Shaftesbury PLC Update on 2020 AGM resolution votes (1976U)
27 July 2020 - 10:12PM
UK Regulatory
TIDMSHB
RNS Number : 1976U
Shaftesbury PLC
27 July 2020
SHAFTESBURY PLC
Update on 2020 annual general meeting resolution votes
In accordance with the requirement of Provision 4 of the UK
Corporate Governance Code (2018), Shaftesbury PLC ("the Company")
is providing this update following significant votes (defined as
above 20%) against the following resolutions at its annual general
meeting ("AGM") held on 31 January 2020:
-- the remuneration policy;
-- the annual remuneration report;
-- the re-election of Jonathan Nicholls (Chairman);
-- the re-election of Brian Bickell (Chief Executive);
-- the re-election of Chris Ward (Finance Director);
-- the allotment of shares;
-- two separate resolutions relating to the disapplication of
pre-emption rights (special resolutions); and
-- the authority to call a general meeting on not less than 14
days' notice (special resolution).
Of the above, those proposed as ordinary resolutions were passed
but the special resolutions were not passed.
The Company published a statement at the conclusion of the 2020
AGM regarding votes cast.(
https://otp.tools.investis.com/clients/uk/shaftesbury1/rns1/regulatory-story.aspx?cid=520&newsid=1362226
) At the date of the AGM, Mr Samuel Tak Lee, was the ultimate
beneficial owner of 26.15% of the issued share capital, and voted
against each of the resolutions listed above. Mr Lee did not vote
on any other resolutions, all of which were passed with in excess
of 99% of those voting, voting in favour.
It was announced on 30 May 2020 that entities beneficially owned
by Mr Lee had agreed to sell their 26.3% interest in the Company.
This was followed by an announcement on 1 June 2020, that legal
proceedings issued by companies whose former beneficial owner was
Mr Lee had been withdrawn . Given the sale of his interest, no
further action has been taken in connection with engaging with Mr
Lee on his votes against the 2020 AGM resolutions.
Desna Martin
Company Secretary
27 July 2020
020 7333 8118
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END
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