Circle Property PLC Result of AGM (2042I)
10 Agosto 2021 - 09:48AM
UK Regulatory
TIDMCRC
RNS Number : 2042I
Circle Property PLC
10 August 2021
10 August 2021
Circle Property Plc
("Circle" or the "Company")
Result of Annual General Meeting
Circle Property Plc (AIM: CRC), which invests in, develops and
actively manages well-located regional office assets, is pleased to
announce that all resolutions put to shareholders at the Company's
Annual General Meeting held today were duly passed.
The total votes were cast as follows:
Resolution For % Against %
1 12,840,953 100.00 0 0.00
----------- ------- -------- -----
2 12,840,953 100.00 0 0.00
----------- ------- -------- -----
3 12,840,810 100.00 143 0.00
----------- ------- -------- -----
4 12,840,913 100.00 40 0.00
----------- ------- -------- -----
5 12,835,477 99.96 5,476 0.04
----------- ------- -------- -----
Following the passing of the resolutions, inter alia, a final
dividend of 4p per share will be paid on 13 August 2021 to
shareholders on the register on 16 July 2021.
+44 (0)20 7930
Circle Property Plc 8503
John Arnold, CEO
Edward Olins, COO
Cenkos Securities plc +44 (0)20 7397 8900
Katy Birkin
Mark Connelly
Radnor Capital
Joshua Cryer
Iain Daly +44 (0)20 3897 1830
Camarco +44 (0)20 3757 4980
Ginny Pulbrook
Toby Strong
About Circle Property Plc
Circle is amongst the best performing quoted UK real estate
companies having delivered 85% NAV growth and a 105% total return
(NAV growth and dividends) since IPO in 2016.
Circle focusses on acquiring assets in regional cities, many of
which have significant office supply constraints, and on office
assets with active management potential (refurbishment
opportunities, under-rented or vacant properties or short leases),
rather than just maximising initial rental yields.
Circle is not a Real Estate Investment Trust (REIT) and can
actively recycle proceeds from asset sales into its refurbishment
and redevelopment pipeline, as well as future investment
opportunities, therefore targeting a broader range of returns for
shareholders, which are primarily driven by NAV growth.
As well as already delivering substantial increases in NAV, the
Company's portfolio has significant reversionary potential with
current total estimated rental values of GBP10.92 million per
annum, compared to contracted rent of GBP8.70 million at 31 March
2021. The Company has a portfolio of 13 regional commercial
property investment and development assets in the UK valued at
GBP132.15 million as at 31 March 2021.
* valuation figures stated after deducting the value of Power
House, Davy Avenue, Milton Keynes (being GBP3.3 million as at 31
March 2020 and GBP3.25 million as at 30 September 2020) which was
sold by the Company for GBP3.55 million in March 2021.
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END
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