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| Date | 29 May 2025 |
| Time | 07:00:02 |
| Category | AGMs and other meetings |
| ID | 4790K |
29 May 2025
LSL Property Services plc (the Company)
Result of Annual General Meeting and General Meeting
The Company announces that all resolutions proposed at the Annual General Meeting (AGM) and a General Meeting held on 28 May 2025 were duly passed.
The results of the AGM are set out below.
|
Resolution *indicates Special Resolution |
Votes For (No. of shares) |
For (%) |
Votes Against (No. of shares) |
Against (%) |
Votes Withheld1 (No. of shares) |
|
1. To receive the Company's audited Annual Report and Accounts for the year ended 31 December 2024, together with the Reports of the Directors and auditor |
91,731,829 |
100.00% |
0 |
0.00% |
868 |
|
2. To approve the Directors' Remuneration Report (other than the part containing the Directors' Remuneration Policy) of the Company's audited Annual Report and Accounts for the year ended 31 December 2024 |
91,612,597 |
99.87% |
119,728 |
0.13% |
372 |
|
3. To declare a final dividend of 7.4 pence per ordinary share for the year ended 31 December 2024 |
91,732,697 |
100.00% |
0 |
0.00% |
0 |
|
4. To re-elect Gaby Appleton as a Director |
77,429,182 |
86.46% |
12,121,237 |
13.54% |
2,182,278 |
|
5. To re-elect Adam Castleton as a Director |
91,728,410 |
99.99% |
966 |
0.01% |
3,321 |
|
6. To re-elect Adrian Collins as a Director |
81,977,917 |
92.05% |
7,084,644 |
7.95% |
2,670,136 |
|
7. To re-elect Darrell Evans as a Director |
86,327,453 |
96.40% |
3,222,966 |
3.60% |
2,182,278 |
|
8. To re-elect Sonya Ghobrial as a Director |
87,922,318 |
98.18% |
1,628,101 |
1.82% |
2,182,278 |
|
9. To re-elect James Mack as a Director |
86,328,419 |
96.40% |
3,222,000 |
3.60% |
2,182,278 |
|
10. To elect Michael Stoop as a Director |
91,728,879 |
99.99% |
200 |
0.01% |
3,618 |
|
11. To appoint Grant Thornton UK LLP as auditor of the Company |
91,729,176 |
99.99% |
200 |
0.01% |
3,321 |
|
12. To authorise the Audit & Risk Committee acting on behalf of the Directors to determine the remuneration of the auditor |
91,728,804 |
99.99% |
200 |
0.01% |
3,693 |
|
13. To approve the rules of the LSL Property Services plc Long Term Incentive Plan (LTIP) |
87,807,174 |
98.15% |
1,652,285 |
1.85% |
2,273,238 |
|
14. To approve rules of the LSL Property Services plc Deferred Share Bonus Plan (DSBP) |
89,985,834 |
98.20% |
1,648,964 |
1.80% |
97,899 |
|
15. To approve the rules of the LSL Property Services plc Sharesave Plan (SAYE) |
89,987,281 |
98.20% |
1,648,385 |
1.80% |
97,031 |
|
16. To authorise the Directors to adopt further schemes based on the LTIP, DSBP and the SAYE |
91,627,051 |
99.99% |
11,936 |
0.01% |
93,710 |
|
17. To authorise the Directors to allot shares |
89,042,244 |
99.43% |
511,496 |
0.57% |
2,178,957 |
|
18. To authorise the disapplication of pre-emption rights* |
78,466,816 |
85.54% |
13,261,023 |
14.46% |
4,858 |
|
19. To authorise further disapplication of pre-emption rights* |
78,466,816 |
85.54% |
13,261,023 |
14.46% |
4,858 |
|
20. To authorise the Company to purchase its own ordinary shares* |
91,726,074 |
99.99% |
1,200 |
0.01% |
5,423 |
|
21. To authorise the making of political donations |
79,794,833 |
86.99% |
11,936,630 |
13.01% |
1,234 |
|
22. To authorise the Company to hold general meetings on not less than 14 clear days' notice* |
80,796,259 |
88.08% |
10,933,117 |
11.92% |
3,321 |
Following shareholder approval of Resolution 20, the Company confirms the continuation of its share buyback programme announced on 25 April 2024. The share buyback programme will continue until such time as the repurchase of ordinary shares reaches the programme's maximum consideration of £7m.
Copies of the special resolutions passed at the AGM will shortly be available via the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
The results of the General Meeting are set out below.
|
Resolution |
Votes For (No. of shares) |
For (%) |
Votes Against (No. of shares) |
Against (%) |
Votes Withheld1 (No. of shares) |
|
1. To approve the amendments to the Directors' Remuneration Policy |
57,244,076 |
64.13% |
32,023,435 |
35.87% |
2,178,660 |
|
2. To approve and adopt the LSL Property Services plc 2025 Long Term Incentive Plan ('LTIP') |
57,395,717 |
64.30% |
31,871,794 |
35.70% |
2,178,660 |
The Board has noted that around 35% of votes were voted against the two resolutions proposed to the General Meeting. The views of all of our shareholders are important to us and we will enter into a period of further consultation to understand specific concerns. In accordance with the UK Corporate Governance Code, we will publish an update in due course.
NOTES:
1. A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "for" and "against" a resolution.
For further information, please contact:
Burson Buchanan:
Helen Tarbet: +44 (0) 7872 604453
Toto Berger: +44 (0) 7880 680 403
Debbie Fish, Group Company Secretary
LEI: 213800T4VM5VR3C7S706