REG - Circle Property PLC - Results of Extraordinary General Meeting

Circle PropertyAnnouncement

22/03/2023 16:15

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RNS Number : 9078T  Circle Property PLC  22 March 2023

22 March 2023

Circle Property Plc

 

("Circle" or the "Company")

 

Results of Extraordinary General Meeting

 

Circle Property plc (AIM: CRC), is pleased to announce that all three of the
resolutions ("Resolutions") put to shareholders at the Company's Extraordinary
General Meeting held today were duly passed.

 

All the Resolutions were proposed as special resolutions and all votes were by
poll vote where proxies were cast.

 

The votes received in respect of each of the Resolutions were as follows:

 

 Resolution                                                                     For         %      Against  %

 1 - To approve the disposal of Concorde Park, Maidenhead ("Concorde Park")     16,317,494  100    40       0.00
 (the "Disposal")

 2 - To approve the future (but not yet agreed) sale of 300 Pavilion Drive,     16,312,680  99.97  4,854    0.03
 Northampton ("300 Pavilion Drive")

 3 - Conditional upon Resolution 1 above, to approve the proposed cancellation  16,298,814  99.89  18,720   0.11
 of the Company's Ordinary Shares from trading on AIM ("Cancellation")

 

Following the passing of the Resolutions, the Company expects the Disposal and
the disposal of Victory House, 400 Pavilion Drive, Northampton ("Victory
House") to complete by the end of March 2023, following which the Company
expects to make a second Return of Capital in April 2023 through a B Share
Issue.

 

As previously announced, given that the Board wishes to complete the Returns
of Capital whilst the Ordinary Shares remain traded on AIM (although noting
that this is dependent on the timing of any sale of 300 Pavilion Drive and the
Board keeping this under review noting the costs associated with maintaining a
quotation on AIM), the definitive timetable in relation to Cancellation is
dependent on timing of the receipt of completion monies from disposals and the
timing of the proposed Returns of Capital to Shareholders. Assuming completion
of the Disposal, the disposal of Victory House and Returns of Capital in March
and April 2023, it is expected that Cancellation will occur in May 2023.
Further announcements will be made, as appropriate.

 

Enquiries:

 

 Circle Property Plc                     +44 (0)20 7930 8503
 John Arnold, CEO

 Edward Olins, COO

 Cenkos Securities plc                  +44 (0)20 7397 8900
 Katy Birkin

 George Lawson

 Radnor Capital                         +44 (0)20 3897 1830

 Joshua Cryer

 Iain Daly

 Camarco                                +44 (0)20 3757 4980
 Ginny Pulbrook

 Toby Strong

 

 

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