9 November 2017
Picton Property Income
Limited
(“Picton” or the “Company”)
LEI: 213800RYE59K9CKR4497
Result of Annual
General Meeting
At the Annual General Meeting (“AGM”) held on 8 November 2017, all Resolutions set out in the
AGM Notice sent to shareholders on 6 October
2017, were duly passed. A copy of the full voting
totals will be published on the Company’s website at:
www.picton.co.uk
In accordance with Listing Rule 9.6.2 the following Special
Business resolutions were also passed:
|
|
MARKET
ACQUISITIONS: |
IT WAS
RESOLVED TO renew the authority of the Company, in 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 2018, 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. |
special resolution
–
PRE-EMPTION RIGHTS: |
IT WAS RESOLVED To empower the
Directors of the Company to dis-apply the right of shareholders to
receive a pre-emptive offer of new Ordinary Shares pursuant to
Article 5.12 of the Articles of 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 2018,
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:
Andrew Le Page
The Company Secretary
Northern Trust International Fund Administration Services
(Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Tel: 01481 745405
Fax: 01481 745085
Note to Editors
Picton is a property investment company established in
2005. It owns and actively manages a £661 million diversified
UK commercial portfolio, invested across 52 assets and with around
350 occupiers (as at 30 September
2017). Through an occupier-focused, opportunity-led approach
to asset management, Picton aims to be one of the consistently best
performing diversified UK property companies listed on the main
market of the London Stock Exchange.
For more information please visit: www.picton.co.uk