Yew Grove REIT PLC Result of EGM (4049O)
29 Mayo 2020 - 07:09AM
UK Regulatory
TIDMYEW
RNS Number : 4049O
Yew Grove REIT PLC
29 May 2020
Yew Grove REIT plc
(the "Company" or "Yew Grove")
Result of EGM
Yew Grove REIT plc (LSE:YEW, Euronext:YEW), which owns a
diversified portfolio of Irish commercial property assets, is
pleased to announce that at the Extraordinary General Meeting (the
"EGM") held earlier today, the Resolutions required to authorise
the Directors to allot and issue up to a maximum of 100 million new
Ordinary Shares pursuant to a new Share Issuance Programme and
disapply pre-emption rights in respect of the allotment and issue
of such new Ordinary Shares, were duly passed by shareholders. The
number of votes cast for and against each of the Resolutions put
before the EGM and the number of votes withheld were as follows.
The total number of Ordinary Shares in issue is 111,572,210.
Resolution For Against Total votes Votes
cast withheld
Total votes % Total votes %
------------ ------------ --------
To grant authority
to the Directors
to allot and issue
up to a maximum
of 100 million
New Shares pursuant
to the Share Issuance
Programme 20,188,071 78.13 5,650,245 21.87 25,838,316 0
------------ -------- ------------ -------- ------------ ----------
To disapply pre-emption
rights in respect
of the allotment
and issue of such
number of New Shares 20,188,071 78.13 5,650,245 21.87 25,838,316 0
------------ -------- ------------ -------- ------------ ----------
The Board notes that while both of the Resolutions put before
the EGM were passed, a significant minority of the votes which were
cast, 21.87%, were voted against each Resolution. The authorities
granted by these Resolutions are in line with the authorities that
were granted by shareholders at the extraordinary general meeting
of the Company held in July 2019 and the purpose of the authorities
is to allow the Company to continue to take advantage of
opportunities within its target market.
The Board had significant engagement with shareholders earlier
this year following the announcement of the Company's 2019 results
and it remains committed to continuing an open and transparent
dialogue with shareholders. In accordance with the UK Corporate
Governance Code 2018, the Board will seek to engage with
shareholders on their reasons for voting against these Resolutions.
The Company will then publish an update on this engagement within
six months of the EGM.
Notes
1. Any proxy appointments which gave discretion to the Chairman
have been included in the "Total votes for" total.
2. A "Vote Withheld" is not a valid vote in Irish law and was
not counted in the calculation of the proportion of the votes "For"
or "Against" a resolution.
For further information contact:
Yew Grove REIT plc +353 1 485 3950
Jonathan Laredo, Chief Executive Officer
----------------------------------
Charles Peach, Chief Financial Officer
----------------------------------
Michael Gibbons, Chief Investment Officer
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Goodbody Stockbrokers UC +353 1 667 0400
----------------------------------
Joint Broker & Euronext Growth Advisor
----------------------------------
David Kearney, John Flynn, Edel O'Reilly,
Ronan Bransfield
----------------------------------
Liberum Capital Limited
----------------------------------
Joint Broker & Nomad +44 20 3100 2000
----------------------------------
Richard Crawley, Jamie Richards, Jonathan
Wilkes-Green
----------------------------------
IFC Advisory +44 203 934 6630
----------------------------------
Financial PR yewgrovereit@investor-focus.co.uk
----------------------------------
Tim Metcalfe, Graham Herring
----------------------------------
Forward-looking Statements
Certain information contained in this announcement may
constitute forward looking information. This information relates to
future events or occurrences or the Company's future performance.
All information other than information of historical fact is
forward looking information. The use of any of the words
"anticipate", "plan", "continue", "estimate", "expect", "may",
"will", "project", "should", "believe", "predict" and "potential"
and similar expressions are intended to identify forward looking
information. This information involves known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking information. No assurance can be given that this
information will prove to be correct and such forward looking
information included in this announcement should not be relied
upon. Forward-looking information speaks only as of the date of
this announcement. The forward-looking information included in this
announcement is expressly qualified by this cautionary statement
and is made as of the date of this announcement. The Company and
its group does not undertake any obligation to publicly update or
revise any forward-looking information except as required by
applicable securities laws.
Notes to editors
Yew Grove REIT plc, quoted on the London Stock Exchange's AIM
market and on the Euronext Growth Market in Dublin, is an Irish
commercial real estate company invested in a diversified portfolio
of Irish commercial property. Yew Grove has a particular focus on
well-tenanted commercial real estate assets comprising of office
and industrial assets outside of Dublin's Central Business
District.
Yew Grove's highly experienced team has a proven track record in
commercial property investment and asset management in Ireland and
internationally and is focused on delivering results. Its
investment approach is strategic, not speculative, principally on
assets that are let, pre-let or to be let after refurbishment.
Shareholders are provided with stable, long-term income from a
diverse portfolio of commercial property comprising well-tenanted
real estate in strategic centres let to Irish government entities
and other state bodies, IDA Ireland supported and other FDI
companies, and larger corporates.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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