TIDMSAFE
RNS Number : 1308T
Safestore Holdings plc
15 March 2023
15 March 2023
Safestore Holdings plc
("Safestore", "the Company" or "the Group")
Result of Annual General Meeting
Annual General Meeting
The 2023 Annual General Meeting of Safestore Holdings plc was
held at midday today at the Company's registered office in
Borehamwood, Hertfordshire.
All resolutions were passed by the requisite majority by way of
a poll.
The following votes were cast in respect of the AGM
resolutions:
% of
Issued
Total Votes Share
Votes (excluding Capital Votes
Resolution Votes For % Against % withheld) Voted Withheld
To receive
the Annual
Report and
1 Accounts 188,081,670 99.87% 238,869 0.13% 188,320,539 86.56% 396,665
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To approve
the Directors'
Remuneration
2 Report 140,636,482 74.66% 47,726,385 25.34% 188,362,867 86.58% 354,337
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To appoint
Deloitte
3 LLP as auditor 187,941,338 99.85% 288,793 0.15% 188,230,131 86.52% 487,073
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To authorise
the Directors
to determine
the auditors'
4 remuneration 187,897,590 99.57% 807,541 0.43% 188,705,131 86.73% 12,073
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To declare
a final
dividend
of 20.40
pence per
ordinary
5 share 188,382,765 99.83% 323,395 0.17% 188,706,160 86.73% 11,044
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To elect
6 Jane Bentall 188,050,154 99.65% 654,388 0.35% 188,704,542 86.73% 12,662
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To re-elect
David Hearn
7 as a Director 167,107,467 88.55% 21,598,575 11.45% 188,706,042 86.73% 11,162
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To re-elect
Frederic
Vecchioli
8 as a Director 186,013,813 98.57% 2,691,064 1.43% 188,704,877 86.73% 12,327
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To re-elect
Andy Jones
9 as a Director 186,742,151 98.96% 1,962,726 1.04% 188,704,877 86.73% 12,327
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To elect
Gert van
de Weerdhof
10 as a Director 177,512,074 94.07% 11,191,303 5.93% 188,703,377 86.73% 13,827
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To re-elect
Ian Krieger
11 as a Director 175,666,204 93.10% 13,014,973 6.90% 188,681,177 86.72% 36,027
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To re-elect
Laure Duhot
12 as a Director 177,249,134 93.93% 11,455,743 6.07% 188,704,877 86.73% 12,327
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To re-elect
Delphine
Mousseau
13 as a Director 182,496,449 96.71% 6,206,928 3.29% 188,703,377 86.73% 13,827
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To authorise
political
donations
and political
14 expenditure 183,902,979 97.46% 4,799,655 2.54% 188,702,634 86.73% 14,570
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To authorise
the directors
to allot
relevant
15 securities 168,212,044 89.36% 20,019,116 10.64% 188,231,160 86.52% 486,044
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To authorise
the
dis-application
of pre-emption
16 rights 185,106,232 98.09% 3,599,728 1.91% 188,705,960 86.73% 11,244
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To authorise
market
purchases
of ordinary
17 shares 187,439,884 99.6% 742,727 0.39% 188,182,611 86.49% 534,593
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
To authorise
general
meetings
(other than
annual general
meetings)
to be called
on not less
than 14
clear days'
18 notice meetings 172,902,112 91.63% 15,804,048 8.37% 188,706,160 86.73% 11,044
---------------- ------------------ --------- -------------------- -------- ------------------------ -------- ---------------------
Resolutions 1 to 15 were ordinary resolutions, requiring more
than 50 per cent. of shareholders' votes to be cast in favour of
the resolutions. Resolutions 16 to 18 were special resolutions,
requiring at least 75 per cent. of shareholders' votes to be cast
in favour of the resolutions.
Where shareholders appointed the Chairman of the meeting as
their proxy with discretion as to voting, their votes were cast in
favour of the resolutions and their shares have been included in
the "votes for" column.
A "vote withheld" is not a vote in law and is not counted in the
calculation of the percentages of votes cast for and against a
resolution.
Commenting on the result of the AGM David Hearn, Chairman of
Safestore said:
"The financial results for the year ended 31 October 2022
reported considerable strategic and financial progress for the
Group, which was especially impressive on the back of an
exceptionally strong year in 2021. I and the Board continue to be
impressed by the dedication and resilience of the store and Head
Office teams which have been instrumental in delivering this
progress. After an almost 87% turnout, I am pleased that all
resolutions were duly passed and would like to thank our
shareholders for their continued support.
Whilst we received strong support for the Directors'
Remuneration Report (Resolution 2), it was only at 74.66 %. The
Board appreciates that the 2017 Remuneration Policy continues to
divide opinion amongst some shareholders, even though it was voted
through in 2017. Shareholder engagement indicates that some
shareholders who voted against the 2017 Remuneration Policy at its
inception, have a policy to vote against all future remuneration
reports that reflect the subsequent execution of it. From specific
conversations with some of our leading shareholders they have
confirmed that their vote against the Remuneration Report does not
reflect a vote against either the management or the Board and that
they accept fully that the payouts, reflect the outstanding value
creation for all shareholders over the past five years which has
been a significant benefit to all our stakeholders.
As such, this vote does not represent a vote against Safestore's
current Remuneration Policy, which received over-whelming
shareholder approval at Safestore's 2020 Annual General Meeting. We
are currently engaging with shareholders on the formation of our
2023 Remuneration Policy, which we expect to submit for shareholder
approval, at a General Meeting, later this year."
The current issued capital of Safestore Holdings plc is
217,568,672 ordinary shares.
In accordance with LR 9.6.2, copies of the resolutions passed as
special business have been submitted to the Financial Conduct
Authority's National Storage Mechanism and will shortly be
available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
For further information, please contact:
Instinctif Partners
Guy Scarborough
Bryn Woodward 020 7457 2020
Notes to Editors
-- Safestore is the UK's largest self-storage group with 182
stores on 31 January 2023, comprising 130 wholly owned stores in
the UK (including 72 in London and the South East with the
remainder in key metropolitan areas such as Manchester, Birmingham,
Glasgow, Edinburgh, Liverpool, Sheffield, Leeds, Newcastle, and
Bristol), 29 wholly owned stores in the Paris region, 7 stores in
Spain, 10 stores in the Netherlands and 6 stores in Belgium. In
addition, the Group operates 7 stores in Germany under a Joint
Venture agreement with Carlyle.
-- Safestore operates more self-storage sites inside the M25 and
in central Paris than any competitor providing more proximity to
customers in the wealthiest and more densely populated UK and
French markets.
-- Safestore was founded in the UK in 1998. It acquired the
French business "Une Pièce en Plus" ("UPP") in 2004 which was
founded in 1998 by the current Safestore Group CEO Frederic
Vecchioli.
-- Safestore has been listed on the London Stock Exchange since
2007. It entered the FTSE 250 index in October 2015.
-- The Group provides storage to around 90,000 personal and business customers.
-- As of 31 January 2023, Safestore had a maximum lettable area
("MLA") of 7.852 million sq ft (excluding the expansion pipeline
stores) of which 6.095 million sq ft was occupied.
-- Safestore employs around 750 people in the UK, Paris, Spain, the Netherlands, and Belgium.
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