20 February 2025
HOME REIT plc
(the "Company")
RESULTS OF ANNUAL GENERAL MEETING
Following the Annual General Meeting of the Company held earlier today, the Board is pleased to announce that the resolutions, as set out in the notice of the Annual General Meeting sent to shareholders on 27 January 2025, were approved by shareholders. The resolutions put to the meeting were voted on by way of a poll.
In accordance with UK Listing Rule 6.4.2, a copy of the resolutions that do not constitute ordinary business at an Annual General Meeting have been submitted to the National Storage Mechanism and will be available shortly for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
The results of the poll were as follows:
| Resolution
| In favour¹ | Against | Votes withheld² | % of issued share capital voted | ||
| Number of votes | Percentage | Number of votes | Percentage | | ||
| 1. To receive the Annual Report and Accounts for the year ended 31 August 2023, together with the reports of the Directors and Auditor thereon. |
245,396,593 |
55.10%
|
199,942,709 |
44.90% |
75,786,237 |
56.33% |
| 2. To approve the Directors' Remuneration Report, as set out in the Annual Report and Accounts for the year ended 31 August 2023. | 520,322,042 | 99.86% | 706,719 | 0.14% | 96,778 | 65.91% |
| 3. To approve the Directors' Remuneration Policy. | 516,026,279 | 99.04% | 4,982,582 | 0.96% | 116,678 | 65.90% |
|
4. To re-elect Roderick Day as a Director of the Company. |
478,902,568 | 98.89% | 5,360,721 | 1.11% | 36,862,250 | 61.25% |
| 5. To re-elect Michael O'Donnell as a Director of the Company. | 471,652,159 | 90.51% | 49,427,720 | 9.49% | 45,660 | 65.91% |
| 6. To re-elect Peter Williams as a Director of the Company. | 511,079,458 | 98.08% | 10,000,421 | 1.92% | 45,660 | 65.91% |
| 7. To re-appoint BDO LLP as Auditor to the Company. | 479,468,109 | 92.01% | 41,633,371 | 7.99% | 24,059 | 65.91% |
| 8. To authorise the Directors to determine the Auditor's remuneration. | 479,477,542 | 92.02% | 41,606,044 | 7.98% | 41,953 | 65.91% |
| 9. Special Resolution That the Company be authorised to make market purchases of its Ordinary Shares. | 515,322,131 | 98.91% | 5,668,339 | 1.09% | 135,069 | 65.90% |
| 10. Special Resolution That the Company be authorised to make tender offers for its Ordinary Shares. | 517,123,442 | 99.27% | 3,824,342 | 0.73% | 177,755 | 65.90% |
| 11. Special Resolution That the amount standing to the credit of the share premium account of the Company be cancelled. | 520,768,517 | 99.95% | 246,478 | 0.05% | 110,544 | 65.90% |
| 12. Special Resolution That a General Meeting of the Company other than an Annual General Meeting may be called on not less than 14 clear days' notice. | 511,196,132 | 98.10% | 9,902,099 | 1.90% | 27,308 | 65.91% |
¹ Any proxy arrangement which gave discretion to the Chair has been included in the 'For' totals.
² A 'Vote Withheld' is not a vote in law and is not counted in the total votes cast or the calculation of the percentage of votes 'For' or 'Against' each resolution.
The full text of the resolutions can be found in the Notice of the Annual General Meeting, which is available on the Company's website, www.homereituk.com.
On the record date for voting at the meeting, the Company's issued share capital consisted of 790,570,465 ordinary shares of £0.01 nominal value each, carrying one vote each. The Company holds no shares in treasury. Therefore, the total number of voting rights in the Company was 790,570,465.
The Board of the Company notes that although the resolution to receive the Company's annual report and accounts for the year ended 31 August 2023 was passed, there were a material number of votes cast against and it also notes that shareholder advisory consultants recommended that shareholders vote against the resolution. The Board would like to emphasise that the Group and Company's Statement of Financial Position for 31 August 2023 is not subject to the disclaimer of opinion issued with respect to the Consolidated Statement of Comprehensive Income, Consolidated Statement of Changes in Shareholders' Equity and Consolidated Statement of Cash Flows, which disclaimer was a direct result of BDO's inability to gain adequate comfort on the 31 August 2022 Statement of Financial Position. The Board understands and shares shareholders' frustrations regarding the delays experienced in publishing the Company's outstanding annual and interim accounts. In accordance with the AIC Corporate Governance Code, the Company intends to consult further with relevant shareholders to understand the reasons behind the result, beyond discussions that have already taken place prior to the Annual General Meeting (and General Meeting on 5 December 2024 where shareholders voted against the resolution to receive the Company's annual report and accounts for the year ended 31 August 2022). It intends to provide an update on or before the 4 June 2025 (being within six months of the date of the General Meeting on 5 December 2024).
FOR FURTHER INFORMATION, PLEASE CONTACT:
FTI Consulting (Communications Adviser) HomeREIT@fticonsulting.com
Dido Laurimore +44 (0)20 3727 1000
Oliver Harrison
Bryn Woodward
The Company's LEI is: 213800A53AOVH3FCGG44.
For more information, please visit the Company's website: www.homereituk.com
END
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