | To re-elect Frederic Vecchioli as a Director | 165,947,495 | 99.68% | 532,244 | 0.32% | 166,479,739 | 79.27% | 119,538 |
8 | To re-elect Andy Jones as a Director | 165,721,275 | 99.54% | 758,464 | 0.46% | 166,479,739 | 79.27% | 119,538 |
9 | To re-elect Ian Krieger as a Director | 143,976,485 | 86.48% | 22,503,254 | 13.52% | 166,479,739 | 79.27% | 119,538 |
10 | To re-elect Joanne Kenrick as a Director | 145,096,606 | 87.16% | 21,383,133 | 12.84% | 166,479,739 | 79.27% | 119,538 |
11 | To elect Claire Balmforth as a Director | 126,775,428 | 76.64% | 38,635,803 | 23.36% | 165,411,231 | 78.76% | 1,188,046 |
12 | To elect Bill Oliver as a Director | 145,321,802 | 87.29% | 21,157,937 | 12.71% | 166,479,739 | 79.27% | 119,538 |
13 | To authorise political donations and political expenditure | 159,969,444 | 99.59% | 652,164 | 0.41% | 160,621,608 | 76.48% | 5,977,669 |
14 | To authorise the directors to allot relevant securities | 160,164,569 | 96.21% | 6,315,755 | 3.79% | 166,480,324 | 79.27% | 118,953 |
| Special Resolution* |
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15 | To authorise the dis-application of pre-emption rights | 165,375,964 | 99.81% | 307,437 | 0.19% | 165,683,401 | 78.89% | 915,876 |
16 | To authorise market purchases of ordinary shares | 165,645,076 | 99.99% | 23,665 | 0.01% | 165,668,741 | 78.89% | 939,536 |
17 | To authorise general to be called on not less than 14 clear days' notice meetings other than annual general meetings | 154,672,121 | 92.91% | 11,808,203 | 7.09% | 166,480,324 | 79.27% | 118,953 |
*Special Resolutions requiring a 75% majority
Notes
Where shareholders appointed the Chairman as their proxy with discretion as to voting, their votes were cast in favour of the resolutions and their shares have been included in the "votes for" column.
A "vote withheld" is not a vote in law and is not counted in the calculation of the percentages of votes cast for and against a resolution.
The current issued capital of Safestore Holdings plc is 210,011,217 shares.
In accordance with LR 9.6.2, copies of the resolutions passed as special business will be forwarded to the FCA for publication through the Document Viewing Facility and will be accessible via the National Storage Mechanism website at http://www.morningstar.co.uk/uk/NSM
For further information, please contact:
Safestore Holdings plc Helen Bramall, Interim Company Secretary | 020 8732 1500 |
www.safestore.com |
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Instinctif Partners Guy Scarborough | 020 7457 2020 |
Notes to editors:
About Safestore
· Safestore is the UK's largest self-storage group with 146 stores at 31 October 2018 comprising 119 wholly owned stores in the UK (including 67 in London and the South East with the remainder in key metropolitan areas such as Manchester, Birmingham, Glasgow, Edinburgh, Liverpool and Bristol) and 27 wholly owned stores in the Paris region.
· Safestore operates more self-storage sites inside the M25 and in central Paris than any competitor providing more proximity to customers in the wealthiest and densest UK and French markets.
· Safestore was founded in the UK in 1998. It acquired the French business "Une Pièce en Plus" ("UPP") in 2004 which was founded in 1998 by the current Safestore Group CEO Frederic Vecchioli.
· Safestore has been listed on the London Stock Exchange since 2007. It entered the FTSE 250 index in October 2015.
· Safestore employs around 650 people in the UK and France.