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| Date | 13 Jul 2022 |
| Time | 15:17:33 |
| Category | AGMs and other meetings |
| ID | 3878S |
13 July 2022
LONDONMETRIC PROPERTY PLC
("LondonMetric" or "Company")
RESULT OF AGM
LondonMetric Property Plc announces that at its Annual General Meeting held earlier today, Wednesday 13 July 2022, all resolutions were duly passed with the requisite majority by means of a poll.
A copy of resolutions 15 to 20 (as set out in the notice of Annual General Meeting), being the resolutions passed at the Annual General Meeting not concerning ordinary business, is being submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
There were 980,144,326 ordinary shares in issue at the close of business on 11 July 2022 (being the total number of shares entitling holders to vote at the AGM).
All resolutions were decided on a poll and all valid proxy votes (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting. All resolutions proposed at the Annual General Meeting were passed by shareholders. The number of votes for and against each of the resolutions put before the Annual General Meeting and the number of votes withheld were as follows.
|
|
Resolution |
For Votes |
% of votes cast* |
Against Votes |
% of votes cast* |
Withheld Votes |
|
1 |
Receive the Annual Report and Accounts |
769,677,950 |
99.86% |
1,085,085 |
0.14% |
5,072,355 |
|
2 |
Approve the Annual Report on Remuneration |
729,175,951 |
94.68% |
40,978,748 |
5.32% |
5,680,691 |
|
3 |
Reappoint Deloitte LLP as Auditor |
770,732,031 |
99.93% |
571,890 |
0.07% |
4,531,469 |
|
4 |
Authorise Auditor's remuneration |
775,724,336 |
99.99% |
8,515 |
0.01% |
102,539 |
|
5 |
Re-election of Patrick Vaughan as a Director |
595,102,910 |
79.15% |
156,751,658 |
20.85% |
23,980,822 |
|
6 |
Re-election of Andrew Jones as a Director |
774,817,595 |
99.88% |
909,399 |
0.12% |
108,396 |
|
7 |
Re-election of Martin McGann as a Director |
772,706,171 |
99.61% |
3,019,351 |
0.39% |
109,868 |
|
8 |
Re-election of James Dean as a Director |
773,228,476 |
99.68% |
2,475,231 |
0.32% |
131,683 |
|
9 |
Re-election of Rosalyn Wilton as a Director |
775,451,684 |
99.96% |
273,838 |
0.04% |
109,868 |
|
10 |
Re-election of Andrew Livingston as a Director |
764,218,898 |
99.08% |
7,090,959 |
0.92% |
4,525,533 |
|
11 |
Re-election of Suzanne Avery as a Director |
769,685,072 |
99.22% |
6,018,635 |
0.78% |
131,683 |
|
12 |
Re-election of Robert Fowlds as a Director |
768,396,520 |
99.06% |
7,307,187 |
0.94% |
131,683 |
|
13 |
Re-election of Katerina Patmore as a Director |
775,429,869 |
99.96% |
273,838 |
0.04% |
131,683 |
|
14 |
Election of Alistair Elliott as a Director |
774,326,714 |
99.82% |
1,376,555 |
0.18% |
132,121 |
|
15 |
Authorise Directors to allot shares and equity securities |
727,711,862 |
93.81% |
48,020,174 |
6.19% |
103,354 |
|
16 |
Authorise Directors to offer ordinary shares in lieu of a cash dividend |
775,726,225 |
99.99% |
8,845 |
0.01% |
100,320 |
|
17 |
To disapply Section 561 of the Companies Act 2006 in respect of allotments |
775,287,148 |
99.94% |
431,381 |
0.06% |
116,861 |
|
18 |
To disapply Section 561 of the Companies Act 2006 in respect of specified allotments |
769,183,595 |
99.16% |
6,535,653 |
0.84% |
116,142 |
|
19 |
Authorise the Company to make market purchases of ordinary shares |
770,850,424 |
99.42% |
4,464,926 |
0.58% |
520,040 |
|
20 |
Authorise the Company to call a general meeting with no less than 14 days' notice |
710,562,496 |
91.60% |
65,173,293 |
8.40% |
99,601 |
* excluding votes withheld
Resolution 5
The Board notes the level of votes cast against Resolution 5, the re-election of Patrick Vaughan, which received 79.15% approval. We are engaging with shareholders who voted against the re-election to address their concerns and will report in due course. The Board strongly supports Patrick's re-election as Chair of the Board and Nomination Committee. In relation to Provision 19 of the Corporate Governance Code relating to the tenure of the Chair, the Board does not believe that Patrick's independence and objectivity is compromised by the length of his service, and values his property expertise and sound judgement. However, the search for a successor is underway. The Nomination Committee and Board is committed to strengthening female representation on the Board, which following this AGM has temporarily fallen below its 33% target and year end position, and will report on progress in due course.
-Ends-
LondonMetric Property Plc
Andrew Jones / Martin McGann
Tel: +44 (0) 20 7484 9000
FTI Consulting
Dido Laurimore / Richard Gotla/Andrew Davis
Tel: +44 (0) 20 3727 1000
Notes to editors:
LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a diversified long income portfolio, with 16 million sq ft under management. It owns and manages desirable real estate that meets occupiers' demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term. Further information is available at www.londonmetric.com