Target Healthcare REIT

Result of AGM
RNS Number : 3516H
Target Healthcare REIT PLC
03 December 2020
 

To:                   RNS

From:               Target Healthcare REIT plc

LEI:                  213800RXPY9WULUSBC04

Date:                3 December 2020

Subject:            Annual General Meeting Result

 

 

Target Healthcare REIT plc announces that, at the Annual General Meeting held on 2 December 2020, all resolutions proposed were duly passed.

 

The full text of the resolutions can be found in the Annual Report and Financial Statements 2020 (including the Notice of Annual General Meeting), copies of which have been submitted to the National Storage Mechanism and which are available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

Details of the proxy votes lodged before the Annual General Meeting, which should be read alongside the Notice of Annual General Meeting, are noted below and will be available shortly at www.targethealthcarereit.co.uk

 

 

For

Against

Withheld

 

Number of votes

%

Number of votes

%

Number of votes

1) Ordinary Resolution

264,341,632

100.00

1,291

0.00

-

2) Ordinary Resolution

260,215,271

98.83

3,090,104

1.17

1,037,548

3) Ordinary Resolution

264,329,043

100.00

1,291

0.00

12,589

4) Ordinary Resolution

253,750,161

99.99

14,165

0.01

10,578,597

5) Ordinary Resolution

264,328,830

100.00

1,504

0.00

12,589

6) Ordinary Resolution

263,281,636

99.99

24,541

0.01

1,036,746

7) Ordinary Resolution

257,576,375

97.82

5,729,589

2.18

1,036,959

8) Ordinary Resolution

263,281,636

99.99

24,541

0.01

1,036,746

9) Ordinary Resolution

263,281,423

99.99

24,541

0.01

1,036,959

10) Ordinary Resolution

263,281,423

99.99

24,754

0.01

1,036,746

11) Ordinary Resolution

263,316,486

100.00

1,291

0.00

1,025,146

12) Special Resolution

251,160,255

95.38

12,167,521

4.62

1,015,146

13) Special Resolution

263,055,177

99.91

247,425

0.09

1,040,320

14) Special Resolution

259,481,585

98.54

3,847,024

1.46

1,014,314

15) Special Resolution

207,559,554

78.56

56,642,467

21.44

140,901

 

Whilst all resolutions proposed were duly passed, the Board recognise that a significant number of votes were lodged against resolution 15, which was in relation to the amendment of the Company's Articles of Association, primarily to permit the Company to hold shareholder meetings on a virtual basis whereby shareholders are not required to attend the meeting in person at a physical location but may instead attend and participate using electronic means.

 

The Board has engaged in consultation with some shareholders who together account for a significant proportion of such votes and who have expressed concern that, in theory, the structure of virtual-only meetings can prevent meaningful shareholder engagement and allow management to more easily avoid difficult questions. In order to address such concerns, the Directors therefore confirm that, notwithstanding the permissions granted by the New Articles, they intend that the Company reverts to physical meetings as soon as the restrictions on physical gatherings are lifted and it is safe to do so. The Board re-iterates its commitment to enabling shareholder attendance at meetings wherever possible and confirms that it does not intend to restrict the ability of shareholders to physically attend a shareholder meeting, except in limited situations such as where travel or congregation in a physical location at the date of the meeting is forecast to be difficult, dangerous or otherwise restricted by government guidance or legislation.

 

The Board of Directors also announces that, pursuant to paragraph 9.6.11 R of the Listing Rules, Ms Alison Fyfe has been appointed as Chair of the Nomination Committee with immediate effect.

 

For further information please contact:       

 

Kenneth MacKenzie; Gordon Bland

Target Fund Managers Limited

01786 845 912

 

Mark Young

Stifel Nicolaus Europe Limited

020 7710 7600

 

Dido Laurimore; Claire Turvey; Richard Gotla

FTI Consulting

020 3727 1000

TargetHealthcare@fticonsulting.com 

 

 

 

 

 

 

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