Picton Prop Inc Ltd Result of AGM

 
TIDMPCTN 
 
Picton Property Income Limited (the" Company") 
 
                       Result of Annual General Meeting 
                               13 November 2015 
 
 
 
At the Annual General Meeting ("AGM") held on 12 November 2015, all Resolutions 
set out in the AGM Notice sent to shareholders on 7 October 2015, were duly 
passed.  A copy of the full voting totals will be published on the Company's 
website at: www.picton.co.uk 
 
 
The following Special Business resolutions were also passed: 
 
MARKET            IT WAS RESOLVED TO renew the authority of the Company, in 
ACQUISITIONS:     accordance with Section 315 of The Companies (Guernsey) Law, 2008 
                  (as amended) ("the Law"), to make market acquisitions (within the 
                  meaning of Section 316 of the Law) of the Ordinary Shares of No Par 
                  Value in the share capital of the Company ("the Ordinary Shares") 
                  provided that:- 
                  (a) the maximum number of Ordinary Shares hereby authorised to be 
                  acquired shall be 14.99 per cent of the issued Ordinary Shares on 
                  the date on which this resolution is passed; 
                  (b) the minimum price which may be paid for an Ordinary Share shall 
                  be 1p; 
                  (c) the maximum price (exclusive of expenses) which may be paid for 
                  an Ordinary Share shall be an amount equal to the higher of 105 per 
                  cent of the average of the middle market quotations (as derived 
                  from the Daily Official List) for the Ordinary Shares for the five 
                  business days immediately preceding the date of purchase or the 
                  higher of such price of the last independent trade and the highest 
                  current independent bid at the time of purchase; and 
                  (d) unless previously varied, revoked or renewed, the authority 
                  hereby conferred shall expire at the conclusion of the Annual 
                  General Meeting of the Company to be held in 2016, save that the 
                  Company may, prior to such expiry, enter into a contract to 
                  purchase Ordinary Shares under such authority and may make a 
                  purchase of Ordinary Shares pursuant to any such contract. 
 
EXTRA-ORDINARY    IT WAS RESOLVED TO empower the Directors of the Company to disapply 
RESOLUTION -      the right of shareholders to receive a pre-emptive offer of new 
PRE-EMPTION       Ordinary Shares pursuant to Article 4.17 of the Articles of 
RIGHTS:           Incorporation provided that this power shall be limited to the 
                  issue of up to 54,005,366 Ordinary Shares (being equal to 10 per 
                  cent of the Ordinary Shares in issue as at the date of this Notice) 
                  and shall expire (unless previously renewed, varied or revoked by 
                  the Company in a general meeting) at the end of the Annual General 
                  Meeting of the Company held in 2016, or, if earlier, the date 
                  falling 15 months after the date of this Resolution, but during 
                  this period the Company may make offers, and enter into agreements, 
                  which would, or might, require Ordinary Shares to be issued (and 
                  treasury shares to be sold) after the power given to the Board 
                  pursuant to this Resolution ends and the Board may issue Ordinary 
                  Shares (and sell treasury shares) under any such offer or agreement 
                  as if the power had not ended. 
 
 
 
For further information: 
 
David Sauvarin 
The Company Secretary 
Northern Trust International Fund Administration Services (Guernsey) Limited 
Trafalgar Court 
Les Banques 
St Peter Port 
Guernsey 
GY1 3QL 
 
Tel:      [phone] 
Fax:     [phone] 
 
 
Note to Editors 
Picton Property Income Limited ('Picton') is an income focused, property 
investment company listed on the London Stock Exchange. Picton can invest both 
directly and indirectly in commercial property across the United Kingdom. 
 
With Net Assets of GBP393.1 million at 30 September 2015, the Company's objective 
is to provide shareholders with an attractive level of income, together with 
the potential for capital growth by investing in the principal commercial 
property sectors.  www.picton.co.uk 
 
 
 
 
 
END 
 

(END) Dow Jones Newswires

November 13, 2015 12:26 ET (17:26 GMT)