20 February 2025
HOME REIT plc
(the "Company")
RESULTS OF ANNUAL GENERAL
MEETING
Following the Annual General Meeting
of the Company held earlier today, the Board is pleased to announce
that the resolutions, as set out in the notice of the Annual
General Meeting sent to shareholders on 27 January 2025, were
approved by shareholders. The resolutions put to the meeting were
voted on by way of a poll.
In accordance with UK Listing Rule
6.4.2, a copy of the resolutions that do not constitute ordinary
business at an Annual General Meeting have been submitted to the
National Storage Mechanism and will be available shortly for
inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
The results of the poll were as
follows:
|
Resolution
|
In
favour¹
|
Against
|
Votes
withheld²
|
% of
issued share capital voted
|
|
Number of
votes
|
Percentage
|
Number of
votes
|
Percentage
|
|
|
1.
To receive the Annual Report and
Accounts for the year ended 31 August 2023, together with the
reports of the Directors and Auditor thereon.
|
245,396,593
|
55.10%
|
199,942,709
|
44.90%
|
75,786,237
|
56.33%
|
|
2.
To approve the Directors'
Remuneration Report, as set out in the Annual Report and Accounts
for the year ended 31 August 2023.
|
520,322,042
|
99.86%
|
706,719
|
0.14%
|
96,778
|
65.91%
|
|
3.
To approve the Directors'
Remuneration Policy.
|
516,026,279
|
99.04%
|
4,982,582
|
0.96%
|
116,678
|
65.90%
|
|
4.
To re-elect Roderick Day as a
Director of the Company.
|
478,902,568
|
98.89%
|
5,360,721
|
1.11%
|
36,862,250
|
61.25%
|
|
5.
To re-elect Michael O'Donnell as a
Director of the Company.
|
471,652,159
|
90.51%
|
49,427,720
|
9.49%
|
45,660
|
65.91%
|
|
6.
To re-elect Peter Williams as a
Director of the Company.
|
511,079,458
|
98.08%
|
10,000,421
|
1.92%
|
45,660
|
65.91%
|
|
7.
To re-appoint BDO LLP as Auditor to
the Company.
|
479,468,109
|
92.01%
|
41,633,371
|
7.99%
|
24,059
|
65.91%
|
|
8.
To authorise the Directors to
determine the Auditor's remuneration.
|
479,477,542
|
92.02%
|
41,606,044
|
7.98%
|
41,953
|
65.91%
|
|
9. Special
Resolution
That the Company be authorised to
make market purchases of its Ordinary Shares.
|
515,322,131
|
98.91%
|
5,668,339
|
1.09%
|
135,069
|
65.90%
|
|
10. Special
Resolution
That the Company be authorised to
make tender offers for its Ordinary Shares.
|
517,123,442
|
99.27%
|
3,824,342
|
0.73%
|
177,755
|
65.90%
|
|
11. Special
Resolution
That the amount standing to the
credit of the share premium account of the Company be
cancelled.
|
520,768,517
|
99.95%
|
246,478
|
0.05%
|
110,544
|
65.90%
|
|
12. Special
Resolution
That a General Meeting of the Company
other than an Annual General Meeting may be called on not less than
14 clear days' notice.
|
511,196,132
|
98.10%
|
9,902,099
|
1.90%
|
27,308
|
65.91%
|
¹ Any proxy arrangement which gave
discretion to the Chair has been included in the 'For'
totals.
² A 'Vote Withheld' is not a vote in
law and is not counted in the total votes cast or the calculation
of the percentage of votes 'For' or 'Against' each
resolution.
The full text of the resolutions can
be found in the Notice of the Annual General Meeting, which is
available on the Company's website, www.homereituk.com.
On the record date for voting at the
meeting, the Company's issued share capital consisted of
790,570,465 ordinary shares of £0.01 nominal value each, carrying
one vote each. The Company holds no shares in treasury. Therefore,
the total number of voting rights in the Company was
790,570,465.
The Board of the Company notes that
although the resolution to receive the Company's annual report and
accounts for the year ended 31 August 2023 was passed, there were a
material number of votes cast against and it also notes that
shareholder advisory consultants recommended that shareholders vote
against the resolution. The Board would like to
emphasise that the Group and Company's Statement of Financial
Position for 31 August 2023 is not subject to the disclaimer of
opinion issued with respect to the Consolidated
Statement of Comprehensive Income, Consolidated Statement of
Changes in Shareholders' Equity and Consolidated Statement of Cash
Flows, which disclaimer was a direct result of BDO's inability to
gain adequate comfort on the 31 August 2022 Statement of Financial
Position. The Board understands and shares shareholders'
frustrations regarding the delays experienced in publishing the
Company's outstanding annual and interim accounts. In accordance
with the AIC Corporate Governance Code, the Company intends to
consult further with relevant shareholders to understand the
reasons behind the result, beyond discussions that have already
taken place prior to the Annual General Meeting (and General
Meeting on 5 December 2024 where shareholders voted against the
resolution to receive the Company's annual report and accounts for
the year ended 31 August 2022). It intends to provide an update on
or before the 4 June 2025 (being within six months of the date of
the General Meeting on 5 December 2024).
FOR FURTHER
INFORMATION, PLEASE CONTACT:
FTI Consulting
(Communications
Adviser)
HomeREIT@fticonsulting.com
Dido
Laurimore
+44
(0)20 3727 1000
Oliver Harrison
Bryn Woodward
The Company's LEI is: 213800A53AOVH3FCGG44.
For more information, please visit the Company's
website: www.homereituk.com
END
