MOUNTVIEW ESTATES PLC

AGM Information • Aug 12, 2020

National Storage Mechanism | Additional information

RNS Number : 9637V

Mountview Estates PLC

12 August 2020

FOR IMMEDIATE RELEASE - 12 August 2020

MOUNTVIEW ESTATES P.L.C.

The following amendment has been made to the 'Result of Annual General Meeting' announcement released on 12 August 2020 at 13.04hrs under RNS No 9521V.

The votes cast for Resolution 6 were 2,065,123.  All other details remain unchanged.

The full amended text is shown below.

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 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 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	2,065,123	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 Adviser)	www.sparkadvisorypartners.com
Mark Brady - 020 3368 3551

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