TIDMCSH
RNS Number : 7032W
Civitas Social Housing PLC
02 August 2018
CIVITAS SOCIAL HOUSING PLC
(the "Company")
Result of Annual General Meeting
The Company announced that at the Annual General Meeting held on
2 August 2018 all resolutions were passed on a show of hands,
including the following resolutions:
Resolution 11 (ordinary resolution): To authorise the Directors
to allot Ordinary shares pursuant to Section 551 of the Companies
Act 2006.
Resolution 12 (special resolution): To authorise the Directors
to allot equity securities for cash pursuant to Sections 570 and
573 of the Companies Act 2006 otherwise than in accordance with
statutory pre-emption rights.
Resolution 13 (special resolution): To authorise the Directors
to make market purchases of the Company's own Ordinary shares.
Resolution 14 (special resolution): To authorise the Directors
to make market purchases of the Company's own C shares.
Resolution 15 (special resolution): To hold general meetings
(other than annual general meetings) on 14 clear days' notice.
The proxy votes received in relation to the resolutions were as
follows:
Resolutions Votes For Votes Against Votes at Chairman's Votes Withheld
Discretion
Resolution
1 122,393,825 0 3,660 170,712
------------ -------------- -------------------- ---------------
Resolution
2 92,614,236 29,950,300 3,660 0
------------ -------------- -------------------- ---------------
Resolution
3 122,564,537 0 3,660 0
------------ -------------- -------------------- ---------------
Resolution
4 112,557,753 10,006,783 3,660 0
------------ -------------- -------------------- ---------------
Resolution
5 122,508,054 56,483 3,660 0
------------ -------------- -------------------- ---------------
Resolution
6 122,508,054 56,483 3,660 0
------------ -------------- -------------------- ---------------
Resolution
7 112,557,753 10,006,783 3,660 0
------------ -------------- -------------------- ---------------
Resolution
8 122,564,537 0 3,660 0
------------ -------------- -------------------- ---------------
Resolution
9 122,564,537 0 3,660 0
------------ -------------- -------------------- ---------------
Resolution
10 122,564,537 0 3,660 0
------------ -------------- -------------------- ---------------
Resolution
11 122,562,325 2,212 3,660 0
------------ -------------- -------------------- ---------------
Resolution
12 122,529,603 7,854 3,660 27,080
------------ -------------- -------------------- ---------------
Resolution
13 122,559,683 4,854 3,660 0
------------ -------------- -------------------- ---------------
Resolution
14 122,559,683 4,854 3,660 0
------------ -------------- -------------------- ---------------
Resolution
15 120,259,692 2,300,845 3,660 4,000
------------ -------------- -------------------- ---------------
The Board has noted the substantial votes against Resolution 2,
the Directors' Remuneration Report. The Board is aware that the
recommendation to vote against this specific resolution came from
PIRC and was due to the increase in the Chairman's fee. The Board
notes that ISS recommended to vote in favour of this
resolution.
During the period under review, the non-executive Directors'
fees were increased from GBP30,000 to GBP32,000 per annum and the
non-executive Chairman's fee was increased from GBP35,000 to
GBP50,000 per annum. As part of the discussion to increase the
fees, the Board carried out a benchmarking exercise looking at
comparative fees of other REIT's and noted that the previous levels
of fees were below the market average. The Board also noted the
market capitalisation of the Company, the number of transactions
being undertaken and the number of additional Board meetings that
were being held as a result. There were 19 meetings held during the
year.
A copy of the full text of Resolutions 11 to 15 will be
submitted to the National Storage Mechanism and will shortly be
available for inspection at www.morningstar.co.uk/uk/NSM
LEI: 213800PGBG84J8GM6F95
For further information, please contact:
Civitas Housing Advisors Limited
Paul Bridge Tel: +44 (0)20 3058 4844
Andrew Dawber Tel: +44 (0)20 3058 4846
Cenkos Securities PLC
Sapna Shah Tel: +44 (0)20 7397 1922
Tom Scrivens Tel: +44 (0)20 7397 1915
Pagefield
Philip Dennis Tel: +44 (0)7947 868206
David Leslie Tel: +44 (0)7584 070274
Notes:
Civitas Social Housing PLC is the first Real Estate Investment
Trust offering pure play exposure to social housing in England and
Wales. The Company is managed by Civitas Housing Advisors Limited.
The Company is listed on the premium listing segment of the
Official List of the Financial Conduct Authority and was admitted
to trading on the main market for listed securities of the London
Stock Exchange in November 2016.
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END
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