Result of AGM
Springfield Properties plc announced that all resolutions were passed at its Annual General Meeting, with resolutions 1, 4, and 9 receiving overwhelming support of 99.99%, 100.00%, and 99.98% of votes cast respectively. However, the Board noted that over 20% of votes were cast against resolution 7, representing 9,998,734 votes against 32,030,373 votes for, and intends to engage with shareholders to understand their concerns. Resolutions 2, 3, 5, 6, and 8 also passed with varying degrees of opposition, with resolution 6 seeing 11.94% of votes cast against the Board's recommendation.
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Springfield Properties plc (AIM: SPR), a leading housebuilder in Scotland, gives notice that at the Annual General Meeting (“AGM”) of the Group, held yesterday, all resolutions were duly passed.
Details of the proxy voting results, which should be read alongside the Notice of AGM, 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 | 42,037,917 | 99.99 | 5,088 | 0.01 | 210 | 42,043,215 |
| 2 | 41,993,524 | 99.90 | 41,795 | 0.10 | 7,895 | 42,043,214 |
| 3 | 41,991,979 | 99.90 | 43,340 | 0.10 | 7,895 | 42,043,214 |
| 4 | 42,043,146 | 100.00 | 66 | 0.00 | 3 | 42,043,215 |
| 5 | 41,994,332 | 99.91 | 39,871 | 0.09 | 9,012 | 42,043,215 |
| 6 | 37,010,279 | 88.06 | 5,019,557 | 11.94 | 13,379 | 42,043,215 |
| 7 | 32,030,373 | 76.21 | 9,998,734 | 23.79 | 14,108 | 42,043,215 |
| 8 | 36,971,828 | 87.96 | 5,059,556 | 12.04 | 11,831 | 42,043,215 |
| 9 | 42,020,353 | 99.98 | 6,570 | 0.02 | 16,292 | 42,043,215 |
* Excludes withheld votes
There were no discretionary votes cast.
The Board is pleased that all resolutions were passed by the requisite majority of the shareholders who voted, but notes that over 20% of votes cast were against the Board’s recommendation in respect of resolution 7. The Board will engage with shareholders in respect of this resolution to ensure their views are understood.
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