Industrial Multi Property Trust PLC Results of EGM and Notice to Cancel Trading (9188E)

TIDMIMPT

RNS Number : 9188E

Industrial Multi Property Trust PLC

11 May 2017

For immediate release

Industrial Multi Property Trust PLC

Results of EGM and Notice to Cancel Trading

Industrial Multi Property Trust PLC (the "Company") announces that at the Extraordinary General Meeting of Shareholders held today, 11 May 2017, a total of 39 proxy votes were received for Resolutions 1, 2, and 3 and 42 proxy votes were received for Resolution 4. No shareholders attended the meeting in person and as all shareholders had appointed the Chairman as their proxy, the meeting was not quorate. The Directors present at the meeting are no longer shareholders as under the terms of the original Offer from Hansteen Holdings Plc, they gave irrevocable undertakings to accept the Offer. As a result, the meeting was dissolved in accordance with the Articles of Association.

Although a shareholder resolution is not required for the Board to authorise delisting from the Specialist Fund Segment of the London Stock Exchange, the Independent Directors had included Resolution 4 in order to give shareholders the opportunity to vote on the matter.

For the information of shareholders, proxy votes were cast as follows:

In relation to the Resolutions requisitioned by Alpha Real Trust Limited that:

1) The Company or its subsidiaries are prohibited from entering into any contract or commercial arrangement with Hansteen Holdings PLC or any of its associated companies which involves a potential conflict of interest without first obtaining the approval of non-Hansteen shareholders.

2) The Company disclose regularly to shareholders details of all matters that give rise to a conflict of with Hansteen or any of its associated companies within each reporting period and that the records of how such conflict was dealt with are available to shareholders for inspection.

3) The Company's Investment Objective be amended to include "No assets of the Company may be sold to Hansteen or any of its associated companies without independent scrutiny and the approval of non-Hansteen shareholders."

92.98%, 92.98% and 92.98% of the votes cast on the poll were Against Resolutions 1, 2 and 3 respectively.

In relation to the fourth Resolution put forward by the Board of Industrial Multi Property Trust that:

4) The decision of the Board to cancel trading of the Shares on the Specialist Fund Segment of the London Stock Exchange's Main Market be approved, confirmed and ratified.

93.85% of the votes cast on the poll were For Resolution 4.

Given the very significant support for Resolution 4, the Board has instructed that application be made to cancel trading of the Shares on the Specialist Fund Segment of the London Stock Exchange which is expected to take effect from 08.00am on 8 June 2017.

Details of the votes For and Against each resolution are detailed in the table below:

 
                                 Votes       %       Votes       %    Withheld 
 Requisitioned Resolutions        for               against 
----------------------------  ----------  ------  ----------  ------  --------- 
 Resolution 1                   224,762    7.02    2,973,882   92.98  1,599,399 
----------------------------  ----------  ------  ----------  ------  --------- 
 Resolution 2                   224,762    7.02    2,973,882   92.98  1,599,399 
----------------------------  ----------  ------  ----------  ------  --------- 
 Resolution 3                   224,762    7.02    2,973,882   92.98  1,599,399 
----------------------------  ----------  ------  ----------  ------  --------- 
 Proposed by the Board of 
  Industrial Multi Property 
  Trust 
----------------------------  ----------  ------  ----------  ------  --------- 
 Resolution 4                  3,004,392   93.85    196,858    6.15   1,596,793 
----------------------------  ----------  ------  ----------  ------  --------- 
 

Notes

1. Percentages are expressed as a proportion of the total votes cast (which does not include votes withheld).

2. A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'For' or 'Against' a resolution.

For further information, please contact:

Philip Scales

Director, Industrial Multi Property Trust PLC

[phone]

Robert Finlay

Financial Adviser and Broker, Stockdale Securities Limited

[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCSFWFLFFWSEDI

(END) Dow Jones Newswires

May 11, 2017 10:39 ET (14:39 GMT)