MOUNTVIEW ESTATES PLC

AGM Information • Aug 10, 2022

National Storage Mechanism | Additional information

RNS Number : 5986V

Mountview Estates PLC

10 August 2022

FOR IMMEDIATE RELEASE - 10 August 2022

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 10 August 2022. 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 for	%	Votes against	%		Votes total	% of issued share capital		Votes withheld (Note)
1. to receive and adopt the Annual Report and Accounts for the year ended 31 March 2022.	2,966,851	98.07	58,407	1.93		3,025,258	77.59		0
2. to declare a final dividend of 250 pence per share.	2,966,851	98.07	58,407	1.93		3,025,258	77.59		0
3. to re-elect Mrs M. M. Bray as a director of the Company.	2,963,321	97.95	61,937	2.05		3,025,258	77.59		0
4. to re-elect Mr D. M. Sinclair as a director of the Company.	2,948,531	97.46	76,727	2.54		3,025,258	77.59		0
5. to re-elect Ms M. L. Archibald as a director of the Company.	2,027,652	67.03	997,266	32.97		3,024,918	77.58		340
6. to re-elect Mr A. W. Powell as a director of the Company.	1,967,572	65.43	1,039,430	34.57		3,007,002	77.12		18,256
7. to re-elect Dr A. R. Williams as a director of the Company.	1,968,483	94.31	118,737	5.69		2,087,220	53.53		938,038
8.  to approve the Directors' Remuneration Report.	2,027,837	67.03	997,421		32.97	3,025,258		77.59	0
9. to approve the Directors' Remuneration Policy.	2,027,587	67.02	997,671		32.98	3,025,258		77.59	0
10.  to re-appoint BSG Valentine (UK) LLP as Auditors of the Company.	2,028,503	67.05	996,755		32.95	3,025,258		77.59	0
11.  to authorise the Directors to determine the Auditors' remuneration.	2,966,761	98.07	58,497		1.93	3,025,258		77.59	0
Independent Resolutions:
12. to re-elect Ms M. L. Archibald as a director of the Company.	338,618	25.35	997,266		74.65	1,335,884		34.26	14,845
13. to re-elect Mr A. W. Powell as a director of the Company.	278,538	21.13	1,039,430		78.87	1,317,968		33.80	32,761

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 Adviser)	www.sparkadvisorypartners.com
Mark Brady - 020 3368 3550

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