News

Ethical Property Founder Jamie Hartzell

Ethical Property EGM 2019

It was wonderful to see so many of our shareholders in Bristol at our EGM on the 19th November. This was an important opportunity for you to here about our plans, visit our latest centre the Streamline, as well vote on our proposed resolutions to raise more capital, improve liquidity, safeguard our mission and improve governance. It was also a valuable opportunity for us to answer your questions and hear your views on matters that are at the centre of what we do.

The event was well attended and included talks from Conrad Peberdy, our Managing Director who gave a review of the year as well as an outline of our future strategy, who was followed by Jamie Hartzell who explained why we are seeking to make changes to our articles and the benefit of the liquidity scheme. We were joined by two guest speakers, Dan Hird from Triodos and Michael Flint from Ethex, who went into further detail on our capital raising plans and the liquidity proposals.

Five resolutions were put to our shareholders. To get a sense of shareholder views, there was a vote by show of hands for each resolution. However, the Chair explained that a poll vote would be conducted to enable a more fully representative view of shareholders wishes that would include proxy votes lodged in advance of the meeting as well as the votes cast on the day.

Ordinary Resolutions 1 to 3 required more than 50% of the votes cast to be in favour to pass, Special Resolutions 4 and 5 required at least 75% of the votes cast to be in favour to pass.

 

 All five resolutions passed, and the results were as follows:

 

Ordinary Resolution One-Authority to Issue Shares

For: 5,840,602 votes (77.78% of the total votes cast)

Against: 1,668,650 votes (22.22% of the total votes cast)

Withheld: 537,000 votes

 

(Ordinary) Resolution Two-First Share Repurchase Agreement

For: 3,149,005 votes (60.03% of the total votes cast)

Against: 2,097,000 votes (39.7% of the total votes cast)

Withheld: 0 votes

 

(Ordinary) Resolution Three-Second Share Repurchase Agreement

For: 2,709,367 votes (99.99% of the total votes cast)

Against: 100 votes (0.00% of the total votes cast)

Withheld: 90,780 votes

 

(Special) Resolution Four-Adoption of New Articles of Association

For: 7,456,852 votes (92.71% of the total votes cast)

Against: 586,600 votes (7.29% of the total votes cast)

Withheld: 2,800 votes

 

(Special) Resolution Five-Conversion to a Public Limited Company (PLC)

For: 7,174,628 votes (96.25% of the total votes cast)

Against: 279,525 votes (3.75% of the total votes cast)

Withheld: 592,099

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