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. 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

RAGUNVBRUOUOAAR

(END) Dow Jones Newswires

March 16, 2022 13:55 ET (17:55 GMT)

Safestore (LSE:SAFE)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Safestore Charts.
Safestore (LSE:SAFE)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Safestore Charts.