Empiric Student Property plc
("Empiric" or the "Company" or, together with its subsidiaries, the "Group")
RESULTS OF ANNUAL GENERAL MEETING
Empiric Student Property plc (ticker: ESP), the owner and operator of premium, studio-led student accommodation aligned to top-tier universities, announces that all resolutions proposed at the Company's Annual General Meeting held on 22 May 2024 were voted on and duly passed by a poll by the Company's shareholders and the results of the poll, including proxy votes received, are set out below.
Resolutions 1 to 14 (inclusive) were proposed as ordinary resolutions and resolutions 15 to 18 (inclusive) were proposed as special resolutions.
| RESOLUTION | FOR* | AGAINST | WITHHELD VOTES** | ||
|
| VOTES | % OF VOTES CAST* | VOTES | % OF VOTES CAST* |
|
| 1. To receive the Company's Annual Report and Accounts for the financial year ended 31 December 2023 | 454,756,254 | 99.9953 | 21,586 | 0.0047 | 316,535 |
| 2. To approve the Directors' Remuneration Report for the year ended 31 December 2023 | 415,178,567 | 91.2336 | 39,893,651 | 8.7664 | 22,157 |
| 3. To approve a replacement Long Term Incentive Plan | 448,055,710 | 98.4599 | 7,008,386 | 1.5401 | 30,279 |
| 4. To re-appoint BDO LLP as Auditors of the Company | 448,245,594 | 99.9837 | 73,251 | 0.0163 | 6,775,530 |
| 5. To authorise the Directors to determine the remuneration of the Auditors | 455,037,108 | 99.9880 | 54,458 | 0.0120 | 2,809 |
| 6. To authorise the Directors to declare and pay all dividends as interim dividends | 454,246,539 | 99.9979 | 9,386 | 0.0021 | 838,450 |
| 7. To re-elect Mark Pain as a Director of the Company | 376,489,469 | 89.7282 | 43,099,394 | 10.2718 | 35,505,512 |
| 8. To elect Alice Avis as a Director of the Company | 449,974,665 | 98.8763 | 5,113,939 | 1.1237 | 5,771 |
| 9. To re-elect Duncan Garrood as a Director of the Company | 453,853,940 | 99.7288 | 1,234,265 | 0.2712 | 6,170 |
| 10. To re-elect Martin Ratchford as a Director of the Company | 449,976,986 | 98.8769 | 5,111,218 | 1.1231 | 6,171 |
| 11. To re-elect Clair Preston-Beer as a Director of the Company | 449,978,518 | 98.8771 | 5,110,086 | 1.1229 | 5,771 |
| 12. To re-elect Donald Grant as a Director of the Company | 451,298,409 | 99.1672 | 3,789,796 | 0.8328 | 6,170 |
| 13. To authorise the Directors to allot shares under up to the limits set out in the Notice of meeting | 438,075,450 | 96.2616 | 17,013,152 | 3.7384 | 5,773 |
| 14. To approve the Company's two-year Climate Strategy Plan. | 328,749,307 | 74.7764 | 110,893,575 | 25.2236 | 15,451,493 |
| 15. Special Resolution - To authorise the Directors to allot equity securities for cash, without making a pre-emptive offer to shareholders, up to the limits set out in the Notice of Meeting. | 419,365,759 | 92.1576 | 35,687,126 | 7.8424 | 41,490 |
| 16. Special Resolution To authorise the Directors to allot equity securities for cash in connection with a specified investment, without making a pre-emptive offer to shareholders, up to the limits set out in the Notice of Meeting. | 404,313,335 | 88.8814 | 50,577,677 | 11.1186 | 203,363 |
| 17. Special Resolution To authorise the Company to make market purchases of own shares in the Company | 448,156,276 | 98.5026 | 6,812,633 | 1.4974 | 125,466 |
| 18. Special resolution - That a general meeting may be called on not less than 14 clear days' notice | 437,621,390 | 96.1606 | 17,472,981 | 3.8394 | 4 |
* Includes discretionary votes
** A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution.
As at the date of the meeting, there were 603,463,617 ordinary shares with voting rights in issue. The Company does not hold any shares in Treasury.
The Company was disappointed with the outcome of resolution 14, regarding the advisory vote on its two-year climate related commitments. We will shortly engage with shareholders to better understand the votes received against this resolution.
In accordance with Listing Rule 9.6.2(R), a copy of the resolutions passed at the Annual General Meeting, other than those constituting ordinary business, will be available for inspection on the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
ENDS
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
| Empiric Student Property plc | (via FTI Consulting below) |
| Duncan Garrood (Chief Executive Officer) | |
| Donald Grant (Chief Financial & Sustainability Officer) | |
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| FTI Consulting (Communications Adviser) | 020 3727 1000 |
| Dido Laurimore Eve Kirmatzis |
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The Company's LEI is 213800FPF38IBPRFPU87.
Further information on Empiric can be found on the Company's website at www.empiric.co.uk.
Notes:
Empiric Student Property plc is a leading provider and operator of modern, predominantly direct-let, premium student accommodation serving key UK universities. Investing in both operating and development assets, Empiric is a fully integrated operational student property business focused on premium studio-led accommodation managed through its Hello Student operating platform, that is attractive to affluent growing student segments.
The Company, an internally managed real estate investment trust ("REIT") incorporated in England and Wales, listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in June 2014. The Company is classified as a commercial company listed under chapter 6 of the UK Listing rules and as such is not an alternative investment fund ("AIF") for the purposes of the Alternative Investment Fund Managers Directive ("AIFMD") and is not required to provide investors with a Key information Document ("KID") in accordance with the Packaged Retail and Insurance-based Investment Products ("PRIIPs") regulations.
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