Intu Properties PLC Update on 2019 AGM resolution votes (8010R)
October 31 2019 - 6:34AM
UK Regulatory
TIDMINTU
RNS Number : 8010R
Intu Properties PLC
31 October 2019
LEI: 213800JSNTERD5CJZO95
intu properties plc ("intu or "the Company")
Update on 2019 Annual General Meeting resolution votes
At the Annual General Meeting of the Company held on 3 May 2019,
all resolutions proposed at the meeting were passed. The Company's
Result of AGM announcement is available on the Company's
website.
Although Resolution 13, an ordinary resolution to authorise the
Directors to allot the unissued share capital, was passed with a
majority of 66.37%, some South African institutional shareholders
voted against this resolution. This resulted in the Company's
inclusion in The Investment Association's public register of
shareholder dissent. intu is therefore providing an update in line
with the UK Corporate Governance Code and Investment Association
Guidelines.
The votes against Resolution 13 reflect prevailing institutional
voting guidelines in South Africa, which differ from those
generally applied in the UK regarding the subject of this
resolution. intu has regular contact with its South African
institutional shareholders and while they do not support this
resolution, they do acknowledge that intu will continue to operate
in accordance with UK market practice.
This will be explained in intu's 2019 Annual Report &
Accounts and in the explanatory notes to resolutions to be proposed
at its 2020 AGM.
ENQUIRIES
Susan Marsden
Group Company Secretary
+44(0) 207 960 1200
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END
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