Safestore To Engage With Shareholders Over Remuneration Policy

LONDON (Alliance News) - Self-storage company Safestore Holdings PLC said Wednesday that 48.26% ...

Alliance News 21 March, 2018 | 5:59PM
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LONDON (Alliance News) - Self-storage company Safestore Holdings PLC said Wednesday that 48.26% shareholders voted against the company's remuneration report at the annual general meeting, and added that it will be engaging with shareholders relating to the company's remuneration policy.

The company also said all resolutions, including the remuneration report, was passed by the requisite majority by way of a poll at the annual meeting.

The company's remuneration report was approved by 51.74% shareholder votes. Significant amount of shareholders also voted against re-appointment of Claire Balmforth as director and the re-appointment of the other members of the remuneration committee.

"Although all resolutions were duly passed, the board recognises the significant votes against the Remuneration Report (Resolution 2), the re-appointment of Claire Balmforth as a director (Resolution 11) and the re-appointment of the other members of the Remuneration Committee (Resolutions 9,10 and 12)," said Chairman Alan Lewis.

"The board appreciates that the remuneration policy continues to divide opinion amongst shareholders and Claire, as Remuneration Committee Chairman, and I will as a matter of priority be listening to and engaging with shareholders. I can assure shareholders that our management team will be maintaining focus on delivering market beating performance and value to all shareholders," Lewis added.

Shares in the company closed at 516.25 pence, up 0.6%.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Safestore Holdings PLC 630.50 GBX -1.41 -
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