13 Sep 2021 09:00
STENPROP LIMITED
(Registered in Guernsey)
(Registration number 64865)
LSE share code: STP JSE share code: STP
ISIN: GG00BFWMR296
("Stenprop" or the "Company")
RESULTS OF ANNUAL GENERAL MEETING AND FINALISATION ANNOUNCEMENT IN RESPECT OF THE NAME CHANGE
13 September 2021
Results of annual general meeting
Shareholders are advised that at the annual general meeting of shareholders held on Friday, 10 September 2021 (in terms of the notice of annual general meeting dispatched to shareholders on Thursday, 29 July 2021), resolutions 1 to 14 were passed as ordinary resolutions; resolutions 15 to 17 were passed as extraordinary resolutions; and resolutions 18 and 19 were passed as special resolutions by the requisite majority of shareholders.
Details of the results of voting at the annual general meeting are as follows:
- total number of Stenprop shares that could have been voted at the annual general meeting: 290,785,827; and
- total number of Stenprop shares that were voted in person or by proxy at the annual general meeting: 137,770,782 (being 47.38% of the total number of shares that could have been voted at the meeting).
Ordinary resolutions
Resolution 1: To receive the Directors' and auditor's reports and the audited financial statements of the Company for the year ended 31 March 2021
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Shares voted* 137,770,782, being 46.11% | For 137,762,296, being 99.99% | Against 8,486, being 0.01% | Abstentions^ 56,357, being 0.02% |
Resolution 2: To approve the Directors' remuneration policy
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Shares voted* 137,545,838, being 46.04% | For 116,346,416, being 84.59% | Against 21,199,422, being 15.41% | Abstentions^ 281,301, being 0.09% |
Resolution 3: To approve the Directors' remuneration implementation report
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Shares voted* 137,545,838, being 46.04%
| For 117,109,609, being 85.14% | Against 20,436,229, being 14.86% | Abstentions^ 281,301, being 0.09% |
Resolution 4: To confirm the appointment of Louisa Bell as a director of the Company | |||
Shares voted* 137,767,382, being 46.11% | For 137,758,896, being 99.99% | Against 8,486, being 0.01% | Abstentions^ 59,757, being 0.02% |
Resolution 5: To confirm the appointment of Richard Smith as a director of the Company
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Shares voted* 137,770,782, being 46.11% | For 137,762,296, being 99.99% | Against 8,486, being 0.01% | Abstentions^ 56,357, being 0.02% |
Resolution 6: To re-elect Patsy Watson as director of the Company
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Shares voted* 135,187,777, being 45.25% | For 128,114,416, being 94.77% | Against 7,073,361, being 5.23% | Abstentions^ 2,639,362, being 0.88% |
Resolution 7: To re-elect Richard Grant as a director of the Company
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Shares voted* 137,692,502, being 46.09% | For 135,409,634, being 98.34% | Against 2,282,868, being 1.66% | Abstentions^ 134,637, being 0.05% |
Resolution 8: To re-elect Paul Arenson as a director of the Company
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Shares voted* 137,692,502, being 46.09% | For 137,001,271, being 99.50% | Against 691,231, being 0.50% | Abstentions^ 134,637, being 0.05% |
Resolution 9: To re-elect Julian Carey as a director of the Company
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Shares voted* 137,692,502, being 46.09% | For 137,002,333, being 99.50% | Against 690,169, being 0.50% | Abstentions^ 134,637, being 0.05% |
Resolution 10: To re-elect Philip Holland as a director of the Company
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Shares voted* 137,767,382, being 46.11% | For 131,042,653, being 95.12% | Against 6,724,729, being 4.88% | Abstentions^ 59,757, being 0.02% |
Resolution 11: To re-elect Paul Miller as a director of the Company
| |||
Shares voted* 135,191,177, being 45.25% | For 130,720,131, being 96.69% | Against 4,471,046, being 3.31% | Abstentions^ 2,635,962, being 0.88% |
Resolution 12: To re-elect James Beaumont as a director of the Company
