Circle Property PLC Result of AGM (6972J)
21 August 2019 - 3:07AM
UK Regulatory
TIDMCRC
RNS Number : 6972J
Circle Property PLC
20 August 2019
20 August 2019
Circle Property Plc
("Circle" or the "Company")
Result of Annual General Meeting
Circle Property Plc (AIM: CRC), which invests in, develops and
actively manages well-located regional office assets, is pleased to
announce that all resolutions put to shareholders at the Company's
Annual General Meeting held today were duly passed.
The total votes were cast as follows:
Resolution For % Against % Withheld
Ordinary Resolution
----------- ------ ---------- ----- ---------
1 15,620,655 100 0 0 0
----------- ------ ---------- ----- ---------
2 15,620,655 100 0 0 0
----------- ------ ---------- ----- ---------
3 15,620,655 100 0 0 0
----------- ------ ---------- ----- ---------
4 15,620,512 99.99 143 0.01 0
----------- ------ ---------- ----- ---------
5 15,620,615 99.99 40 0.01 0
----------- ------ ---------- ----- ---------
6 14,028,115 89.80 1,592,540 10.2 0
----------- ------ ---------- ----- ---------
7 14,028,115 89.80 1,592,540 10.2 0
----------- ------ ---------- ----- ---------
Special Resolution
----------- ------ ---------- ----- ---------
8 15,620,615 99.99 40 0.01 0
----------- ------ ---------- ----- ---------
Following the passing of the resolutions, inter alia, a final
dividend of 3.3p per share will be paid on 22 August 2019 to
shareholders on the register on 19 July 2019.
+44 (0)20 7930
Circle Property Plc 8503
John Arnold, CEO
Edward Olins, COO
Cenkos Securities plc +44 (0)20 7397 8900
Azhic Basirov
Katy Birkin
Radnor Capital
Joshua Cryer
Iain Daly +44 (0)20 3897 1830
Camarco +44 (0)20 3757 4980
Ginny Pulbrook
Tom Huddart
About Circle Property Plc
Circle is the best performing quoted UK real estate company by
NAV total return (NAV growth and dividend)(1) having delivered
consistent returns with 86% NAV growth since IPO in 2016 in
absolute terms.
Circle focusses on acquiring assets in regional cities, many of
which have significant office supply constraints, and on office
assets with active management potential (refurbishment
opportunities, under-rented or vacant properties or short leases),
rather than just maximising initial rental yields.
Circle is not a Real Estate Investment Trust (REIT) and can
actively recycle proceeds from asset sales into its refurbishment
and redevelopment pipeline, as well as future investment
opportunities, therefore targeting a broader range of returns for
shareholders, which are primarily driven by NAV growth.
As well as already delivering substantial increases in NAV, the
Company's portfolio has significant reversionary potential with
total estimated rental values of GBP10.34m per annum, compared to
contracted rent of GBP7.61m at 31 March 2019. The Company has a
portfolio of 16 regional commercial property investment and
development assets in the UK valued at GBP139.2m.
(1) Source: Radnor Capital research, 31 March 2019
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END
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