REG - Phoenix SpreeDeutsch - Result of AGM

Phoenix Spree DeutschlandAnnouncement

28/06/2023 15:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230628:nRSb2770Ea&default-theme=true

RNS Number : 2770E  Phoenix Spree Deutschland Limited  28 June 2023

28 June 2023

 

Phoenix Spree Deutschland Limited

(the "Company" or "PSDL")

 

AGM Results and Berlin Rent Index.

 

AGM Result

Phoenix Spree Deutschland Limited (LSE: PSDL.LN), the UK listed investment
company specialising in Berlin residential real estate, today announces that
all resolutions put to the annual general meeting ("AGM") held today,
Wednesday 28 June 2023, at the registered office of the Company were duly
approved by a large majority. Details of the proxy votes received in respect
of each resolution are attached to the foot of this announcement.

New Berlin Rent Index.

The Company welcomes the release by The Senate Department for Urban
Development, Building and Housing of a new transitional Berlin Rent Index
("the Index.")

Announced on 15 June 2023, the Index replaces the previous rent index 2021 and
applies until a new qualified rent index is published in the first half of
2024. On average, the Index represents an increase in rental values of 5.4%
versus 2021.

Where applicable, the Company will be notifying qualifying tenants of any
adjustments to future monthly rental payments. Although the Index is not the
primary driver of PSD's rent growth, it is anticipated that it will be
accretive to rental income in the second half of the financial year.

Interim Portfolio valuation and business update.

As in previous years, the Company expects to announce its interim portfolio
valuation and business update in early August.

AGM resolutions and results.

Total votes of 50,684,239 were received. Details of the votes received in
respect of each resolution are noted as follows:

 Summary Resolutions*                                                             For / Discretionary(1)  %      Against     %     Withheld
 1.   Ordinary Resolution: THAT the audited annual report and financial           50,684,239              100    0           0     0
 statements of the Company for the year ended 31 December 2022, together with
 the report of the directors and report of the auditors be received and
 adopted.
 2.  Ordinary Resolution: THAT the Directors' remuneration report for the year    50,654,138              99.95  26,426      0.05  3,675
 ended 31 December 2022 be approved.
 3.  Ordinary Resolution: THAT the Directors' remuneration policy for the year    50,080,135              98.82  597,467     1.18  6,637
 ended 31 December 2022 be approved.
 4.    Ordinary Resolution: THAT Robert Hingley be re-elected as a director       46,238,670              91.23  4,445,569   8.77  0
 of the Company.
 5. Ordinary Resolution: THAT Jonathan Thompson be re-elected as a director of    47,412,813              93.55  3,271,426   6.45  0
 the Company.
 6.    Ordinary Resolution: THAT Antonia Burgess be re-elected as a director      46,876,381              92.49  3,807,858   7.51  0
 of the Company.
 7.    Ordinary Resolution: THAT Isabel Robins be re-elected as a director        46,876,381              92.49  3,807,858   7.51  0
 of the Company.
 8.   Ordinary Resolution: THAT Steven Wilderspin be elected as a director of     47,412,803              93.55  3,271,436   6.45  0
 the Company.
 9.    Ordinary Resolution: THAT RSM UK Audit LLP be re-appointed as              50,680,564              99.99  3,675       0.01  0
 auditors to the Company.
 10. Ordinary Resolution: THAT the Audit Committee be authorised to determine     50,684,239              100    0           0     0
 the remuneration of RSM UK Audit LLP.
 11.  Ordinary Resolution: THAT the Company be authorised to enter into the       50,506,933              99.95  26,416      0.05  150,890
 Proposal set out in the circular published by the Company on 5 June 2023.

 12.  Special Resolution: THAT the Company be generally and unconditionally       50,224,924              99.09  459,315     0.91  0
 authorised to make market purchases of and to cancel or hold in treasury up to
 13,764,921 Ordinary Shares.
 13.  Special Resolution: THAT the Directors be authorised to allot and issue     50,624,403              99.88  59,836      0.12  0
 up to 10,075,141 Ordinary Shares, as if pre-emption rights in the articles did
 not apply.

 

(1)Any proxy appointments which gave discretion to the Chair of the AGM, or a
third party were voted for the resolution.

*The full text of the resolutions may be found in the notice of the AGM, a
copy of which is available on both the Company's website www.phoenixspree.com
and on the National Storage Mechanism
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

In accordance with Listing Rule 9.6.2, the full text of the special
resolutions passed at the AGM has been submitted to the National Storage
Mechanism and will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

Legal Entity Identifier: 213800OR6IIJPG98AG39

For Further Information, Please Contact:

Phoenix Spree Deutschland Limited
                        +44 (0) 20 3937 8760

Stuart Young

 

Numis Securities Limited (Corporate
Broker)
+44 (0) 20 7260 1000

David Benda

 

Teneo (Financial PR)
                                           +44 (0) 20
7353 4200

Olivia Peters

Jo Blackshaw

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RAGSEAFLAEDSEDM