Picton Prop Inc Ltd Result of AGM
14 November 2015 - 4:26AM
UK Regulatory
TIDMPCTN
Picton Property Income Limited (the" Company")
Result of Annual General Meeting
13 November 2015
At the Annual General Meeting ("AGM") held on 12 November 2015, all Resolutions
set out in the AGM Notice sent to shareholders on 7 October 2015, were duly
passed. A copy of the full voting totals will be published on the Company's
website at: www.picton.co.uk
The following Special Business resolutions were also passed:
MARKET IT WAS RESOLVED TO renew the authority of the Company, in
ACQUISITIONS: accordance with Section 315 of The Companies (Guernsey) Law, 2008
(as amended) ("the Law"), to make market acquisitions (within the
meaning of Section 316 of the Law) of the Ordinary Shares of No Par
Value in the share capital of the Company ("the Ordinary Shares")
provided that:-
(a) the maximum number of Ordinary Shares hereby authorised to be
acquired shall be 14.99 per cent of the issued Ordinary Shares on
the date on which this resolution is passed;
(b) the minimum price which may be paid for an Ordinary Share shall
be 1p;
(c) the maximum price (exclusive of expenses) which may be paid for
an Ordinary Share shall be an amount equal to the higher of 105 per
cent of the average of the middle market quotations (as derived
from the Daily Official List) for the Ordinary Shares for the five
business days immediately preceding the date of purchase or the
higher of such price of the last independent trade and the highest
current independent bid at the time of purchase; and
(d) unless previously varied, revoked or renewed, the authority
hereby conferred shall expire at the conclusion of the Annual
General Meeting of the Company to be held in 2016, save that the
Company may, prior to such expiry, enter into a contract to
purchase Ordinary Shares under such authority and may make a
purchase of Ordinary Shares pursuant to any such contract.
EXTRA-ORDINARY IT WAS RESOLVED TO empower the Directors of the Company to disapply
RESOLUTION - the right of shareholders to receive a pre-emptive offer of new
PRE-EMPTION Ordinary Shares pursuant to Article 4.17 of the Articles of
RIGHTS: Incorporation provided that this power shall be limited to the
issue of up to 54,005,366 Ordinary Shares (being equal to 10 per
cent of the Ordinary Shares in issue as at the date of this Notice)
and shall expire (unless previously renewed, varied or revoked by
the Company in a general meeting) at the end of the Annual General
Meeting of the Company held in 2016, or, if earlier, the date
falling 15 months after the date of this Resolution, but during
this period the Company may make offers, and enter into agreements,
which would, or might, require Ordinary Shares to be issued (and
treasury shares to be sold) after the power given to the Board
pursuant to this Resolution ends and the Board may issue Ordinary
Shares (and sell treasury shares) under any such offer or agreement
as if the power had not ended.
For further information:
David Sauvarin
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Tel: 01481 745529
Fax: 01481 745085
Note to Editors
Picton Property Income Limited ('Picton') is an income focused, property
investment company listed on the London Stock Exchange. Picton can invest both
directly and indirectly in commercial property across the United Kingdom.
With Net Assets of GBP393.1 million at 30 September 2015, the Company's objective
is to provide shareholders with an attractive level of income, together with
the potential for capital growth by investing in the principal commercial
property sectors. www.picton.co.uk
END
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