13 December 2024

LSL Property Services plc ("LSL" or "the Company")

Update on Annual General Meeting 2024 Resolution Vote

In accordance with Provision 4 of the UK Corporate Governance Code 2018, the Company is required to provide an update as it received a significant vote against (defined as over 20% of votes cast) a resolution at its annual general meeting ("AGM") held on 20 June 2024.  25.01% of those voting in relation to Resolution 4 (Gaby Appleton's re-election) voted against the resolution. 

The Chair had a dialogue with a broad group of shareholders (including both those that had voted for and those that voted against Resolution 4) shortly after the AGM in order to understand their views.  It is understood that the vote against Gaby's re-election was reflective of her position as Senior Independent Director ("SID") at a time when shareholders had raised issues with the Board on governance matters. 

At the meetings with the Chair, the shareholders confirmed that they were comfortable with the governance arrangements in place following the appointment of Adrian Collins as Chair on 1 May 2024.  James Mack took on the role of SID with effect from 5 March 2024.  Subsequently, a further independent non-executive director, Michael Stoop, has also been appointed to the Board

The Company therefore believes that the issue that prompted the significant vote against Gaby Appleton's re-election has now been resolved.  Any shareholders that wish to raise matters, including those referred to above, with the Chair can do so at any time by contacting the Company Secretary. 

For further information, please contact:

Debbie Fish, Company Secretary

[email protected]

LEI: 213800T4VM5VR3C7S706