2025 Annual General Meeting Results Update
AGM voting results update: two resolutions passed, two pre-emption disapplication resolutions failed to pass.
- Resolution 13 (political donations) votes in favour 75.40%
- Resolution 13 (political donations) votes against 24.60%
- Resolution 14 (allotment authority) votes in favour 67.50%
- Resolution 14 (allotment authority) votes against 32.50%
- Resolution 15 (pre-emption disapplication) votes against 32.57%
- Resolution 16 (additional pre-emption disapplication) votes against 32.65%
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In accordance with provision 4 of the UK Corporate Governance Code, the Company is providing the following update to the Annual General Meeting ("AGM") voting results announced on 7 May 2025 regarding the significant votes (defined as over 20% of votes cast) against the following resolutions:
| For | Against | ||
|---|---|---|---|
| Resolution 13 | to authorise the Company to make political donations and incur political expenditure | 75.40% | 24.60% |
| Resolution 14 | to authorise the directors to allot ordinary shares | 67.50% | 32.50% |
| Resolution 15 | to authorise the disapplication of pre-emption rights | 67.43% | 32.57% |
| Resolution 16 | to authorise the additional disapplication of pre-emption rights | 67.35% | 32.65% |
Resolutions 13 and 14 passed, and Resolutions 15 and 16 failed to pass.
The Company has engaged with the largest shareholders who did not support the resolutions to obtain their views. The Company notes that the significant votes against all the resolutions were attributable to the shareholders' policy positions, rather than matters specific to the Company.
As detailed in the 2025 AGM Results announcement, the Company does not give any money for political purposes, nor does it make any donations to political organisations or incur political expenditure. However, in line with UK market practice, the authority under Resolution 13 is requested as a precautionary measure as the definitions of political donations and political expenditure used in the Companies Act 2006 (the "Act") are very wide, to ensure that the Company does not inadvertently breach the relevant provisions of the Act.
The allotment authority under Resolution 14 falls within the Investment Association's Share Capital Management Guidelines and was consistent with the approach taken by the Company at the prior AGM.
The authority to disapply pre-emption rights under Resolutions 15 and 16 falls within the Pre-Emption Group's Statement of Principles, as revised in November 2022, and was consistent with the approach taken by the Company at the prior AGM.
The purpose of these resolutions is to afford the Board flexibility to act quickly in response to changing market conditions, should the appropriate circumstances arise and should it be in the best interests of the Company.
The Board remains committed to maintaining an open and transparent dialogue with shareholders and will proactively engage with shareholders on their corporate governance policies and any other concerns prior to the next AGM.
| Foxtons Group plc | investor@foxtonsgroup.co.uk |
| Chris Hough, Chief Financial Officer Muhammad Patel, Investor Relations | +44 20 7893 6261 |
| Cardew Group Will Baldwin-Charles / Olivia Rosser | Foxtons@cardewgroup.com +44 7834 524833 / +44 7552 864 250 |
| MUFG Corporate Governance Limited Company Secretary | Foxtons@cm.mpms.mufg.com |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.