LONDON - Town Centre Securities PLC, a property investment and development company, announced that its shareholders approved all resolutions at its Annual General Meeting (AGM) held on Wednesday. The company reported unanimous support for the adoption of financial statements for the year ended June 30, 2024, and re-election of its board members.
The resolutions included the approval of the Directors' Remuneration Report, re-election of non-executive and executive directors, reappointment of BDO as the company's auditors, and authorization for the board to allot shares and disapply pre-emption rights. Notably, the resolution to authorize the company to purchase its own shares received near-unanimous support with 99.99% votes in favor.
All resolutions were passed with significant majorities, reflecting shareholder confidence in the management and strategic direction of the company. For instance, the re-election of M Ziff as a non-executive director received a 99.75% approval rate, while I Marcus and P Huberman were re-elected with 99.85% of the votes.
The AGM also included a resolution to authorize the Directors to make political donations, which was approved with 99.88% votes for. Additionally, the board was authorized to convene general meetings with 14 clear days' notice, receiving a 99.93% approval rate.
The company confirmed that the total number of shares with voting rights at the date of the AGM was 42,162,679, and that a 'vote withheld' is not a vote in law and is not counted in the calculation of the votes for and against a resolution.
In a forward-looking statement, Town Centre Securities indicated that it intends to announce its half-year results for the six months ending December 31, 2024, by March 2025, with a specific date to be confirmed in a subsequent announcement to shareholders.
The information provided is based on a press release statement from Town Centre Securities.
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