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Shares voted* 137,770,782, being 46.11% | For 136,416,090, being 99.02% | Against 1,354,692, being 0.98% | Abstentions^ 56,357, being 0.02% |
Resolution 13: To re-appoint BDO LLP as auditor of the Company
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Shares voted* 137,770,782, being 46.11% | For 132,734,195, being 96.34% | Against 5,036,587, being 3.66% | Abstentions^ 56,357, being 0.02% |
Resolution 14: To authorise the Directors to fix the remuneration of the auditor
| |||
Shares voted* 137,770,782, being 46.11% | For 132,812,475, being 96.40% | Against 4,958,307, being 3.60% | Abstentions^ 56,357, being 0.02% |
Extraordinary resolutions
Resolution 15: To authorise the Company to issue, or sell from treasury, equity securities for cash in accordance with the terms of Resolution 15
| |||
Shares voted* 137,549,238, being 46.04% | For 116,941,700, being 85.02% | Against 20,607,538, being 14.98% | Abstentions^ 277,901, being 0.09% |
Resolution 16: To authorise the Company to issue or sell from treasury, equity securities for cash in accordance with the terms of Resolution 16
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Shares voted* 137,549,238, being 46.04% | For 112,527,748, being 81.81% | Against 25,021,490, being 18.19% | Abstentions^ 277,901, being 0.09% |
Resolution 17: To authorise the Company by way of a general authority to make market acquisitions of the Company's ordinary shares
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Shares voted* 137,549,238, being 46.04% | For 129,709,563, being 94.30% | Against 7 839,675, being 5.70% | Abstentions^ 277,901, being 0.09% |
Special resolutions
Resolution 18: That the name of the Company be changed to "Industrials REIT Limited", with effect from 21 September 2021
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Shares voted* 137,692,502, being 46.09% | For 137,684,016, being 99.99% | Against 8,486, being 0.01% | Abstentions^ 134,637, being 0.05% |
Resolution 19: That the amended memorandum and articles of incorporation be adopted as the memorandum and articles of incorporation of the Company in substitution for, and to the exclusion of, the existing memorandum and articles of incorporation of the Company with effect from 21 September 2021.
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Shares voted* 137,770,782, being 46.11% | For 137,762,296, being 99.99% | Against 8,486, being 0.01% | Abstentions^ 56,357, being 0.02% |
* shares voted in relation to the total shares in issue, being 298,775,175.
^ in relation to total shares in issue, being 298,775,175.
Finalisation in respect of the name change
Shareholders are referred to the announcement released on SENS and RNS on 29 July 2021 advising shareholders of, inter alia, the proposed change of name of the Company from "Stenprop Limited" to "Industrials REIT Limited" (the "name change").
As indicated above, the special resolution in respect of the name change was approved by shareholders at the annual general meeting and accordingly, the name change will be implemented in accordance with the salient dates and times published on 29 July 2021 and will take effect on 21 September 2021.
For further information:
Stenprop Limited +44(0)20 3918 6600
Paul Arenson (paul.arenson@stenprop.com)
Julian Carey (julian.carey@stenprop.com)
James Beaumont (james.beaumont@stenprop.com)
Numis Securities Limited (Financial Adviser) +44(0)20 7260 1000
Hugh Jonathan
Vicki Paine
FTI Consulting +44(0)20 3727 1000
Richard Sunderland stenprop@fticonsulting.com
Richard Gotla
Indraneel Bose
Java Capital Trustees and Sponsors Proprietary Limited +27 (0)11 722 3050
(JSE Sponsor)
About Stenprop:
Stenprop is a UK REIT listed on the Specialist Fund Segment of the London Stock Exchange and the Johannesburg Stock Exchange. We specialise in the ownership and operation of UK multi-let industrial (MLI) property. Our purpose is to revolutionise the MLI sector in the UK for the benefit of our stakeholders. Our goal is to be the leading MLI business in the UK. For further information, go to stenprop.com.