TIDMSAFE
RNS Number : 0497F
Safestore Holdings plc
16 March 2022
16 March 2022
Safestore Holdings plc
("Safestore", "the Company" or "the Group")
Result of Annual General Meeting
Annual General Meeting
The 2022 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.
The following votes were cast in respect of the AGM
resolutions:
% of
Issued
Total Votes Share
Votes (excluding Capital Votes
Resolution Votes For % Against % withheld) Voted Withheld
To receive
the Annual
Report and
1 Accounts 179,983,620 99.95% 89,581 0.05% 180,073,201 85.41% 439,111
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To approve
the Directors'
Remuneration
2 Report 129,213,061 72.15% 49,876,689 27.85% 179,089,750 84.95% 1,422,562
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To appoint
Deloitte LLP 85.39
3 as auditor 179,968,074 99.97% 52,526 0.03% 180,020,600 % 491,712
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To authorise
the Directors
to determine
the auditors' 85.61
4 remuneration 180,446,611 99.97% 48,989 0.03% 180,496,100 % 16,712
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To declare
a final
dividend
of 12.7 pence
per ordinary 85.61
5 share 180,483,572 99.99% 12,528 0.01% 180,496,100 % 16,212
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To elect Laure 85.61
6 Duhot 180,492,022 100.00% 2,225 0.00% 180,494,247 % 18,065
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To elect
Delphine
Mousseau as 85.61
7 a Director 180,490,412 100.00% 2,335 0.00% 180,490,412 % 19,565
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To re-elect
David Hearn
8. as a Director 170,061,250 94.22% 10,433,198 5.78% 180,494,448 85.61% 17,864
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To re-elect
Frederic
Vecchioli 85.61
9. as a Director 180,472,661 99.99% 21,787 0.01% 180,494,448 % 17,864
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To re-elect
Andy Jones 85.61
10 as a Director 178,913,188 99.12% 1,581,260 0.88% 180,494,448 % 17,864
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To elect Gert
van de Weerdhof
11 as a Director 176,725,572 98.17% 3,292,376 1.83% 180,017,948 85.39% 494,364
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To re-elect
Ian Krieger
12 as a Director 171,751,822 95.16% 8,742,626 4.84% 180,494,448 85.61% 17,864
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To r e-elect
Claire
Balmforth 85.61
13 as a Director 176,601,980 97.84% 3,892,468 2.16% 180,494,448 % 17,864
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To authorise
political
donations
and political 85.61
14 expenditure 178,549,031 98.92% 1,945,266 1.08% 180,494,297 % 18,015
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To authorise
the directors
to allot
relevant 85.61
15 securities 154,765,715 85.75% 25,729,332 14.25% 180,495,047 % 17,265
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To adopt new
Articles of 85.61
16 Association 179,971,069 99.71% 523,228 0.29% 180,494,297 % 18,015
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To authorise
the
dis-application
of pre-emption 85.61
17 rights 179,736,784 99.58% 758,232 0.42% 180,495,016 % 17,296
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To authorise
market
purchases
of ordinary 85.37
18 shares 179,937,226 99.98% 33,570 0.02% 179,970,796 % 541,516
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
To authorise
general
meetings
(other than
annual general
meetings)
to be called
on not less
than 14 clear
days' notice 85.61
19 meetings 166,077,229 92.01% 14,418,840 7.99% 180,496,069 % 16,243
---------------- ------------ -------- ----------- ------- ---------------------------- -------- ----------
Resolutions 1 to 15 were ordinary resolutions, requiring more
than 50 per cent. of shareholders' votes to be cast in favour of
the resolutions. Resolutions 16 to 19 were special resolutions,
requiring at least 75 per cent. of shareholders' votes to be cast
in favour of the resolutions.
Where shareholders appointed the Chairman of the meeting 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.
Commenting on the result of the AGM David Hearn, Chairman of
Safestore said:
"The financial results for the year ended 31 October 2021 were a
record set of results and a testament to the strength of
Safestore's business model and management team. The business has
delivered an exceptional trading performance with significant
financial and strategic progress. After an 85.62% turnout, I am
pleased that all resolutions were duly passed and would like to
thank our shareholders for their continued support.
Whilst we received strong support for the Directors'
Remuneration Report (Resolution 2), it was only at 72%. The Board
appreciates that the 2017 Remuneration Policy still continues to
divide opinion amongst some shareholders, even though it was voted
through in 2017. Following recent shareholder engagement by myself
and Ian Krieger as the Senior Independent Director, it is
understood that some shareholders who voted against the 2017
Remuneration Policy at its inception have a policy to vote against
all future remuneration reports that reflect the subsequent
execution of it. From specific conversations with some of our
leading shareholders it is clear that their vote against the
Remuneration Report does not reflect a vote against either the
management or the Board and that they accept fully that the payouts
reflect the outstanding value creation for all shareholders over
the past five years which has been a significant benefit to all our
stakeholders.
As such, this vote does not represent a vote against Safestore's
current Remuneration Policy, which received over-whelming
shareholder approval at Safestore's 2020 Annual General
Meeting.
We will continue to engage with shareholders on remuneration and
governance matters and are committed to consulting on an on-going
basis regarding the formation of the next remuneration policy later
this year. We expect to submit our next Remuneration Policy to
shareholders for their approval at our AGM in 2023."
The current issued capital of Safestore Holdings plc is 210,827,104 ordinary shares.
In accordance with LR 9.6.2, copies of the resolutions passed as
special business have been submitted to the Financial Conduct
Authority's National Storage Mechanism and will shortly be
available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
For further information, please contact:
Instinctif Partners
Guy Scarborough
Bryn Woodward 020 7457 2020
Notes to editors:
* Safestore is the UK's largest self-storage group with
162 stores at 31 January 2022, comprising 129 wholly
owned stores in the UK (including 72 in London and
the South East with the remainder in key metropolitan
areas such as Manchester, Birmingham, Glasgow,
Edinburgh, Liverpool, Sheffield, Leeds, Newcastle and
Bristol), 29 wholly owned stores in the Paris region
and 4 stores in Barcelona. In addition, the Group
operates 10 stores in the Netherlands and 6 stores in
Belgium under a joint venture agreement with Carlyle.
* Safestore operates more self-storage sites inside the
M25 and in central Paris than any competitor
providing more proximity to customers in the
wealthiest and more densely populated UK and French
markets.
* 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.
* The Group provides storage to around 80,000 personal
and business customers.
* As at 31 January 2022, Safestore had a maximum
lettable area ("MLA") of 7.067 million sq ft
(excluding the expansion pipeline stores, and the
Carlyle Joint Venture) of which 5.708 million sq ft
was occupied.
* Safestore employs around 700 people in the UK, Paris
and Barcelona.
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