Picton Prop Inc Ltd Result of AGM
14 Noviembre 2019 - 07:40AM
UK Regulatory
TIDMPCTN
Picton Property Income Limited
("Picton" or the "Company")
LEI Number: 213800RYE59K9CKR4497 -
(The "Company")
14 November 2019
RESULT OF ANNUAL GENERAL MEETING
At the Annual General Meeting of the Company held on 14 November 2019, all
Ordinary Resolutions set out in the Annual General Meeting Notice sent to
Shareholders dated 10 October 2019 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 2020, 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 for cash pursuant to
Article 5.11 of the Articles of Incorporation provided that this power shall be
limited to the issue of up to 27,380,279 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 2020, 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 12 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 for cash
pursuant to Article 5.11 of the Articles of Incorporation provided that this
power shall be: (i) limited to the issue of up to 27,380,279 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 2020, 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.
Enquiries:
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, established in 2005, is a UK REIT. It owns and actively manages a GBP693
million diversified UK commercial property portfolio, invested across 49 assets
and with around 350 occupiers (as at 30 September 2019). 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
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