MOUNTVIEW ESTATES PLC

AGM Information • Aug 7, 2019

National Storage Mechanism | Additional information

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RNS Number : 2982I

Mountview Estates PLC

07 August 2019

FOR IMMEDIATE RELEASE - 7 August 2019

MOUNTVIEW ESTATES P.L.C.

Mountview Estates P.L.C.

("Mountview" or "the Company")

Result of Annual General Meeting

Mountview Estates P.L.C. is pleased to announce that at the Annual General Meeting held today, all Resolutions were taken on a poll. Resolutions 1 to 10 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 2019	2,939,851	100.00	0	0.00	2,939,851	75.40	0
2. to declare a final dividend of 200 pence per share	2,939,851	100.00	0	0.00	2,939,851	75.40	0
3. to re-elect Mrs M M Bray as a director of the Company	2,939,801	100.00	50	0.00	2,939,851	75.40	0
4. to re-elect Mr D M Sinclair as a director of the Company	2,939,701	100.00	50	0.00	2,939,751	75.40	100
5. to re-elect Mrs M L Jarvis as a director of the Company	2,001,233	68.08	938,218	31.92	2,939,451	75.39	400
6. to re-elect Mr A W Powell as a director of the Company	2,001,633	68.09	938,218	31.91	2,939,851	75.40	0
7. to re-elect Dr A R Williams as a director of the Company	1,938,118	96.82	63,735	3.18	2,001,853	51.34	937,998

8.    to approve the Directors' Remuneration Report	1,997,786	67.96	942,065	32.04	2,939,851	75.40	0
9.  to re-appoint Messrs BSG Valentine as Auditors of the Company	1,998,416	67.98	941,435	32.02	2,939,851	75.40	0
10.  to authorise the Directors to determine the Auditors' remuneration	2,001,853	100.00	0	0.00	2,001,853	51.34	937,998
Independent Resolutions:
11. to re-elect Mrs M L Jarvis as a director of the Company	179,481	16.06	938,268	83.94	1,117,749	28.67	400
12. to re-elect Mr A W Powell as a director of the Company	179,831	16.08	938,218	83.92	1,118,049	28.68	100

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 today's Annual General Meeting supported Resolutions 5, 6, 8 and 9, we are disappointed that a notable number of shareholders opposed these Resolutions.  The Directors will 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 11 and 12, to re-elect Mhairi Jarvis 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 Jarvis and Tony Powell as Directors of the Company. 

A further announcement will be made in due course.

~Ends~

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

SPARK Advisory Partners Limited (Financial Adviser)	www.Sparkadvisorypartners.com
Miriam Greenwood	0203 368 3553
Mark Brady	0203 368 3551

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