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HAMMERSON PLC - 2019 Annual General Meeting Voting Results - Update Statement

Release Date: 28/10/2019 09:00
Code(s): HMN     PDF:  
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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

Date: 28/10/2019 09:00:00
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