TIDMCSP

RNS Number : 7848A

Countryside Properties PLC

23 January 2020

23 January 2020

COUNTRYSIDE PROPERTIES PLC (THE "COMPANY")

RESULTS OF 2020 ANNUAL GENERAL MEETING

At the Company's fourth Annual General Meeting ("AGM") held earlier today all resolutions put to the meeting were voted on by way of a poll and were passed by the shareholders.

The results of the poll vote for each resolution are as follows:

 
          Resolution                 Votes For            Votes Against             Total Votes Cast           Votes 
                                                                                    (excluding votes          Withheld 
                                                                                        withheld) 
                                No of         % of     No. of       % of      No. of        % of issued        No. of 
                                 Shares       shares    Shares       shares    Shares        share capital     Shares 
                                              voted                  voted 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To receive and 
        adopt the Company's 
        audited Annual 
        Report for the 
        year ended 30 
        September 2019 
        and the reports 
        of the Directors 
        and Auditor 
 1.     thereon.                412,215,274   100.00        3,860      0.00   412,219,134            91.60      363,168 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To approve the 
       Directors' 
       Remuneration 
       Report (excluding 
       the Directors' 
       Remuneration 
       Policy) for 
       the year ended 
       30 September 
 2.    2019.                    304,347,476    77.97   85,971,065     22.03   390,318,541            86.74   23,299,095 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To approve the 
       Directors' 
       Remuneration 
 3.    Policy                   370,380,362    95.69   16,667,086      4.31   387,047,448            86.01   26,570,188 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To declare a 
        final dividend 
        of 10.3 pence 
        per ordinary 
        share for the 
        year ended 30 
 4.     September 2019.         412,579,163   100.00        3,139      0.00   412,582,302            91.68            0 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To elect Simon 
        Townsend as 
 5.     a Director.             409,267,344    99.20    3,313,973      0.80   412,581,317            91.68          985 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To elect Iain 
        McPherson as 
 6.     a Director              411,333,352    99.70    1,247,965      0.30   412,581,317            91.68          985 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To re-elect 
        David Howell 
 7.     as a Director.          389,659,488    94.44   22,922,813      5.56   412,582,301            91.68            0 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To re-elect 
        Mike Scott as 
 8.     a Director.             409,045,169    99.14    3,537,133      0.86   412,582,302            91.68            0 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To re-elect 
        Douglas Hurt 
 9,     as a Director           390,446,024    94.63   22,136,278      5.37   412,582,302            91.68            0 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To re-elect 
        Amanda Burton 
 10.    as a Director.          386,833,170    93.76   25,748,458      6.24   412,581,628            91.68          674 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To re-elect 
        Baroness Sally 
        Morgan as a 
 11.    Director.               390,443,899    94.63   22,137,729      5.37   412,581,628            91.68          674 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To re-appoint 
       PricewaterhouseCoopers 
       LLP as Auditor 
 12.   of the Company.          409,175,856    99.18    3,402,846      0.82   412,578,702            91.68        3,599 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To authorise 
        the Audit Committee 
        to determine 
        the Auditor's 
 13.    remuneration.           412,530,707    99.99       50,745      0.01   412,581,452            91.68          850 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To authorise 
        the Board to 
        allot or sell 
        shares and grant 
        subscription/ 
        conversion rights 
 14.    over shares.            410,681,492    99.54    1,899,564      0.46   412,581,056            91.68        1,246 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To authorise 
        the Board to 
        allot or sell 
        shares without 
        complying with 
        pre-emption 
 15.    rights.                 412,430,253    99.96      152,049      0.04   412,582,302            91.68            0 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To authorise 
        the Company 
        to make market 
 16.    purchases.              408,045,972    98.91    4,489,005      1.09   412,534,977            91.67       47,324 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To authorise 
        the Company 
        to make political 
        donations and 
        incur political 
 17.    expenditure.            409,806,157    99.33    2,768,334      0.67   412,574,491            91.68        7,811 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
       To allow the 
        Company to hold 
        general meetings, 
        other than an 
        annual general 
        meeting, on 
        not less than 
        14 clear days' 
 18.    notice.                 404,658,706    98.08    7,923,596      1.92   412,582,302            91.68            0 
      -----------------------  ------------  -------  -----------  --------  ------------  ---------------  ----------- 
 

A 'vote withheld' is not a vote under English law and is, therefore, not included in the calculation of votes 'for' and 'against' a resolution. The 'for' vote includes those giving the Chairman discretion.

The total number of voting rights as at voting record date were 450,000,000 shares of GBP0.01 each.

In accordance with Listing Rule 9.6.2R, copies of the resolutions passed as special business will shortly be available for inspection on the National Storage Mechanism at http://www.morningstar.co.uk/uk/NSM.

A copy of the voting results shown above are also available on the Company's website at www.investors.countrysideproperties.com.

Resolution 2 (Remuneration Report)

In relation to the Remuneration Report (Resolution 2), the arrangements for the Executive Directors for 2019/20 have been set to be consistent with Countryside's pay principles and reflect the scale of the Group's operations.

Resolution 2 was passed with a majority of 77.97%, as detailed in the table above. Whilst having consulted with major shareholders prior to finalising the Report, the Board notes that a minority of shareholders have voted against the resolution.

The Committee is committed to keeping all aspects of remuneration under review and has already commenced further engagement with shareholders to better understand their concerns.

We thank those shareholders with whom we have already been in contact for their engagement with us on this matter. We will publish an update on this engagement, in accordance with the UK Corporate Governance Code, within six months of the AGM today.

For further information please contact:

Countryside Properties PLC - +44 (0) 1277 260 000

Iain McPherson - Group Chief Executive

Mike Scott - Group Chief Financial Officer

Victoria Prior - Investor Relations & Strategy Director

Brunswick Group LLP - +44 (0) 20 7404 5959

Nina Coad

Oli Sherwood

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.

END

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