19 July 2018

Custodian REIT plc

 

("Custodian REIT" or "the Company")

 

Results of Annual General Meeting

 

Custodian REIT (LSE: CREI), the UK commercial real estate investment company, announces that at the Annual General Meeting of the Company held earlier today, resolutions 1 to 10 were passed as ordinary resolutions, and resolutions 11, 13 and 14 were passed as special resolutions.

 

Resolution 12, relating to the further disapplication of pre-emption rights, in certain circumstances, did not receive the required 75% of votes cast in favour, so was not passed. The resolution failed despite the fact that the votes cast against the resolution represented just 7.44% of the Company's total voting rights. The Board recognises that the authority sought was higher than the level recommended by best practice in accordance with the Pre-emption Group's Statement of Principles on Disapplying Pre-emption Rights. The Directors believe, however, that a larger authority is justified to continue the Company's programme of tap issuance to enable it to fund future acquisitions, and so will take steps to further engage with shareholders on this matter.

 

As at 19 July 2018, the total number of voting rights in the Company was 386,853,344.  All resolutions were voted on via a poll, and a summary of the results of the poll are set out below:

 

	Resolution	Votes for	% of votes cast	Votes against	% of votes cast	Votes withheld*
ORDINARY RESOLUTIONS
1	To receive and adopt the Company's report and accounts for the financial year ended 31 March 2018	54,300,249	99.19	443,358	0.81	13,670
2	To approve the directors' remuneration report for the period 31 March 2018	54,743,608	99.98	13,670	0.02	0
3	To re-elect Barry Gordon Gilbertson as a director	54,757,278	100.00	0	0.00	0
4	To re-elect David Ian Hunter as a director	52,294,208	95.50	2,463,069	4.50	0
5	To re-elect Ian Thomas Mattioli as a director	44,014,211	80.38	10,743,066	19.62	0
6	To re-elect Matthew Wadman John Thorne as a director	54,757,278	100.00	0	0.00	0
7	To re-appoint Deloitte LLP as auditor to the Company	54,139,147	98.87	618,130	1.13	0
8	To authorise the directors to agree and fix the auditor's remuneration	54,757,278	100.00	0	0.00	0
9	To grant the directors authority to allot ordinary shares in the capital of the Company	54,723,797	99.99	4,608	0.01	28,873
10	To receive and adopt the amended investment policy effective from 19 July 2018	54,728,405	100.00	0	0.00	28,873
SPECIAL RESOLUTIONS
11	To disapply statutory pre-emption rights on the allotment of ordinary shares in the capital of the Company	54,485,051	99.57	237,782	0.43	34,445
12	To further disapply the statutory pre-emption rights on the allotment of Ordinary Shares	28,768,203	52.57	25,954,630	47.43	34,445
13	To authorise the Company to make market purchases of ordinary shares of £0.01 each in the capital of the Company	54,731,898	99.99	4,608	0.01	20,775
14	That a general meeting, other than an annual general meeting, may be called on not less than 14 clear days' notice	53,865,198	98.41	871,305	1.59	20,775

 

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

 

The Company confirms that copies of all resolutions passed at the Annual General Meeting will be submitted to the National Storage Mechanism (NSM) at http://www.morningstar.co.uk/uk/NSM and will shortly be available for viewing.

 

- Ends -

 

 

 For further information, please contact:

 

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

 

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

 

Camarco
Ed Gascoigne-Pees	Tel: +44 (0)20 3757 4984
	www.camarco.co.uk

 

Notes to Editors

 

Custodian REIT plc is a UK real estate investment trust with a portfolio comprising properties predominantly let to institutional grade tenants throughout the UK, principally characterised by properties with individual values of less than £10m at acquisition.

 

The Company offers investors the opportunity to access a diversified portfolio of UK commercial real estate through a closed-ended fund.  By principally targeting sub £10m lot size regional properties, the Company intends to provide investors with an attractive level of income and the potential for capital growth, becoming the REIT of choice for private and institutional investors seeking high and stable dividends from well-diversified UK real estate. 

 

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

 

For more information visit www.custodianreit.com and www.custodiancapital.com.