REG-abrdn Property Income Trust Limited: Result of Annual General Meeting

abrdn Property Income TrustAnnouncement

14/08/2024 07:45

 

ABRDN Property Income Trust Limited

(an authorised closed-ended investment company incorporated in Guernsey with
registration number 41352)

LEI Number: 549300HHFBWZRKC7RW84

 

(The "Company")

 

14 AUGUST 2024

 

RESULT OF ANNUAL GENERAL MEETING

 

At the Annual General Meeting of the Company held on 13 August 2024, all
Ordinary and Special Resolutions set out in the Notice of Annual General
Meeting contained in the Annual Report to Shareholders published on 13  May
2024 were duly passed.

 

Details of the  voting results which should be read alongside the Notice are
noted below:

 

 Ordinary Resolution  For          Against    Abstain  
 1                    102,841,515  1,826,433  26,822   
 2                    103,406,165  1,072,291  216,314  
 3                    104,529,171  144,649    20,950   
 4                    103,865,639  757,573    71,558   
 5                    103,462,577  519,481    712,712  
 6                    99,316,061   4,868,144  510,565  
 7                    99,385,550   4,798,655  510,565  
 8                    98,643,962   5,492,243  558,565  
 9                    98,665,218   5,512,060  517,492  
 10                   99,292,000   4,824,105  578,665  
 Special Resolution   For          Against    Abstain  
 11                   102,648,684  2,012,573  33,513   
 12                   99,252,484   5,249,381  192,905  

 

Note - A vote withheld is not a vote in law and has not been counted in the
votes for and against a resolution. 

 

The Special Resolutions were as follows:

 

Special Resolution 11

To authorise the Company, in accordance with The Companies (Guernsey) Law,
2008, as amended to make market acquisitions of its own shares of 1 pence each
(either for retention as treasury shares for future resale or transfer or
cancellation) provided that:

 

a. the maximum number of ordinary shares hereby authorised to be purchased
shall be 14.99 percent 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 1 pence;

 

c. the maximum price (exclusive of expenses) which may be paid for an ordinary
share shall be the higher of (i) 105 percent 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
acquisition and (ii) the higher of the last independent trade and the highest
current bid on the trading venue on which the purchase is carried out; 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 after the passing of this resolution or on the expiry of 15 months
from the passing of this resolution, whichever is the earlier, save that the
Company may, prior to such expiry, enter into a contract to acquire ordinary
shares under such authority and may make an acquisition of ordinary shares
pursuant to any such contract.

 

Special Resolution 12

That the Directors of the Company be and they are hereby generally empowered,
to allot ordinary shares in the Company or grant rights to subscribe for, or
to convert securities into, ordinary shares of the Company ("equity
securities") for cash, including by way of a sale of ordinary shares held by
the Company as treasury shares, as if any pre-emption rights in relation to
the issue of shares as set out in the listing rules made by the Financial
Conduct Authority under Part VI of the Financial Services and Markets Act
2000, as amended, did not apply to any such allotment of equity securities,
provided that this power:

 

a. expires at the conclusion of the next Annual General Meeting of the Company
after the passing of this resolution or on the expiry of 15 months from the
passing of this resolution, whichever is the earlier, save that the Company
may, before such expiry, make an offer or agreement which would or might
require equity securities to be allotted after such expiry and the Directors
may allot equity securities in pursuance of any such offer or agreement as if
the power conferred hereby had not expired; and

 

b. shall be limited to the allotment of equity securities up to an aggregate
nominal value of £381,219 being approximately 10 percent of the nominal value
of the issued share capital of the Company, as at 25 April 2024.

 

 

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

 

END

 



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