Custodian Property Income REIT plc: Results of Annual General Meeting
Custodian Property Income REIT plc (CREI)
Custodian Property Income REIT plc: Results of Annual General Meeting
08-Aug-2023 / 14:30 GMT/BST
8 August 2023
Custodian Property Income REIT plc
(“Custodian Property Income REIT” or “the Company”)
Results of Annual 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, pleased to announce that following the Annual General Meeting (“AGM”) of the Company held earlier today, all resolutions were approved on a poll. 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 2023
102,235,922
100
0
0
252,316
2
To approve the directors’ remuneration report for the year ended 31 March 2023
100,292,222
97.87
2,179,931
2.13
16,085
3
To elect David MacLellan as a director
100,663,000
98.23
1,813,952
1.77
11,286
4
To re-elect Hazel Adam as a director
97,700,747
95.34
4,776,205
4.66
11,286
5
To re-elect Malcolm Cooper as a director
97,683,960
95.32
4,792,992
4.68
11,286
6
To re-elect Chris Ireland as a director
97,683,960
95.32
4,792,992
4.68
11,286
7
To re-elect Ian Mattioli as a director
59,803,871
58.36
42,673,080
41.64
11,287
8
To re-elect Elizabeth McMeikan as a director
78,164,545
76.28
24,312,407
23.72
11,286
9
To re-appoint Deloitte LLP as auditor to the Company
102,464,102
99.99
12,850
0.01
11,286
10
To authorise the directors to agree and fix the auditor’s remuneration
102,464,102
99.99
12,850
0.01
11,286
11
To grant the directors’ authority to allot ordinary shares in the capital of the Company
98,082,079
95.71
4,391,787
4.29
14,372
12
To amend the Company’s Investment Policy
102,459,362
99.99
14,504
0.01
14,372
13
To disapply statutory pre-emption rights on the allotment of ordinary shares in the capital of the Company
101,363,897
98.91
1,113,055
1.09
11,286
14
To further disapply the statutory pre-emption rights on the allotment of Ordinary Shares
100,063,608
97.64
2,413,344
2.36
11,286
15
To authorise the Company to make market purchases of ordinary shares of £0.01 each in the capital of the Company
102,411,250
99.99
2,306
0.01
74,682
16
That a general meeting, other than an annual general meeting, may be called on not less than 14 clear days' notice
95,949,030
93.63
6,527,922
6.37
11,286
*NB: The percentage of votes cast for and against excludes withheld votes.
The votes received against Resolutions 7 and 8 to re-elect Ian Mattioli and Elizabeth McMeikan as Directors of the Company above comprised just 9.8% and 5.8% respectively of total shareholders. The Company complies with the Association of Investment Companies’ Corporate Governance Code regarding Board diversity and independence and the Institutional Shareholder Services proxy voting guidance supported both resolutions. Where possible the Board, assisted by the Company’s broker, will engage with shareholders to seek feedback.
Ian Mattioli is the founder director of Custodian Property Income REIT having instigated the development of Mattioli Woods plc’s investment proposition, including the syndicated property initiative that developed into the seed portfolio for the launch of the Company in 2014. Ian is a non-independent Director of the Company due to his roles as CEO of Mattioli Woods plc and Chair of Custodian Capital Limited, the Company’s discretionary investment manager, and is viewed by the Board as representative of Mattioli Woods plc’s client shareholders which represent approximately 68% of the Company’s shareholder register. Ian and his family own 6.1m shares in the Company representing c. 1.4%.
The Company confirms that copies of all resolutions passed at the Annual General Meeting will be available for viewing on the National Storage Mechanism shortly.
- Ends -
Further information:
Further information regarding the Company can be found at the Company's website custodianreit.com or please contact:
Custodian Capital Limited
Richard Shepherd-Cross / Ed Moore / Ian Mattioli MBE
Tel: +44 (0)116 240 8740
Numis Securities Limited
Hugh Jonathan / Nathan Brown
Tel: +44 (0)20 7260 1000
www.numis.com/funds
FTI Consulting
Richard Sunderland / Andrew Davis / Oliver Parsons
Tel: +44 (0)20 3727 1000
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 custodianreit.com and custodiancapital.com.
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.
ISIN: GB00BJFLFT45 Category Code: RAG 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.: 263244 EQS News ID: 1698755
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