Result of General Meeting
Springfield Properties plc shareholders overwhelmingly approved a share buyback programme at a general meeting, with 99.8% of votes in favour. The company intends to purchase up to 5,957,372 ordinary shares on the market, with the flexibility to increase this to the full authority limit of 11,904,240 shares. A further announcement will confirm the formal launch of this buyback programme.
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Springfield Properties plc (AIM: SPR), a leading housebuilder in Scotland, announces that at the general meeting of the Company, held earlier today, all resolutions were duly passed with an approval rating of 99.8%. This includes shareholder approval of a proposed share buyback programme in respect of ordinary shares of 0.125 pence each in the capital of the Company ("Ordinary Shares").
The Company intends to undertake a programme or programmes of on-market purchases of up to 5,957,372 Ordinary Shares, with flexibility to extend the purchases up to the full buyback authority limit of 11,904,240 Ordinary Shares (the "Buyback Programme").
A further announcement will be issued in due course confirming the formal launch of the Buyback Programme.
Details of the proxy voting results, which should be read alongside the Notice of General Meeting, are below:
| Resolution | Votes for* | Votes against | Votes withheld | Total proxy votes | ||
|---|---|---|---|---|---|---|
| No. of votes | % of votes cast** | No. of votes | % of votes cast** | No. of votes | ||
| 1 | 28,730,676 | 99.78 | 63,252 | 0.22 | 12,670 | 28,806,598 |
| 2 | 28,722,671 | 99.78 | 63,026 | 0.22 | 20,901 | 28,806,598 |
* Includes discretionary votes
**Excludes withheld votes
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Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.