TIDMCSH
RNS Number : 6804M
Civitas Social Housing PLC
23 September 2021
23 September 2021
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 yesterday, all resolutions except for
Resolution 13 were passed on a poll.
The Board notes that votes representing 27.11% of total votes
cast were received against Resolution 13, the non-market standard,
additional 10% pre-emption resolution, following the recommendation
of Pensions and Investment Research Consultants Limited ("PIRC"), a
proxy adviser. The UK Corporate Governance 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 brokers, intend to speak to the largest
shareholders who voted against this resolution and whom they
understand followed PIRC's recommendation to vote against this
resolution.
As was noted in the AGM notice, the Directors are aware that the
combined authority to dis-apply pre-emption rights in respect of up
to 20% of the Company's issued ordinary share capital sought under
Resolutions 12 and 13 is higher than the 10% typically sought by
investment companies, although other listed REITs have this year
received such additional authority from their shareholders. The
authority now granted under Resolution 12 still permits the Company
in aggregate, to issue up to 10% of the number of Ordinary Shares
in issue at the AGM at a premium to NAV. The Directors respect the
wishes of certain shareholders not to increase this threshold at
the present time.
Resolutions 1 to 11 were proposed as Ordinary Resolutions.
Resolutions 12 to 15 were proposed as Special Resolutions.
The results of the poll in relation to each resolution were as
follows:
Resolutions Votes % Votes % Against Votes
For For Against Withheld
Resolution
1 277,216,621 99.99% 27,601 0.01% 414,115
------------ ------- ----------- ---------- -----------
Resolution
2 277,364,265 99.91% 250,858 0.09% 43,214
------------ ------- ----------- ---------- -----------
Resolution
3 250,752,895 96.41% 9,331,376 3.59% 17,574,066
------------ ------- ----------- ---------- -----------
Resolution
4 254,076,487 99.87% 333,367 0.13% 23,248,483
------------ ------- ----------- ---------- -----------
Resolution
5 253,356,077 99.58% 1,057,157 0.42% 23,245,103
------------ ------- ----------- ---------- -----------
Resolution
6 254,057,971 99.86% 355,263 0.14% 23,245,103
------------ ------- ----------- ---------- -----------
Resolution
7 250,752,895 98.57% 3,645,159 1.43% 23,260,283
------------ ------- ----------- ---------- -----------
Resolution
8 263,017,391 94.75% 14,582,987 5.25% 57,959
------------ ------- ----------- ---------- -----------
Resolution
9 277,585,975 99.99% 38,663 0.01% 33,699
------------ ------- ----------- ---------- -----------
Resolution
10 277,602,001 99.99% 25,192 0.01% 31,144
------------ ------- ----------- ---------- -----------
Resolution
11 277,533,236 99.96% 107,658 0.04% 17,443
------------ ------- ----------- ---------- -----------
Resolution
12 261,782,773 94.28% 15,869,921 5.72% 5,643
------------ ------- ----------- ---------- -----------
Resolution
13 189,616,563 72.89% 70,514,549 27.11% 17,527,225
------------ ------- ----------- ---------- -----------
Resolution
14 260,091,731 93.71% 17,457,799 6.29% 108,807
------------ ------- ----------- ---------- -----------
Resolution
15 268,323,664 96.65% 9,305,155 3.35% 29,518
------------ ------- ----------- ---------- -----------
A copy of the full text of Resolutions 12 to 15 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: +44 (0)20 3058 4844
Panmure Gordon
Sapna Shah Tel: +44 (0)20 7886 2783
Tom Scrivens Tel: +44 (0) 20 7886 2648
Liberum Capital Limited
Chris Clarke Tel: +44 (0) 20 3100 2000
D arren Vickers
O wen Matthews
Buchanan
Helen Tarbet / Henry Tel: +44 (0) 20 7466 5000
Wilson
Hannah Ratcliff / civitas@buchanan.uk.com
George Beale
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 across the UK. So far, Civitas
has completed more than 120 individual transactions to build the
largest portfolio of its kind that has been independently valued at
GBP915.6 million (31 March 2021). CSH now provides homes for 4,391
working age adults with long-term care needs, in 648 bespoke
properties that are supported by 119 specialist care providers, 16
approved providers and working with over 178 individual local
authorities.
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END
RAGSEUFAEEFSESU
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September 23, 2021 02:00 ET (06:00 GMT)
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