The Local Shopping REIT plc ("the Company" or "LSR")
Results of General Meeting held on 8 December 2016
The Local Shopping REIT plc announces that the results of the resolutions considered at the General Meeting of the Company held on 8 December 2016 were as set out below.
Resolutions proposed by Thalassa Holdings Ltd ("Thalassa"):
|
Resolution
|
For |
Against |
Total votes validly cast* |
Total votes cast as % of shares in issue |
No. of Votes Withheld |
|||
|
No. of Votes |
% of votes cast |
No. of Votes |
% of votes cast |
|||||
|
1 |
Remove Stephen East as a director of the Company |
597,597 |
1.50
|
39,268,887 |
98.50 |
39,866,484 |
48.32 |
19,701,218 |
|
2 |
Remove Nicholas Vetch as a director of the Company |
597,597 |
1.50
|
39,268,887 |
98.50 |
39,866,484 |
48.32 |
19,701,218 |
|
3 |
Appoint Duncan Soukup as a director of the Company |
597,597 |
1.50
|
39,268,087 |
98.50 |
39,865,684 |
48.32 |
19,702,018 |
|
4 |
Appoint John Hutchinson as a director of the Company |
20,088,815 |
33.87 |
39,228,087 |
66.13 |
59,316,902 |
71.89 |
250,800 |
|
5 |
Appoint Toby Burgess as a director of the Company |
598,397 |
1.50
|
39,268,087 |
98.50 |
39,866,484 |
48.32 |
19,701,218 |
Resolution proposed by the Board of the Company:
|
Resolution
|
For |
Against |
Total votes validly cast* |
Total votes cast as % of shares in issue |
No. of Votes Withheld |
|||
|
No. of Votes |
% of votes cast |
No. of Votes |
% of votes cast |
|||||
|
6 |
Reduce the minimum size of the Company's Board to two Directors as permitted by article 116 of the Company's articles of association |
37,389,981 |
63.14 |
21,825,477 |
36.86 |
59,215,458 |
71.77 |
352,244 |
*Excluding votes withheld.
All resolutions were voted on by poll. As at 6:30pm on 6 December 2016, being the record date for the General Meeting, the total number of shares in issue (excluding shares held in treasury) was 82,505,853.
LSR's Chairman, Stephen East, commented:
"Excluding the voting of its own shares, Thalassa has received less than 2% of votes polled in favour of its resolutions. This process has frustratingly resulted in unnecessary expense for LSR shareholders, which will be recognised in the current accounting period. The Board of LSR is grateful to the overwhelming majority of its shareholders for their support and will set out its roadmap for the completion of the Company's strategic plan in our annual results statement, which will be published on 12 December 2016. In the meantime, the Board will continue to act in the best interests of all shareholders, including Thalassa, and prosecute its plans as expeditiously and sensibly as possible."
The results of the General Meeting will also be made available on the Company's website: www.localshoppingreit.co.uk.
