Result of AGM

RNS Number : 3931Y

Civitas Social Housing PLC

08 September 2020

 

CIVITAS SOCIAL HOUSING PLC

(the "Company")

Result of Annual General Meeting

The Company is pleased to announce that at the Annual General Meeting ("AGM") held today, all resolutions were passed on a poll.

Resolutions 1 to 11 and 15 were proposed as Ordinary Resolutions.  Resolutions 12 to 14 and 16 were proposed as Special Resolutions.

The total number of proxy votes received in relation to each resolution were as follows:

Resolutions	Votes For	% For	Votes Against	% Against	Votes at Chairman's Discretion	Votes Withheld
Resolution 1	306,937,208	100.00%	250	0.00%	100,598	408,015
Resolution 2	307,301,157	9 9.99%	33,515	0.01%	100,598	10,801
Resolution 3	307,335,840	100.00%	4,250	0.00%	100,598	5,383
Resolution 4	306,613,225	9 9.76%	726,865	0.24%	100,598	5,383
Resolution 5	306,613,225	99.76%	726,865	0.24%	100,598	5,383
Resolution 6	305,959,463	99.55%	1,380,627	0.45%	100,598	5,383
Resolution 7	306,613,225	99.76%	726,865	0.24%	100,598	5,383
Resolution 8	307,301,310	99.99%	33,064	0.01%	100,598	11,099
Resolution 9	307,244,359	99.97%	96,715	0.03%	100,598	4,399
Resolution 10	307,345,223	100.00%	250	0.00%	100,598	0
Resolution 11	307,340,824	100.00%	250	0.00%	100,598	4,399
Resolution 12	283,970,561	94.40%	16,834,289	5.60%	100,598	6,540,622
Resolution 13	253,171,081	82.40%	54,077,926	17.60%	100,598	96,465
Resolution 14	296,279,879	96.40%	11,056,812	3.60%	100,598	8,782
Resolution 15	307,336,840	100.00%	8,633	0.00%	100,598	0
Resolution 16	307,332,441	100.00%	4,250	0.00%	100,598	8,782

The Board notes that votes representing 17.6% of total votes cast were received against the market standard 14.99% share buyback resolution, following the recommendation of Pensions and Investment Research Consultants Limited ("PIRC"), a proxy adviser.

The UK Corporate Governance Code (the "UK Code") notes that where a significant proportion of votes have been cast against a resolution at a general meeting, a company should explain what actions it has taken to understand the reasons behind the vote.  The Company, via their corporate broker, have spoken to the largest shareholders who voted against this resolution and those shareholders remain in favour of the Company's approach to buybacks, in spite of PIRC's recommendation to vote against this resolution.

A copy of the full text of Resolutions 11 to 16 will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

LEI: 213800PGBG84J8GM6F95

For further information, please contact:

Civitas Investment Management Limited
Paul Bridge	Tel: [phone]
Andrew Dawber	Tel: [phone]
Panmure Gordon
Sapna Shah	Tel: [phone]
Tom Scrivens	Tel: [phone]
Liberum Capital Limited
Gillian Martin / Chris Clarke	Tel: [phone]
Buchanan
Helen Tarbet / Henry Wilson	Tel: [phone]

Notes:

Civitas Social Housing PLC (CSH) was created in 2016 by Civitas Investment Management Limited as the first dedicated London listed REIT, to raise long-term, sustainable, institutional capital to invest in care-based social homes and healthcare facilities across the UK. So far, CSH has completed more than 120 individual transactions to build the largest portfolio of its kind that has been independently valued at £885 million (as at 30 June 2020). CSH provides homes for 4,292 working age adults with long-term care needs, in 618 bespoke properties that are supported by 118 specialist care providers, 15 housing associations over 164 individual local authority areas.

 

END

 

 

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