REG-Custodian Property Income REIT plc Custodian Property Income REIT plc: Results of General Meeting

Custodian Property Income ReitAnnouncement

21/11/2023 17:15

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  Custodian Property Income REIT plc (CREI)
  Custodian Property Income REIT plc: Results of General Meeting

  21-Nov-2023 / 17:00 GMT/BST

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                                                                21 November 2023

                                         

                        Custodian Property Income REIT plc

                                         

               (“Custodian Property Income REIT” or “the Company”)

                                         

                            Results of General Meeting

   

  Custodian Property Income REIT (LSE: CREI), which seeks to deliver an enhanced
  income return by  investing in  a diversified portfolio  of smaller,  regional
  properties with strong  income characteristics  across the UK,  is pleased  to
  announce that following a General Meeting  (“GM”) of the Company held  earlier
  today, the resolution was approved on a poll. 

   

  The Company’s Articles require that,  at every seventh Annual General  Meeting
  (“AGM”), a  Continuation  Resolution  be  proposed.   The  first  Continuation
  Resolution should have been proposed at the 2020 AGM but this was not  brought
  to the attention of the Board and, as a result, a Continuation Resolution  was
  not  proposed.   The  Company  has  been  advised  that,  as  this   oversight
  constituted a  breach of  the Articles,  the Company  should seek  Shareholder
  approval to  ratify  this.  Accordingly,  the  Resolution passed  at  this  GM
  released the Company  and its  directors from their  historical obligation  to
  propose a Continuation Vote at  the 2020 AGM and  ratified this breach of  the
  Articles.

   

  The  Continuation  Resolution  was  overlooked  during  a  period  of   strong
  performance by  the Company  relative to  its peers  and amidst  the  COVID-19
  pandemic.  Shareholders were not pressing for  such a resolution at that  time
  and the Board is not aware of  any desire for a Continuation Resolution to  be
  considered at this  stage either. As  a result,  the Board did  not propose  a
  replacement  Continuation  Resolution  at  this  GM.   The  next  Continuation
  Resolution will be proposed at the  fourteenth AGM of the Company expected  to
  be held in 2027.

  A summary of the results of the poll are set out below:

   

                                                                Votes
                              % of      Votes  % of Total votes  cast      Votes
    Resolution     Votes for votes    against votes        cast  as a withheld**
                              cast             cast              % of
                                                                 ISC*
  SPECIAL RESOLUTION
    Release the
    Company and
    its
    Directors
    from: its
    obligation
    to propose a
  1 Continuation 104,920,872 84.6% 19,093,457 15.4% 124,014,329 28.1% 19,264,461
    Resolution
    at the 2020
    AGM; and any
    associated
    liability.

     

   

  *Turnout, based on total  issued share capital (the  “ISC”) as at 21  November
  2023.

  **The percentage of votes cast for and against excludes withheld votes.

   

                                     - Ends -

   

  Further information:

   

  Further information  regarding  the Company  can  be found  at  the  Company's
  website  1 custodianreit.com or please contact:

   

  Custodian Capital Limited                                                     
  Richard Shepherd-Cross / Ed Moore / Ian               Tel: +44 (0)116 240 8740
  Mattioli MBE
                                                      2 www.custodiancapital.com

   

  Numis Securities Limited                             
  Hugh Jonathan / Nathan Brown Tel: +44 (0)20 7260 1000
                                    www.numis.com/funds

   

  FTI Consulting                                                                
  Richard Sunderland / Andrew Davis / Oliver            Tel: +44 (0)20 3727 1000
  Parsons
                                               3 custodianreit@fticonsulting.com

   

  Notes to Editors

   

  Custodian Property Income REIT plc is a UK real estate investment trust, which
  listed on the main market of the  London Stock Exchange on 26 March 2014.  Its
  portfolio  comprises  properties  predominantly  let  to  institutional  grade
  tenants on long leases throughout the  UK and is principally characterised  by
  smaller, regional, core/core-plus properties. 

   

  The Company offers investors the opportunity to access a diversified portfolio
  of UK  commercial real  estate through  a closed-ended  fund.  By  principally
  targeting smaller, regional, core/core-plus  properties, the Company seeks  to
  provide investors with an  attractive level of income  with the potential  for
  capital growth.

   

  Custodian Capital  Limited  is the  discretionary  investment manager  of  the
  Company.

   

  For more information visit  4 custodianreit.com and  5 custodiancapital.com.

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  Dissemination of a Regulatory Announcement that contains inside information in
  accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group.
  The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00BJFLFT45
   Category Code:  ROM
   TIDM:           CREI
   LEI Code:       2138001BOD1J5XK1CX76
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   286402
   EQS News ID:    1778771


    
   End of Announcement EQS News Service

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