Hammerson : 2019 Annual General Meeting Voting Results - Update Statement

2019 Annual General Meeting Voting Results - Update Statement

 
Hammerson plc 
(Incorporated in England and Wales)  
(Company number 360632) 
LSE share code: HMSO     JSE share code: HMN 
ISIN: GB0004065016 
('Hammerson' or 'the Company')  
 
2019 Annual General Meeting Voting Results - Update Statement 
28 October 2019 
 
At the Company's Annual General Meeting (AGM) held on 30 April 2019, 20 per cent or more of 
votes were cast against resolutions 2 and 14. In the announcement released immediately following 
the AGM, the Board outlined the actions that it intended to take to understand and address 
shareholder concerns and an update is provided below.  
 
Although resolution 2 (the Remuneration Report) was passed with the necessary majority, 29.7% of 
the votes received were against. Since the AGM, the Remuneration Committee has carried out its 
regular triennial review of the remuneration structure and quantum, prior to submitting the revised 
Remuneration Policy to shareholders at the AGM in 2020. A consultation with major shareholders 
and voting advisory agencies on the proposed Remuneration Policy is under way to ensure that 
executive reward continues to be aligned with shareholder interests.  
 
Resolution 14 (authority to allot shares) was passed with the necessary majority. However, 30.2% of 
the votes received were against. This resolution is considered routine for listed companies in the UK 
and is within the Investment Association's Share Capital Management Guidelines. The Board is 
aware, however, that certain overseas institutional investors have a policy of not supporting this 
authority for the Directors to issue shares. Since the AGM, the Company has further engaged with 
shareholders on this resolution and still considers the flexibility afforded by this authority to be in the 
best interests of the Company and shareholders.  
 
The Company will continue to engage with shareholders and will provide a final update in the 2019 
Annual Report and Accounts. 
 
 
Julia Crane 
Deputy Company Secretary 
 
 
Hammerson has its primary listing on the London Stock Exchange and a secondary inward listing on 
the Johannesburg Stock Exchange. 
 
Sponsor: 
Investec Bank Limited 
 

Attachments SENS_20191028_S422107.pdf