Civitas Social Housing PLC Update on Shareholder Views Following AGM (8747E)
March 16 2022 - 3:00AM
UK Regulatory
TIDMCSH
RNS Number : 8747E
Civitas Social Housing PLC
16 March 2022
16 March 2022
CIVITAS SOCIAL HOUSING PLC
("Civitas" or the "Company")
Update on Shareholder Views Following AGM
At the Company's AGM on 23 September 2022, the Board noted that
votes representing 27.11% of total votes cast were received against
Resolution 13, the non-market standard, additional 10% pre-emption
resolution. The authority granted in 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 AIC Code of Corporate Governance requires 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 its corporate brokers have engaged with the
largest shareholders who voted against this resolution. The Board
understands that these shareholders followed PIRC's or their own
internal recommendation to vote against this resolution as when
combined with the standard 10% pre-emption disapplication
resolution it would have resulted in the Company having authority
to issue up to 20% pre-emptively.
LEI: 213800PGBG84J8GM6F95
ENDS
For further information, please contact:
L ink Company Matters Limited (Company
Secretary) +44 1 392 477 500
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, Civitas has completed more than 120 individual
transactions to build the largest portfolio of its kind that has
been independently valued at GBP946.3million (30 September 2021).
CSH now provides homes for 4,404 working age adults with long-term
care needs, in 649 bespoke properties that are supported by 119
specialist care providers, 18 approved providers and working with
over 178 individual local authorities.
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END
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