Result of AGM

RNS Number : 5788S
Land Securities Group PLC
09 July 2020
 

9 July 2020

 

Land Securities Group PLC (the "Company")

 

Voting results of Annual General Meeting

 

The Company announces the voting results of its Annual General Meeting ("AGM") held earlier today at 80 Victoria Street, London, SW1E 5JL. All resolutions, as set out in the Notice of Meeting dated 8 June 2020, were passed with the requisite majority by means of a poll.

 

Resolutions 1 to 15 were passed as Ordinary Resolutions and resolutions 16 to 18 were passed as Special Resolutions.

 

 

RESOLUTION

VOTES
FOR*

%

FOR

VOTES
AGAINST

TOTAL VOTES FOR / AGAINST
 

VOTES
WITHHELD**

1.

To receive the accounts of the Company for the year ended 31 March 2020 and the Directors' and Auditors' Reports thereon

529,157,279

99.99%

59,006

529,216,285

734,478

2.

To approve the Annual Report on Remuneration

474,927,370

89.72%

54,442,666

529,370,036

580,726

3.

To elect Mark Allan as a Director

529,331,341

99.98%

89,371

529,420,712

530,051

4.

To re-elect Martin Greenslade as a Director

528,063,258

99.74%

1,360,593

529,423,851

526,912

5.

To re-elect Colette O'Shea as a Director

529,292,834

99.98%

130,050

529,422,884

527,879

6.

To re-elect Edward Bonham Carter as a Director

421,559,368

79.63%

107,863,200

529,422,568

528,194

7.

To re-elect Nicholas Cadbury as a Director

529,058,262

99.93%

365,039

529,423,301

527,461

8.

To re-elect Madeleine Cosgrave as a Director

526,981,760

99.54%

2,441,654

529,423,414

527,348

9.

To elect Christophe Evain as a Director

523,437,860

98.87%

5,977,637

529,415,497

535,266

10.

To re-elect Cressida Hogg as a Director

527,429,763

99.62%

2,008,679

529,438,442

512,320

11.

To re-elect Stacey Rauch as a Director

481,061,728

90.87%

48,360,776

529,422,504

528,259

12.

To re-appoint Ernst & Young LLP as auditor

527,045,293

99.98%

118,275

527,163,568

2,787,195

13.

To determine the remuneration of the auditor

529,328,524

99.98%

115,049

529,443,573

507,190

14.

To make political donations

524,626,413

99.09%

4,800,064

529,426,477

524,286

15.

To allot securities

482,036,345

91.05%

47,395,888

529,432,233

518,530

16.

To disapply pre-emption rights

509,416,296

97.12%

15,093,839

524,510,135

5,440,628

17.

To disapply pre-emption rights for purposes of acquisitions or capital investments

505,799,400

96.43%

18,708,913

524,508,313

5,442,449

18.

To purchase own shares

523,636,687

98.96%

5,527,410

529,164,097

786,665

 

* Includes discretionary votes

**A vote withheld is not a vote in law and is therefore not included in the calculation of total votes For/Against

 

Total voting rights at 9 July 2020: 741,473,884 Ordinary shares of 10 2/3 p each

Number of votes per share:    One

Total number of votes cast: 529,443,573 Ordinary shares (i.e.71.40% turnout)

 

 

 

Closed meeting

Due to Covid-19 restrictions, the Company held a closed Annual General Meeting with only the minimum number of shareholders present who were all members of the Board / employees as required to form a quorum under the Company's articles of association. All valid proxy votes and voting instructions (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting.

 

Resolution 6

The Board notes the level of votes cast against Resolution 6, the re-election of Edward Bonham Carter, which received 79.63% approval. This is primarily driven by the votes from a small number of institutional shareholders.  We will engage with the shareholders who voted against Edward's re-election to understand what is causing the concern and will report in due course. 

 

The Board strongly supports Edward's re-appointment to the Board.  Edward has attended 100% of Board and Committee meetings over the last year and has dedicated additional time to contribute towards the appointment of the Company's new CEO.  The Board is therefore confident that Edward is able to continue to make an effective contribution to the Company's Board and its Committees.   The Nomination Committee carefully monitors all directors' external time commitments and would take appropriate action should concerns be identified.

 

 

Special business resolutions

In accordance with Listing Rule 9.6.2, copies of the resolutions passed as special business will shortly be available for inspection on the National Storage Mechanism at   https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism

 

 

A copy of the voting results shown above is also available on the Company's website at https://landsec.com/investors/shareholders-equity-investors/annual-general-meeting

 

 

END

 

For further information, please contact:

Land Securities Group PLC 

Tim Ashby

Group General Counsel & Company Secretary

Tel: +44(0) 20 7024 5256

 


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END
 
 
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