28th Oct 2019 08:34
(Alliance News) - Shopping centre operator Hammerson PLC said Monday it has consulted with shareholders following the considerable opposition registered against two of the resolutions proposed at its annual general meeting back in April.
At the meeting, resolution two - which is for the approval of the 2018 directors' remuneration report - was passed, but 30% of company shareholders voted against it.
A similar number voted against resolution 14, which is for granting the company the authority to allot shares.
Concerning resolution two, Hammerson said it has started a consultation with major shareholders and voting advisory agencies over its proposed remuneration policy.
For resolution 14, the property group noted that certain overseas institutional investors have a policy of not supporting the authority for the directors to issue shares.
Hammerson has continued to engage with shareholders on this resolution and said it still considers the flexibility given by this authority to be in the best interests of the company and shareholders.
Shares in Hammerson were flat at 304.70 pence on Monday morning in London, while its Johannesburg shares were 0.4% lower at ZAR56.95.
By Dayo Laniyan; [email protected]
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