TIDMLAND

RNS Number : 5788S

Land Securities Group PLC

09 July 2020

9 July 2020

Land Securities Group PLC (the "Company")

Voting results of Annual General Meeting

The Company announces the voting results of its Annual General Meeting ("AGM") held earlier today at 80 Victoria Street, London, SW1E 5JL. All resolutions, as set out in the Notice of Meeting dated 8 June 2020, were passed with the requisite majority by means of a poll.

Resolutions 1 to 15 were passed as Ordinary Resolutions and resolutions 16 to 18 were passed as Special Resolutions.

 
                RESOLUTION                VOTES        %         VOTES       TOTAL VOTES        VOTES 
                                           FOR*        FOR      AGAINST      FOR / AGAINST    WITHHELD** 
       To receive the accounts 
        of the Company for 
        the year ended 31 March 
        2020 and the Directors' 
        and Auditors' Reports 
 1.     thereon                        529,157,279   99.99%        59,006      529,216,285       734,478 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To approve the Annual 
 2.     Report on Remuneration         474,927,370   89.72%    54,442,666      529,370,036       580,726 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To elect Mark Allan 
 3.     as a Director                  529,331,341   99.98%        89,371      529,420,712       530,051 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To re-elect Martin 
 4.     Greenslade as a Director       528,063,258   99.74%     1,360,593      529,423,851       526,912 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To re-elect Colette 
 5.     O'Shea as a Director           529,292,834   99.98%       130,050      529,422,884       527,879 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To re-elect Edward 
        Bonham Carter as a 
 6.     Director                       421,559,368   79.63%   107,863,200      529,422,568       528,194 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To re-elect Nicholas 
 7.     Cadbury as a Director          529,058,262   99.93%       365,039      529,423,301       527,461 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To re-elect Madeleine 
 8.     Cosgrave as a Director         526,981,760   99.54%     2,441,654      529,423,414       527,348 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To elect Christophe 
 9.     Evain as a Director            523,437,860   98.87%     5,977,637      529,415,497       535,266 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To re-elect Cressida 
 10.    Hogg as a Director             527,429,763   99.62%     2,008,679      529,438,442       512,320 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To re-elect Stacey 
 11.    Rauch as a Director            481,061,728   90.87%    48,360,776      529,422,504       528,259 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To re-appoint Ernst 
 12.    & Young LLP as auditor         527,045,293   99.98%       118,275      527,163,568     2,787,195 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To determine the remuneration 
 13.    of the auditor                 529,328,524   99.98%       115,049      529,443,573       507,190 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
 14.   To make political donations     524,626,413   99.09%     4,800,064      529,426,477       524,286 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
 15.   To allot securities             482,036,345   91.05%    47,395,888      529,432,233       518,530 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To disapply pre-emption 
 16.    rights                         509,416,296   97.12%    15,093,839      524,510,135     5,440,628 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
       To disapply pre-emption 
        rights for purposes 
        of acquisitions or 
 17.    capital investments            505,799,400   96.43%    18,708,913      524,508,313     5,442,449 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
 18.   To purchase own shares          523,636,687   98.96%     5,527,410      529,164,097       786,665 
      ------------------------------  ------------  -------  ------------  ---------------  ------------ 
 

* Includes discretionary votes

**A vote withheld is not a vote in law and is therefore not included in the calculation of total votes For/Against

   Total voting rights at 9 July 2020:         741,473,884 Ordinary shares of 10 2/3 p each 
   Number of votes per share:                  One 
   Total number of votes cast:                  529,443,573 Ordinary shares (i.e.71.40% turnout) 

Closed meeting

Due to Covid-19 restrictions, the Company held a closed Annual General Meeting with only the minimum number of shareholders present who were all members of the Board / employees as required to form a quorum under the Company's articles of association. All valid proxy votes and voting instructions (whether submitted electronically or in hard copy form) were included in the poll taken at the meeting.

Resolution 6

The Board notes the level of votes cast against Resolution 6, the re-election of Edward Bonham Carter, which received 79.63% approval. This is primarily driven by the votes from a small number of institutional shareholders. We will engage with the shareholders who voted against Edward's re-election to understand what is causing the concern and will report in due course.

The Board strongly supports Edward's re-appointment to the Board. Edward has attended 100% of Board and Committee meetings over the last year and has dedicated additional time to contribute towards the appointment of the Company's new CEO. The Board is therefore confident that Edward is able to continue to make an effective contribution to the Company's Board and its Committees. The Nomination Committee carefully monitors all directors' external time commitments and would take appropriate action should concerns be identified.

Special business resolutions

In accordance with Listing Rule 9.6.2, copies of the resolutions passed as special business will shortly be available for inspection on the National Storage Mechanism at https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism

A copy of the voting results shown above is also available on the Company's website at https://landsec.com/investors/shareholders-equity-investors/annual-general-meeting

END

For further information, please contact:

Land Securities Group PLC

Tim Ashby

Group General Counsel & Company Secretary

Tel: +44(0) 20 7024 5256

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END

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