Result of AGM
Updated : 17:30
31 March 2021
Annual General Meeting
Ground Rents Income Fund plc (the "Company") announces that a poll was held on each of the resolutions proposed at the Annual General Meeting ("AGM") on Wednesday, 31 March 2021. All the resolutions passed. The results of the poll are:
Resolution | For | % | Against | % | Withheld | Total % of Voting Capital voted (Including Withheld) | |
1 | To receive the Annual Report and Financial Statements | 42,414,662 | 100.00 | 0 | 0 | 0 | 43.65 |
2 | To approve the directors' remuneration policy | 32,811,508 | 77.40 | 9,583,154 | 22.64 | 20,000 | 43.65 |
3 | To approve the directors' remuneration report | 42,386,621 | 99.98 | 8,041 | 0.02 | 20,000 | 43.65 |
4 | To elect Barry Gilbertson | 42,412,424 | 99.99 | 2,238 | 0.01 | 0 | 43.65 |
5 | To re-elect Paul Craig | 34,338,392 | 80.96 | 8,076,270 | 19.07 | 0 | 43.65 |
6 | To re-elect Bill Holland | 34,338,392 | 80.96 | 8,076,270 | 19.07 | 0 | 43.65 |
7 | To re-appoint PricewaterhouseCoopers LLP as Auditor | 42,406,879 | 100.00 | 441 | 0.01 | 7,342 | 43.65 |
8 | To give directors authority to determine the auditor's remuneration | 42,409,389 | 100.00 | 441 | 0.01 | 4,832 | 43.65 |
9 | To approve the Company's dividend policy | 42,414,221 | 100.00 | 441 | 0.01 | 0 | 43.65 |
10 | To increase the director fee cap from £100,000 to £150,000 | 32,015,951 | 75.50 | 10,387,211 | 24.53 | 11,500 | 43.65 |
11 | To renew the authority to allot shares | 42,360,969 | 99.87 | 53,693 | 0.13 | 0 | 43.65 |
12 | To disapply pre-emption rights (special resolution) | 34,248,666 | 80.81 | 8,134,496 | 19.22 | 31,500 | 43.65 |
13 | To renew the authority to purchase own shares (special resolution) | 42,412,152 | 99.99 | 2,510 | 0.01 | 0 | 43.65 |
*Resolutions 12 and 13 were passed as special resolutions. Copies of resolutions 10, 11, 12 and 13 will be filed at Companies House.
The Board notes the significant number of votes cast against certain resolutions and will be engaging with shareholders to understand the reasons for these, the conclusions of which will be detailed in either a further RNS announcement, or in the 2021 Half Year Report.
Shareholders are entitled to one vote per share. Votes withheld are not a vote in law and are therefore not counted in the calculation of the percentages of the votes cast for and against a resolution. 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.
Please note a 'vote withheld' is not a vote under English law and is not counted in the calculation of votes 'for' or 'against' a resolution.
The total number of ordinary shares of 50p each in issue is 97,006,497. The total number of voting rights is: 97,006,497.
A copy of the resolutions passed at today's AGM will be available for inspection on the Company's website at http://www.groundrentsincomefund.com
Enquiries:
Matthew Riley
Schroder Investment Management Limited
020 7658 6596
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