MOUNTVIEW ESTATES PLC

AGM Information • Aug 11, 2021

National Storage Mechanism | Additional information

RNS Number : 3479I

Mountview Estates PLC

11 August 2021

FOR IMMEDIATE RELEASE - 11 August 2021

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 11 August 2021. A poll was held on each of the Resolutions. 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 2021.	3,072,339	100.00	0			0.00	3,072,339		78.80		1
2. to declare a final dividend of 225 pence per share.	3,072,339	100.00	0			0.00	3,072,339		78.80		1
3. to re-elect Mrs M. M. Bray as a director of the Company.	3,071,369	99.98	750			0.02	3,072,119		78.79		221
4. to re-elect Mr D. M. Sinclair as a director of the Company.	3,071,589	99.98	750			0.02	3,072,339		78.80		1
5. to re-elect Ms M. L. Archibald as a director of the Company.	2,133,230	69.44	938,889			30.56	3,072,119		78.79		221
6. to re-elect Mr A. W. Powell as a director of the Company.	2,052,791	67.45	990,574			32.55	3,043,365		78.05		28,975
7. to re-elect Dr A. R. Williams as a director of the Company.	2,053,552	96.21	80,789			3.79	2,134,341		54.74		937,999
8.  to approve the Directors' Remuneration Report.	2,133,588	69.45	938,689			30.55	3,072,277		78.80		63
9.  to re-appoint BSG Valentine (UK) LLP as Auditors of the Company.	2,134,291	69.47	938,048			30.53	3,072,339		78.80		1
10.  to authorise the Directors to determine the Auditors' remuneration.	3,072,289	99.99	50			0.01	3,072,339		78.80		1
Independent Resolutions:
11. to re-elect Ms M. L. Archibald as a director of the Company.	183,694	16.36		938,794	83.64		1,122,488	28.79		487,770
12. to re-elect Mr A. W. Powell as a director of the Company.	93,785	8.65		990,479	91.35		1,084,264	27.81		516,524

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 and 9, 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 11 and 12, 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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