TIDMPRSR
RNS Number : 0462Q
PRS REIT PLC (The)
23 February 2021
23 February 2021
PRSR.L
The PRS REIT plc
("the Company" or "the PRS REIT")
Result of General Meeting and Transfer of Ordinary Shares
to the Premium Listing Segment of the Official List
The PRS REIT, the closed-ended real estate investment trust that
invests in high-quality, new build, family homes in the private
rented sector ("PRS"), is pleased to announce that the Ordinary
Resolution to adopt a revised investment objective and policy, as
set out in the Notice of General Meeting of the Company dated 1
February 2021, was passed without amendment by the requisite
majority at a General Meeting of the Company's shareholders held
earlier today.
Ordinary Resolution
That the proposed revised investment objective and policy set
out in the Notice of General Meeting of the Company dated 1
February 2021 be adopted as the investment objective and policy of
the Company to the exclusion of all previous investment objectives
and policies of the Company.
Votes cast over which the Chairman had been appointed as proxy
were as follows:
Resolution Votes in Percentage Votes Percentage Withheld* Total votes
favour in favour against against cast (excluding
withheld)
1 - Ordinary
Resolution to
adopt the revised
investment objective
and policy 349,656,991 99.62 1,344,797 0.38 10,900,446 351,001,788
----------- ---------- --------- ---------- ---------- ----------------
*A vote withheld is not a vote in law and is therefore not
counted towards the proportion of votes "for" or "against" the
Resolution.
Further to the announcement of 11 January 2021, the PRS REIT is
also pleased to announce that applications will shortly be made to
the Financial Conduct Authority ("FCA") for its entire issued share
capital, being 495,277,294 ordinary shares ("Ordinary Shares"), to
be admitted to the Premium listing segment of the Official List of
the FCA ("Official List") and to the London Stock Exchange plc for
its Ordinary Shares to be admitted to trading on the Premium
segment of the Main Market ("Admission"). Admission is expected to
become effective at 8:00am on 2 March 2021, or shortly
thereafter.
The Board believes that the Company's transfer from the
Specialist Fund Segment to the Premium segment of the Main Market
of the London Stock Exchange and the admission to the Premium
listing segment of the Official List ("Migration") will, inter
alia, broaden the Company's share register and facilitate its
eligibility for inclusion in FTSE's EPRA and UK Index Series.
N+1 Singer is acting as Sponsor for the Company in connection
with the Migration.
For further information, please contact:
The PRS REIT plc Tel: 020 3178 6378 (c/o
Steve Smith, Non-executive Chairman KTZ Communications)
Sigma PRS Management Limited Tel: 0333 999 9926
Graham Barnet, Mike McGill
KTZ Communications Tel: 020 3178 6378
Katie Tzouliadis, Dan Mahoney
N+1 Singer Tel: 020 7496 3000
James Maxwell, James Moat, Sebastian Burke
Panmure Gordon (UK) Limited Tel: 020 7886 2500
Chloe Ponsonby (Corporate Broking), Alex Collins
(Corporate Finance)
G10 Capital Limited (part of the IQEQ Group Tel: 020 3745 2826
as AIFM)
Paul Turner
NOTES TO EDITORS
About The PRS REIT plc
www.theprsreit.com
The PRS REIT plc is a closed-ended real estate investment trust
established to invest in the Private Rented Sector and to provide
shareholders with an attractive level of income together with the
potential for capital and income growth. The Company is investing
GBP0.9bn in a portfolio of high quality homes for private rental
across the regions, having raised a total of GBP500m (gross)
through its Initial Public Offering, on 31 May 2017, and a
subsequent placing in February 2018. Both fundraisings were
supported by the UK Government's Homes England with direct
investments.
LEI: 21380037Q91HU97WZX58
About Sigma Capital Group plc
www.sigmacapital.co.uk
Sigma Capital Group plc ("Sigma") is a PRS, residential
development, and urban regeneration specialist, with offices in
Edinburgh, Manchester and London. Sigma's principal focus is on the
delivery of large scale housing schemes for the private rented
sector. The Company has a well-established track record in
assisting with property related regeneration projects in the public
sector, acting as a bridge between the public and private
sectors.
Sigma has created an unrivalled PRS platform, which sources
sites and brings together construction resource to develop them,
enabling Sigma to deliver an integrated solution to partners. As
well as sourcing sites and managing all stages of the planning and
development process, Sigma also manages the rental of completed
homes through its award-winning rental brand, 'Simple Life'.
The Company's subsidiary, Sigma PRS Management Limited, is
Investment Adviser to The PRS REIT plc. In September 2020, the
Company launched a joint venture with EQT Real Estate, the real
estate platform of global investment firm EQT to establish a GBP1bn
portfolio of high quality, new-build homes for private rental in
Greater London.
About Sigma PRS Management Limited
Sigma PRS Management Limited is a wholly-owned subsidiary of
AIM-quoted Sigma Capital Group plc and is Investment Adviser to The
PRS REIT plc. It sources investments and operationally manages the
assets of The PRS REIT plc and advises the Alternative Investment
Fund Manager ("AIFM") and The PRS REIT plc on a day-to-day basis in
accordance with The PRS REIT plc's Investment Policy. The
Investment Manager is G10 Capital Limited. Sigma PRS Management Ltd
is an appointed representative of G10 Capital Limited, which is
authorised and regulated by the Financial Conduct Authority
(FRN:648953).
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