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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(END) Dow Jones Newswires

August 10, 2021 10:48 ET (14:48 GMT)

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