Result of AGM

RNS Number : 7911V
Palace Capital PLC
25 July 2018
 

25 July 2018

 

Palace Capital PLC

("Palace Capital" or the "Company")

 

Result of AGM

 

Palace Capital, the property investment company that focusses on commercial property outside London, announces that at the Company's Annual General Meeting held earlier today, all resolutions were duly passed.

The resolutions were as set out in the Notice of Meeting, as filed with the National Storage Mechanism (www.morningstar.co.uk/uk/NSM) and are also available on the company's website, www.palacecapitalplc.com/.

There are a total of 45,805,280 ordinary shares in issue. Proxy appointments were received from shareholders holding 32,440,391 ordinary shares amounting to 70.8 per cent. of the issued ordinary share capital.

All resolutions were passed on a show of hands with resolutions 1 to 7 and 13 passed as ordinary resolutions and resolutions 8 to 12 passed as special resolutions.

 

Resolution

In Favour Votes


Against Votes


Withheld Votes


No.

%

No.

%








1.   Annual Report approval

                       32,268,127

                               99.47

               172,264

               0.53

                       -  

2.   Directors` Remuneration Report

                       31,472,546

                               97.03

               964,850

               2.97

                  2,995

3.   Declaration of dividend

                       32,403,619

                               99.99

                  3,124

                  0.01

                 33,648

4.   Reappointment and remuneration of the auditors

                       32,438,912

                               99.99

                  1,479

                  0.01

                       -  

5.   Re-election of Director

                       32,430,392

                               99.97

                  9,999

                  0.03


6.   Re-election of Director

                       32,437,205

                               99.99

                  3,186

                  0.01

                       -  

7.   Authority to allot ordinary shares

                       32,436,267

                               99.99

                  4,124

                  0.01

                       -  

8.   General disapplication of pre-emption rights

                       31,327,651

                               96.57

            1,112,738

             3.43

                         2

9.   Additional authority to disapply pre-emption rights

                       31,327,729

                               96.57

            1,111,260

             3.43

                  1,402

10. Market purchase of own shares

                       32,434,867

                               99.99

                  4,124

                  0.01

                  1,400

11. Adoption of new Articles of Association

                       32,435,166

                               99.99

                  3,125

                  0.01

                  2,100

12. Notice of General Meetings

                       32,429,589

                               99.97

                 10,800

                 0.03

                         2

13. Approval of Directors' remuneration policy

                       32,300,663

                               99.47

               173,706

               0.53

                 13,570

 

A vote withheld is not a vote in law and is not counted in the calculation of the number or % of votes "For" or "Against" a resolution.

 

 

For further information, contact:

 

Palace Capital plc

Neil Sinclair, Chief Executive

Stephen Silvester, Finance Director

Tel. +44 (0)20 3301 8331

 

Arden Partners plc (Lead Broker)

Chris Hardie / Ciaran Walsh / Alex Penney

Tel. +44 (0)207 614 5917

 

Allenby Capital Limited (Joint Broker)

Nick Naylor / James Reeve / Asha Chotai

Tel. +44 (0)20 3328 5656

 

Capital Access Group (Financial PR)

Scott Fulton

Tel. +44 (0)20 3763 3400

 

About Palace Capital plc (www.palacecapitalplc.com):

 

Palace Capital is a UK property investment company admitted to trading on the London Stock Exchange plc's main market (LSE: PCA). The Company is not sector specific and looks for opportunities where it can enhance the long-term income and capital value through asset management and strategic capital development in locations outside London. In its last reported financial year, Palace Capital produced a 27% increase in adjusted profit before tax, a 7% uplift in EPRA NAV per share from a post fundraise proforma base and a 3% increase in dividends for the year ending 31 March 2018.


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