Last checked at 
3 Dec 2020 07:00
To: RNS
From: Target Healthcare REIT plc
LEI: 213800RXPY9WULUSBC04
Date: 3 December 2020
Subject: Annual General Meeting Result
Target Healthcare REIT plc announces that, at the Annual General Meeting held on 2 December 2020, all resolutions proposed were duly passed.
The full text of the resolutions can be found in the Annual Report and Financial Statements 2020 (including the Notice of Annual General Meeting), copies of which have been submitted to the National Storage Mechanism and which are available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Details of the proxy votes lodged before the Annual General Meeting, which should be read alongside the Notice of Annual General Meeting, are noted below and will be available shortly at www.targethealthcarereit.co.uk
| For | Against | Withheld | ||
| Number of votes | % | Number of votes | % | Number of votes |
1) Ordinary Resolution | 264,341,632 | 100.00 | 1,291 | 0.00 | - |
2) Ordinary Resolution | 260,215,271 | 98.83 | 3,090,104 | 1.17 | 1,037,548 |
3) Ordinary Resolution | 264,329,043 | 100.00 | 1,291 | 0.00 | 12,589 |
4) Ordinary Resolution | 253,750,161 | 99.99 | 14,165 | 0.01 | 10,578,597 |
5) Ordinary Resolution | 264,328,830 | 100.00 | 1,504 | 0.00 | 12,589 |
6) Ordinary Resolution | 263,281,636 | 99.99 | 24,541 | 0.01 | 1,036,746 |
7) Ordinary Resolution | 257,576,375 | 97.82 | 5,729,589 | 2.18 | 1,036,959 |
8) Ordinary Resolution | 263,281,636 | 99.99 | 24,541 | 0.01 | 1,036,746 |
9) Ordinary Resolution | 263,281,423 | 99.99 | 24,541 | 0.01 | 1,036,959 |
10) Ordinary Resolution | 263,281,423 | 99.99 | 24,754 | 0.01 | 1,036,746 |
11) Ordinary Resolution | 263,316,486 | 100.00 | 1,291 | 0.00 | 1,025,146 |
12) Special Resolution | 251,160,255 | 95.38 | 12,167,521 | 4.62 | 1,015,146 |
13) Special Resolution | 263,055,177 | 99.91 | 247,425 | 0.09 | 1,040,320 |
14) Special Resolution | 259,481,585 | 98.54 | 3,847,024 | 1.46 | 1,014,314 |
15) Special Resolution | 207,559,554 | 78.56 | 56,642,467 | 21.44 | 140,901 |
Whilst all resolutions proposed were duly passed, the Board recognise that a significant number of votes were lodged against resolution 15, which was in relation to the amendment of the Company's Articles of Association, primarily to permit the Company to hold shareholder meetings on a virtual basis whereby shareholders are not required to attend the meeting in person at a physical location but may instead attend and participate using electronic means.
The Board has engaged in consultation with some shareholders who together account for a significant proportion of such votes and who have expressed concern that, in theory, the structure of virtual-only meetings can prevent meaningful shareholder engagement and allow management to more easily avoid difficult questions. In order to address such concerns, the Directors therefore confirm that, notwithstanding the permissions granted by the New Articles, they intend that the Company reverts to physical meetings as soon as the restrictions on physical gatherings are lifted and it is safe to do so. The Board re-iterates its commitment to enabling shareholder attendance at meetings wherever possible and confirms that it does not intend to restrict the ability of shareholders to physically attend a shareholder meeting, except in limited situations such as where travel or congregation in a physical location at the date of the meeting is forecast to be difficult, dangerous or otherwise restricted by government guidance or legislation.
The Board of Directors also announces that, pursuant to paragraph 9.6.11 R of the Listing Rules, Ms Alison Fyfe has been appointed as Chair of the Nomination Committee with immediate effect.
For further information please contact:
Kenneth MacKenzie; Gordon Bland
Target Fund Managers Limited
01786 845 912
Mark Young
Stifel Nicolaus Europe Limited
020 7710 7600
Dido Laurimore; Claire Turvey; Richard Gotla
FTI Consulting
020 3727 1000
TargetHealthcare@fticonsulting.com