Secure Income REIT PLC Result of AGM (7436O)
21 May 2018 - 9:29PM
UK Regulatory
TIDMSIR
RNS Number : 7436O
Secure Income REIT PLC
21 May 2018
21 May 2018
Secure Income REIT Plc
(the "Company")
Result of Annual General Meeting
The Board of Secure Income REIT Plc (AIM: SIR), the specialist
long term income REIT, confirms that, at the Annual General Meeting
of the company held on 21 May 2018, all resolutions proposed were
duly passed.
The results of voting for each resolution were:
For % For Against % Against Withheld*
Ordinary Resolutions:
------------ ------- ----------- ---------- ----------
1. Approval of 2017
report and accounts 231,267,867 98.79 2,832,184 1.21 -
------------ ------- ----------- ---------- ----------
2. Reappointment
of Mike Brown 231,233,360 98.78 2,866,691 1.22 -
------------ ------- ----------- ---------- ----------
3. Reappointment
of Jonathan Lane 234,065,544 99.99 34,507 0.01 -
------------ ------- ----------- ---------- ----------
4. Reappointment
of Ian Marcus 234,100,051 100.00 - - -
------------ ------- ----------- ---------- ----------
5. Reappointment
of BDO LLP as auditors 231,267,867 98.79 2,832,184 1.21 -
------------ ------- ----------- ---------- ----------
6. Directors' authority
to fix auditors'
fees 234,100,051 100.00 - - -
------------ ------- ----------- ---------- ----------
Special Resolutions:
------------ ------- ----------- ---------- ----------
7. Authorisation
to make market purchases 234,100,051 100.00 - - -
------------ ------- ----------- ---------- ----------
8. Authorisation
to make non pre-emptive
share issues 217,753,781 93.02 16,337,700 6.98 8,570
------------ ------- ----------- ---------- ----------
* Votes withheld are not included within the totals of votes
cast.
Total votes cast for each resolution amounted to 72.8% of shares
in issue.
For further information, please contact:
Secure Income REIT Plc +44 20 7647 7647
Sandy Gumm enquiries@SecureIncomeREIT.co.uk
Stifel Nicolaus Europe Limited
(Nominated Adviser) +44 20 7710 7600
David Arch stifelsecureincome@stifel.com
Tom Yeadon
Newgate (PR Adviser) +44 20 7680 6550
James Benjamin sir@newgatecomms.com
Anna Geffert
Patrick Hanrahan
Leena Patel
About Secure Income REIT Plc
Secure Income REIT specialises in generating long term,
inflation protected, secure income from real estate investments.
Its investment strategy is designed to satisfy investors' growing
requirements for high quality, safe, inflation protected income
flows.
At 31 December 2017, the Company's investment property portfolio
was valued at GBP1.77 billion, producing GBP95.7 million per annum
of rental income from long term leases with a weighted average
unexpired term to expiry of over 22 years. All rental income is
subject to fixed or RPI upwards only rent reviews.
On 9 March 2018, the Company exchanged contracts to acquire two
off-market portfolios at a total cost of GBP436 million. The
acquisitions include Manchester Arena, the UK's largest indoor
entertainment arena, 76 Travelodge hotels and The Brewery on
Chiswell Street, the largest catered event space in the City of
London. To finance the acquisitions, the Company successfully
raised gross proceeds of GBP315.5 million in a significantly
oversubscribed Placing of 86,438,000 Ordinary Shares, completing
the Placing over a week earlier than planned following strong
investor demand. New secured non-recourse debt facilities of c.
GBP128.7 million at c.30% loan to cost have also been agreed.
Following completion of the Acquisitions, the Enlarged Group
will own approximately GBP2.2 billion of investment property with a
weighted average unexpired lease term of some 22 years. The
Acquisitions further diversify the Group's resilient portfolio of
Key Operating Assets let to strong businesses in defensive sectors
with high barriers to entry. The RPI linked rent reviews and fixed
rental uplifts combine with fixed cost debt to drive healthy
dividend growth, creating attractive and predictable returns.
The Company is advised by Prestbury Investments LLP which was
adviser to Max Property Group plc until August 2014, when all of
the assets of Max Property Group plc were sold to Blackstone Group.
Prestbury Investments LLP is a partnership of real estate and
finance professionals including Nick Leslau, Mike Brown, Tim Evans,
Ben Walford and Sandy Gumm.
The Company's Board is chaired by Martin Moore and also
comprises three further independent Directors in Leslie Ferrar,
Jonathan Lane and Ian Marcus, as well as three members of the
Prestbury Team in Nick Leslau, Mike Brown and Sandy Gumm.
The Company is a UK REIT which floated on the AIM market of the
London Stock Exchange in June 2014.
The Company's LEI is: 213800M1VI451RU17H40
Further information on Secure Income REIT is available at:
www.SecureIncomeREIT.co.uk
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END
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