ANNUAL GENERAL MEETING 2012

The Chelsea Pitch Owners plc. annual general meeting was held on 20 January at Stamford Bridge.

The result of the voting on the 11 resolutions put to the meeting was as follows:


1. That the accounts for the financial year ended 31 July 2011 together with the reports of the Directors and Auditors be received.

For 3723 Against 279


2. To re-elect Steven John Frankham as a Director.

For 3247 Against 869


3. To re-elect Richard Graham Catherwood Smith as a Director.

For 3363 Against 635


4. To re-elect Dennis Frank Wise as a Director.

For 3264 Against 856


5. To re-elect Richard John Glanvill as a Director.

For 3140 Against 983


6. To re-elect Robert John Sewell as a Director.

For 3106 Against 1015


7. That Hannaways be re-appointed as auditors to the Company.

For 3101 Against 920


8. That the Directors be authorised to fix the remuneration of Hannaways.

For 3156 Against 857


9. That the Directors be authorised, in accordance with section 551 of the Companies Act 2006 (the "CA 2006"), to allot shares and grant rights to subscribe for or convert any security into shares.

For 2835 Against 1279


10. That, in substitution of all existing authorities and subject to the passing of resolution 9, the Directors be generally empowered, in accordance with section 570 of the CA 2006, to allot equity securities (within the meaning of section 560 of the CA 2006) for cash pursuant to the authority conferred by resolution 9, as if section 561(1) of the CA 2006 did not apply to any such allotment.

For 2802 Against 1220


11. That the articles of association of the Company be amended by deleting in entirety the existing wording in article 1(D) and replacing the said article 1(D) with the following wording:

"Number of Directors

(D) The Directors shall be not less than two and not more than seven in number."

For 2102 Against 1930


As resolutions 1 to 9 were all ordinary resolutions and received at least 50 per cent of votes for, the resolutions were passed.

As resolutions 10 and 11 were special resolution and received less than 75 per cent of the votes for, they have not been passed.

Therefore, although the passing of resolution 9 means the company can resume selling shares, the fact resolution 10 was not passed means new shares can only be bought by existing shareholders on a pro rata basis. As this is impractical, the company will not be resuming the sale of shares.

As resolution 11 was not passed, the number of directors on the board will be five.