Picton Property
Income Limited
(“Picton” or the
“Company”)
LEI Number: 213800RYE59K9CKR4497
13 september
2018
RESULT OF ANNUAL
GENERAL MEETING
At the Annual General Meeting of the Company held on
13 September 2018, all Ordinary
Resolutions set out in the Annual General Meeting Notice sent to
Shareholders dated 6 August 2018 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
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 2019, 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.
DISAPPLICATION OF PRE-EMPTION
RIGHTS
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
27,002,683 Ordinary Shares (being equal to 5 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 2019, 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.
DISAPPLICATION OF PRE-EMPTION
RIGHTS
That conditional and in addition to extraordinary resolution 10
above having been passed, 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: (i)
limited to the issue of up to 27,002,683 Ordinary Shares (being
equal to 5 per cent of the Ordinary Shares in issue as at the date
of this Notice); and (ii) used only for the purposes of financing
(or refinancing, if the authority is to be used within six months
after the original transaction) a transaction which the Directors
determine to be an acquisition or other capital investment of a
kind contemplated by the Statement of Principles on Disapplying
Pre-Emption Rights most recently published by the Pre-Emption Group
prior to 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 2019, 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:
Northern Trust International Fund Administration Services
(Guernsey) Limited
The Company Secretary
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Tel: 01481 745001
Note to Editors
Picton is a property investment company established in 2005. It
owns and actively manages a £678 million diversified UK commercial
property portfolio, invested across 49 assets and with around 360
occupiers (as at 30 June 2018).
Through an occupier focused, opportunity led approach to asset
management, Picton aims to be one of the consistently best
performing diversified UK focused property companies listed on the
main market of the London Stock Exchange.
For more information please visit: www.picton.co.uk
END