TIDMSAFE
RNS Number : 5004I
Safestore Holdings plc
21 March 2018
21 March 2018
Safestore Holdings plc
("Safestore", "the Company" or "the Group")
Result of Annual General Meeting
The 2018 Annual General Meeting of Safestore Holdings plc was
held at midday today at the Company's registered office in
Borehamwood, Hertfordshire.
All resolutions were passed by the requisite majority by way of
a poll.
Commentating on the result of the AGM Alan Lewis, Chairman of
Safestore said:
"After an 84% turnout, a majority of shareholders have approved
the Directors' Remuneration Report which implements the new
remuneration policy, adopted in July 2017. I would like to thank
them for their continued support.
Although all resolutions were duly passed, the Board recognises
the significant votes against the Remuneration Report (Resolution
2), the re-appointment of Claire Balmforth as a director
(Resolution 11) and the re-appointment of the other members of the
Remuneration Committee (Resolutions 9,10 and 12).
The Board appreciates that the remuneration policy continues to
divide opinion amongst shareholders and Claire, as Remuneration
Committee Chairman, and I will as a matter of priority be listening
to and engaging with shareholders. I can assure shareholders that
our management team will be maintaining focus on delivering market
beating performance and value to all shareholders."
The following votes were cast in respect of the AGM
resolutions:
Ordinary Votes % Votes % Votes % of Votes
Resolution For Against Total Issued Withheld
Share
Capital
Voted
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To receive
the Annual
Report and
1 Accounts 176,583,123 99.84 290,000 0.16 176,873,123 84.23 179,039
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To approve
the Directors'
Remuneration
2 Report 91,521,500 51.74 85,351,738 48.26 176,873,238 84.23 178,923
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To appoint
Deloitte
3 LLP as auditor 174,992,189 98.93 1,884,965 1.07 176,877,154 84.23 175,007
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To authorise
the Directors
to determine
the auditors'
4 remuneration 175,309,894 99.11 1,568,454 0.89 176,878,348 84.23 173,814
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To declare
a final
dividend
of 9.80
pence per
ordinary
5 share 176,740,076 100.00 0 0.00 176,740,076 84.17 312,086
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To re-elect
Alan Lewis
6 as a Director 150,001,502 84.80 26,878,313 15.20 176,879,815 84.23 172,346
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To re-elect
Frederic
Vecchioli
7 as a Director 176,308,975 99.68 573,341 0.32 176,882,316 84.23 169,846
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To re-elect
Andy Jones
8 as a Director 175,838,035 99.41 1,044,281 0.59 176,882,316 84.23 169,846
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To re-elect
Ian Krieger
as a
9 Director 134,583,888 76.09 42,298,427 23.91 176,882,315 84.23 169,846
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To re-elect
Joanne Kenrick
10 as a Director 137,288,888 77.62 39,593,427 22.38 176,882,315 84.23 169,846
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To elect
Claire Balmforth
11 as a Director 87,993,740 52.28 80,322,237 47.72 168,315,977 80.15 8,736,184
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To elect
Bill Oliver
12 as a Director 137,596,306 77.79 39,286,009 22.21 176,882,315 84.23 169,846
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To authorise
political
donations
and political
13 expenditure 171,324,286 99.52 834,040 0.48 172,158,326 81.98 4,893,836
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To authorise
the directors
to allot
relevant
14 securities 168,950,638 95.52 7,923,485 4.48 176,874,123 84.23 178,039
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
Special
Resolution*
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To authorise
the dis-application
of pre-emption
15 rights 175,454,799 99.79 370,579 0.21 175,825,378 83.73 1,226,784
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To authorise
market purchases
of ordinary
16 shares 175,615,500 99.58 741,390 0.42 176,356,890 83.98 695,271
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
To authorise
general
to be called
on not less
than 14
clear days'
notice meetings
other than
annual general
17 meetings 164,917,781 93.24 11,964,535 6.76 176,882,316 84.23 169,846
--- --------------------- ------------ ------- ----------- ------ ------------ --------- ----------
*Special Resolutions requiring a 75% majority
Notes
Where shareholders appointed the Chairman as their proxy with
discretion as to voting, their votes were cast in favour of the
resolutions and their shares have been included in the "votes for"
column.
A "vote withheld" is not a vote in law and is not counted in the
calculation of the percentages of votes cast for and against a
resolution.
The current issued capital of Safestore Holdings plc is
209,990,730 shares.
In accordance with LR 9.6.2, copies of the resolutions passed as
special business will be forwarded to the FCA for publication
through the Document Viewing Facility and will be accessible via
the National Storage Mechanism website at
http://www.morningstar.co.uk/uk/NSM
For further information, please contact:
Safestore Holdings plc 020 8732 1500
Nicholas Jennings,
Interim Company Secretary
www.safestore.com
Instinctif Partners 020 7457 2020
Mark Reed
Guy Scarborough
Notes to editors:
Value created since the March 2017 AGM and since 2013
* Through continued organic growth, combined with the
Alligator acquisition and a refinancing, both of
which were immediately earnings accretive, Safestore
has delivered for shareholders some GBP200m in market
value through share price appreciation since the
March 2017 AGM, as well as a 20% increase in the
dividend for the full year ended 31 October 2017.
* Over the four years to 31 October 2017, Safestore's
cash tax adjusted earnings per share increased by
110%, the dividend by 143% and Total Shareholder
Return by 290%. Under current management the share
price has quadrupled and market capitalisation has
increased from GBP279m to c. GBP1.1bn.
About Safestore
* Safestore is the UK's largest self-storage group with
146 stores, comprising 120 wholly owned stores in the
UK (including 67 in London and the South East with
the remainder in key metropolitan areas such as
Manchester, Birmingham, Glasgow, Edinburgh, Liverpool
and Bristol) and 26 wholly owned stores in the Paris
region.
* Safestore was founded in the UK in 1998. It acquired
the French business "Une Pièce en Plus" ("UPP")
in 2004 which was founded in 1998 by the current
Safestore Group CEO Frederic Vecchioli.
* Safestore has been listed on the London Stock
Exchange since 2007. It entered the FTSE 250 index in
October 2015.
* Safestore employs around 600 people in the UK and
France.
The company news service from the London Stock Exchange
END
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