RNS Number : 7911V
Palace Capital PLC
25 July 2018
25 July 2018
Palace Capital PLC
("Palace Capital" or the "Company")
Result of AGM
Palace Capital, the property investment company that focusses on commercial property outside London, announces that at the Company's Annual General Meeting held earlier today, all resolutions were duly passed.
The resolutions were as set out in the Notice of Meeting, as filed with the National Storage Mechanism (www.morningstar.co.uk/uk/NSM) and are also available on the company's website, www.palacecapitalplc.com/.
There are a total of 45,805,280 ordinary shares in issue. Proxy appointments were received from shareholders holding 32,440,391 ordinary shares amounting to 70.8 per cent. of the issued ordinary share capital.
All resolutions were passed on a show of hands with resolutions 1 to 7 and 13 passed as ordinary resolutions and resolutions 8 to 12 passed as special resolutions.
|
Resolution |
In Favour Votes |
|
Against Votes |
|
Withheld Votes |
|
|
No. |
% |
No. |
% |
|
|
|
|
|
|
|
|
|
1. Annual Report approval |
32,268,127 |
99.47 |
172,264 |
0.53 |
- |
|
2. Directors` Remuneration Report |
31,472,546 |
97.03 |
964,850 |
2.97 |
2,995 |
|
3. Declaration of dividend |
32,403,619 |
99.99 |
3,124 |
0.01 |
33,648 |
|
4. Reappointment and remuneration of the auditors |
32,438,912 |
99.99 |
1,479 |
0.01 |
- |
|
5. Re-election of Director |
32,430,392 |
99.97 |
9,999 |
0.03 |
|
|
6. Re-election of Director |
32,437,205 |
99.99 |
3,186 |
0.01 |
- |
|
7. Authority to allot ordinary shares |
32,436,267 |
99.99 |
4,124 |
0.01 |
- |
|
8. General disapplication of pre-emption rights |
31,327,651 |
96.57 |
1,112,738 |
3.43 |
2 |
|
9. Additional authority to disapply pre-emption rights |
31,327,729 |
96.57 |
1,111,260 |
3.43 |
1,402 |
|
10. Market purchase of own shares |
32,434,867 |
99.99 |
4,124 |
0.01 |
1,400 |
|
11. Adoption of new Articles of Association |
32,435,166 |
99.99 |
3,125 |
0.01 |
2,100 |
|
12. Notice of General Meetings |
32,429,589 |
99.97 |
10,800 |
0.03 |
2 |
|
13. Approval of Directors' remuneration policy |
32,300,663 |
99.47 |
173,706 |
0.53 |
13,570 |
A vote withheld is not a vote in law and is not counted in the calculation of the number or % of votes "For" or "Against" a resolution.
For further information, contact:
Palace Capital plc
Neil Sinclair, Chief Executive
Stephen Silvester, Finance Director
Tel. 44 (0)20 3301 8331
Arden Partners plc (Lead Broker)
Chris Hardie / Ciaran Walsh / Alex Penney
Tel. 44 (0)207 614 5917
Allenby Capital Limited (Joint Broker)
Nick Naylor / James Reeve / Asha Chotai
Tel. 44 (0)20 3328 5656
Capital Access Group (Financial PR)
Scott Fulton
Tel. 44 (0)20 3763 3400
About Palace Capital plc (www.palacecapitalplc.com):
Palace Capital is a UK property investment company admitted to trading on the London Stock Exchange plc's main market (LSE: PCA). The Company is not sector specific and looks for opportunities where it can enhance the long-term income and capital value through asset management and strategic capital development in locations outside London. In its last reported financial year, Palace Capital produced a 27% increase in adjusted profit before tax, a 7% uplift in EPRA NAV per share from a post fundraise proforma base and a 3% increase in dividends for the year ending 31 March 2018.
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