Land Securities Group PLC

AGM Information • Jul 9, 2020

National Storage Mechanism | Additional information

RNS Number : 5788S

Land Securities Group PLC

09 July 2020

9 July 2020

Land Securities Group PLC (the "Company")

Voting results of Annual General Meeting

The Company announces the voting results of its Annual General Meeting ("AGM") held earlier today at 80 Victoria Street, London, SW1E 5JL. All resolutions, as set out in the Notice of Meeting dated 8 June 2020, were passed with the requisite majority by means of a poll.

Resolutions 1 to 15 were passed as Ordinary Resolutions and resolutions 16 to 18 were passed as Special Resolutions.

	RESOLUTION	VOTES FOR*	% FOR	VOTES AGAINST	TOTAL VOTES FOR / AGAINST	VOTES WITHHELD**
1.	To receive the accounts of the Company for the year ended 31 March 2020 and the Directors' and Auditors' Reports thereon	529,157,279	99.99%	59,006	529,216,285	734,478
2.	To approve the Annual Report on Remuneration	474,927,370	89.72%	54,442,666	529,370,036	580,726
3.	To elect Mark Allan as a Director	529,331,341	99.98%	89,371	529,420,712	530,051
4.	To re-elect Martin Greenslade as a Director	528,063,258	99.74%	1,360,593	529,423,851	526,912
5.	To re-elect Colette O'Shea as a Director	529,292,834	99.98%	130,050	529,422,884	527,879
6.	To re-elect Edward Bonham Carter as a Director	421,559,368	79.63%	107,863,200	529,422,568	528,194
7.	To re-elect Nicholas Cadbury as a Director	529,058,262	99.93%	365,039	529,423,301	527,461
8.	To re-elect Madeleine Cosgrave as a Director	526,981,760	99.54%	2,441,654	529,423,414	527,348
9.	To elect Christophe Evain as a Director	523,437,860	98.87%	5,977,637	529,415,497	535,266
10.	To re-elect Cressida Hogg as a Director	527,429,763	99.62%	2,008,679	529,438,442	512,320
11.	To re-elect Stacey Rauch as a Director	481,061,728	90.87%	48,360,776	529,422,504	528,259
12.	To re-appoint Ernst & Young LLP as auditor	527,045,293	99.98%	118,275	527,163,568	2,787,195
13.	To determine the remuneration of the auditor	529,328,524	99.98%	115,049	529,443,573	507,190
14.	To make political donations	524,626,413	99.09%	4,800,064	529,426,477	524,286
15.	To allot securities	482,036,345	91.05%	47,395,888	529,432,233	518,530
16.	To disapply pre-emption rights	509,416,296	97.12%	15,093,839	524,510,135	5,440,628
17.	To disapply pre-emption rights for purposes of acquisitions or capital investments	505,799,400	96.43%	18,708,913	524,508,313	5,442,449
18.	To purchase own shares	523,636,687	98.96%	5,527,410	529,164,097	786,665

* Includes discretionary votes

**A vote withheld is not a vote in law and is therefore not included in the calculation of total votes For/Against

Total voting rights at 9 July 2020:         741,473,884 Ordinary shares of 10 2/3 p each

Number of votes per share:                  One

Total number of votes cast:                  529,443,573 Ordinary shares (i.e.71.40% turnout)

Closed meeting

Due to Covid-19 restrictions, the Company held a closed Annual General Meeting with only the minimum number of shareholders present who were all members of the Board / employees as required to form a quorum under the Company's articles of association. All valid proxy votes and voting instructions (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting.

Resolution 6

The Board notes the level of votes cast against Resolution 6, the re-election of Edward Bonham Carter, which received 79.63% approval. This is primarily driven by the votes from a small number of institutional shareholders.  We will engage with the shareholders who voted against Edward's re-election to understand what is causing the concern and will report in due course. 

The Board strongly supports Edward's re-appointment to the Board.  Edward has attended 100% of Board and Committee meetings over the last year and has dedicated additional time to contribute towards the appointment of the Company's new CEO.  The Board is therefore confident that Edward is able to continue to make an effective contribution to the Company's Board and its Committees.   The Nomination Committee carefully monitors all directors' external time commitments and would take appropriate action should concerns be identified.

Special business resolutions

In accordance with Listing Rule 9.6.2, copies of the resolutions passed as special business will shortly be available for inspection on the National Storage Mechanism at    https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism

A copy of the voting results shown above is also available on the Company's website at https://landsec.com/investors/shareholders-equity-investors/annual-general-meeting

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For further information, please contact:

Land Securities Group PLC                           

Tim Ashby

Group General Counsel & Company Secretary

Tel: +44(0) 20 7024 5256

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