TOWN CENTRE SECURITIES PLC — AGM Information 2018

Nov 21, 2018

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RNS Number : 0628I

Town Centre Securities PLC

21 November 2018

21 November 2018

Town Centre Securities PLC

(The 'Group' or the 'Company')

Results of the AGM

And

Directorate Change

The Directors of Town Centre Securities are pleased to announce that at it's Annual General Meeting held on Tuesday 20 November 2018, all of the proposed resolutions as set out in the Notice of Annual General Meeting were passed on a show of hands. Proxy votes were received from shareholders by the Company in advance of the meeting as set out below:

Resolution			Votes for	%	Votes against	%		Total shares for and against	% of total voting rights *		Votes withheld **
1	Receive and adopt the financial statements for the financial year ended 30 June 2018		35,141,753	97.12%	1,043,516	2.88%		36,185,269	68.07%		28
2	Approve the Directors' Remuneration Report (excluding Directors' Remuneration Policy) for the financial year ended 30 June 2018		33,378,652	92.29%	2,789,409	7.71%		36,168,061	68.03%		17,236
3	Declare the final cash dividend recommended by the Board		36,181,270	100.00%	0	0.00%		36,181,270	68.06%		4,028
4	Re-elect P Huberman as a non-executive Director		35,829,633	99.02%	355,637	0.98%		36,185,270	68.07%		28
5	Elect J Collins as a non-executive Director		36,185,270	100.00%	0	0.00%		36,185,270	68.07%		28
6	Re-elect B Ziff as an Executive Director		36,182,436	99.99%	134	0.01%		36,182,570	68.06%		2,728
7	Elect L Shillaw as Director		36,178,770	100.00%	0	0.00%		36,178,770	68.05%		6,528
8	Re-appoint BDO as auditors of the Company		35,133,897	99.98%	6,431	0.02%		35,140,328	66.10%		1,044,969
9	Authorise the Directors to determine the remuneration of the auditor		36,183,422	99.99%	1,848	0.01%		36,185,270	68.07%		28
10	Authorise the Directors to make political donations		29,669,189	98.74%	379,068	1.26%		30,048,257	56.52%		6,137,041
11	Authorise the Board to allot shares		35,125,153	99.95%	19,183	0.05%		35,144,336	66.11%		1,040,961
12	Authorise the Directors to allot shares otherwise than on a pre-emptive basis - general		35,765,185	98.84%	420,085	1.16%		36,185,270	68.07%		28
13	Authorise the Directors to disapply pre-emption rights for purposes of acquisitions or capital investments		34,731,442	95.99%	1,451,543	4.01%		36,182,985	68.06%		2,312
14	Authorise to purchase Company's own shares		35,125,599	97.07%	1,059,670	2.93%		36,185,269	68.07%		28
15	Authorise the convening of general meetings on 14 clear days' notice		35,933,390	99.30%	251,880	0.70%		36,185,270	68.07%		28
Resolutions 4 and 5 - Excluding controlling shareholder votes
Resolution			Votes for	%	Votes against	%		Total shares for and against	% of total voting rights *		Votes withheld **
4		Re-elect P Huberman as a non-executive Director	8,525,301	96.00%	355,637	4.00%		8,880,938	34.35%		28
5		Elect J Collins as a non-executive Director	8,880,938	100.00%	0	0.00%		8,880,938	34.35%		28
* As at the date of the Annual General Meeting, the total number of shares with voting rights in the Company is 53,161,950.
** A 'vote withheld' is not a vote in law and cannot be counted in the calculation of the votes for and against a resolution

The Directors note the fact, when excluding controlling shareholder votes, that the proportion of shareholders voting to pass resolution 2 was 68.5%. The Directors intend to fully understand the concerns of shareholders who voted against this resolution and consider whether to initiate any changes to its policies as a result.

The Company also announces that Richard Lewis, the Company's Property Director retired from the Board at the Annual General Meeting, and that Richard's replacement Lynda Shillaw was duly elected to the Board by shareholders.

Edward Ziff, Chairman and Chief Executive, said:

"On behalf of the Board, I would like to personally thank Richard Lewis for his long-standing commitment to Town Centre Securities. Richard's contribution has been invaluable, notably with some of our most significant schemes, beginning with the construction and sale of No1 Whitehall Riverside in Leeds, the continued development of Piccadilly Basin in Manchester, and most recently the re-development of Merrion House in Leeds. We wish Richard a long, happy, and healthy retirement."

"We are delighted that someone with the calibre and reputation of Lynda Shillaw has joined Town Centre Securities. We believe that Lynda's breadth of investment and development experience, combined with her past involvement in real estate financing will be invaluable as we embark on the next stage of the Company's growth, including undertaking the most significant development pipeline in TCS's history."

ENDS

For further information, please contact:

Town Centre Securities PLC                                                                             www.tcs-plc.co.uk / @TCS PLC

Edward Ziff, Chairman and Chief Executive                                                                           0113 222 1234

Mark Dilley, Group Finance Director      

MHP Communications                                                                                                  020 3128 8572 / 8742

Reg Hoare / Alistair de Kare-Silver                                                                                                                                                                                                                                                                          tcs@mhpc.com

Notes to Editors:

Town Centre Securities PLC (TCS) is a Leeds, Manchester, Glasgow and London based property investment and car parking operator with assets of over £400m. With more than 50 years' experience, a commitment to sustainable development and a reputation for quality and innovation, TCS create mixed use developments close to transport hubs in major cities across the UK. Their current portfolio delivers an annual income of more than £30m.

For more information visit www.tcs-plc.co.uk

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