Mountview Estates PLC Result of Annual General Meeting (9521V)

TIDMMTVW

RNS Number : 9521V

Mountview Estates PLC

12 August 2020

FOR IMMEDIATE RELEASE - 12 August 2020

MOUNTVIEW ESTATES P.L.C.

Mountview Estates P.L.C.

("Mountview" or "the Company")

Result of Annual General Meeting

Mountview Estates P.L.C. announces the results of the voting on the resolutions at the Annual General Meeting held on 12 August 2020. A poll was held on each of the Resolutions. Resolutions 1 to 11 were passed by the requisite majority.

All the Poll results of are set out below:

 
     Resolution         Votes       %        Votes       %     Votes total     % of     Votes withheld 
                         for                against                           issued        (Note) 
                                                                               share 
                                                                              capital 
 1. to receive 
  and adopt 
  the Annual 
  Report and 
  Accounts 
  for the 
  year ended 
  31 March 
  2020                3,068,886   100.00           0    0.00     3,068,886      78.71                0 
                     ----------  -------  ----------  ------  ------------  ---------  --------------- 
 2. to declare 
  a final 
  dividend 
  of 200 pence 
  per share           3,068,886   100.00           0    0.00     3,068,886      78.71                0 
                     ----------  -------  ----------  ------  ------------  ---------  --------------- 
 3. to re-elect 
  Mrs M M 
  Bray as 
  a director 
  of the Company      3,068,836    99.99          50    0.01     3,068,886      78.71                0 
                     ----------  -------  ----------  ------  ------------  ---------  --------------- 
 4. to re-elect 
  Mr D M Sinclair 
  as a director 
  of the Company      3,068,836    99.99          50    0.01     3,068,886      78.71                0 
                     ----------  -------  ----------  ------  ------------  ---------  --------------- 
 5. to re-elect 
  Ms M L Archibald 
  as a director 
  of the Company      2,130,538    69.42     938,348   30.58     3,068,886      78.71                0 
                     ----------  -------  ----------  ------  ------------  ---------  --------------- 
 6. to re-elect 
  Mr A W Powell 
  as a director 
  of the Company      2,068,123    67.29   1,003,763   32.71     3,068,886      78.71                0 
                     ----------  -------  ----------  ------  ------------  ---------  --------------- 
 7. to re-elect 
  Dr A R Williams 
  as a director 
  of the Company      2,065,423    96.93      65,465    3.07     2,130,888      54.65          937,998 
                     ----------  -------  ----------  ------  ------------  ---------  --------------- 
 
 
 8. to approve 
  the Directors' 
  Remuneration 
  Report              2,130,838   69.43     938,048   30.57   3,068,886   78.71   0 
 9. to approve 
  the Directors' 
  Remuneration 
  Policy              2,130,737   69.43     938,149   30.57   3,068,886   78.71   0 
                     ----------  ------  ----------  ------  ----------  ------ 
 10. to re-appoint 
  Messrs BSG 
  Valentine 
  as Auditors 
  of the Company      2,130,838   69.43     938,048   30.57   3,068,886   78.71   0 
                     ----------  ------  ----------  ------  ----------  ------ 
 11. to authorise 
  the Directors 
  to determine 
  the Auditors' 
  remuneration        3,068,836   99.99          50    0.01   3,068,886   78.71   0 
                     ----------  ------  ----------  ------  ----------  ------ 
 
   Independent Resolutions: 
 12. to re-elect 
  Ms M L Archibald 
  as a director 
  of the Company        268,364   22.24     938,348   77.76   1,206,712   30.95   0 
                     ----------  ------  ----------  ------  ----------  ------ 
 13. to re-elect 
  Mr A W Powell 
  as a director 
  of the Company        202,949   16.82   1,003,763   83.18   1,206,712   30.95   0 
                     ----------  ------  ----------  ------  ----------  ------

Note: A 'vote withheld' is not a vote under English law and is not counted in the calculation of votes 'for' or 'against' a resolution.

The Directors note that while a significant majority of shareholders that voted at the Annual General Meeting supported Resolutions 5, 6, 8, 9 and 10, we are disappointed that a notable number of shareholders opposed these Resolutions. The Directors intend to engage with shareholders to obtain feedback on their concerns and will publish an update on that engagement within six months of the date of the Annual General Meeting.

The Company is also disappointed to note that Resolutions 12 and 13, to re-elect Mhairi Archibald and Tony Powell as Directors of the Company, were not approved by a majority of the Company's independent shareholders. The Company is entitled, in accordance with the FCA's Listing Rules, to convene a general meeting (to be held within 90 and 120 days of today's date) at which resolutions may be put to the meeting to re-appoint Mhairi Archibald and Tony Powell as Directors of the Company.

A further announcement will be made in due course.

As as the date of the Annual General Meeting, the Company's issued share capital was 3,899,014 ordinary shares carrying one vote each.

Ends

For further information on the Company, visit: www.mountviewplc.co.uk

 
 SPARK Advisory Partners Limited (Financial   www.sparkadvisorypartners.com 
  Adviser) 
 Mark Brady - 020 3368 3551

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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