Tritax Big Box REIT plc Result of Extraordinary General Meeting (3592S)

TIDMBBOX

RNS Number : 3592S

Tritax Big Box REIT plc

20 December 2016

20 December 2016

TRITAX BIG BOX REIT PLC

(the "Company")

RESULT OF EXTRAORDINARY GENERAL MEETING

The Board of Directors (the "Board") of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Resolution proposed at the Extraordinary General Meeting held earlier today was duly passed.

Details of the proxies received from Shareholders in respect of the Resolution are set out below:

 
 Resolution           For   Percentage      Against   Percentage   Withheld 
-----------  ------------  -----------  -----------  -----------  --------- 
     1        636,470,362       90.33%   68,119,730        9.67%     13,671 
-----------  ------------  -----------  -----------  -----------  --------- 
 

Notes:

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

b) A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" and "Against" a resolution.

c) Any proxy appointments which gave discretion to the Chairman have been included in the "For" totals.

The Resolution was in relation to certain amendments to the Investment Management Agreement between the Company and the Manager, Tritax Management LLP, (the "IMA") including:

i) a reduction of the management fee applicable to Basic NAV (excluding cash balances) at new upper bands;

ii) an extension of the term of the IMA, with an earliest termination date of 31 December 2021; and

iii) tightening of the restrictive conflict provisions relating to the activities of the Manager.

Details of the amendments to the IMA were set out in the circular published by the Company on 2 December 2016 (the "Circular").

Following the approval of the Resolution, the Company and the Manager have entered into the amended IMA. As the Manager is deemed to be a related party to the Company, entering into the amended IMA is a smaller related party transaction under the Listing Rules and, therefore, falls within the requirements of Listing Rule 11.1.10 R.

All capitalised terms in this announcement and not otherwise defined shall have the meaning given to them in the Circular. The Circular is available for inspection in electronic form on the Company's website, www.tritaxbigbox.co.uk.

For further information, please contact:

 
 
 Tritax Group                      via Newgate 
  Colin Godfrey (Partner, Fund 
  Manager) 
 
 Newgate (PR Adviser)              Tel: [phone] 
  James Benjamin                    Email: [e-mail] 
  Zoe Pocock 
  Lydia Thompson 
 
 Jefferies International Limited   Tel: [phone] 
  (Joint Financial Adviser and 
  Broker) 
  Gary Gould 
  Stuart Klein 
 
 Akur Limited (Joint Financial     Tel: [phone] 
  Adviser) 
  Anthony Richardson 
  Tom Frost 
  Siobhan Sergeant 
 

NOTES:

Tritax Big Box REIT plc is the only listed vehicle to give pure exposure to the "Big Box" logistics asset class in the UK and is committed to delivering attractive and sustainable returns for shareholders. Investing in and managing both standing and pre-let forward funded development assets, the Company focuses on well-located, modern "Big Box" logistics assets, typically greater than 500,000 sq. ft., let to institutional-grade tenants on long-term leases (typically at least 12 years in length) with upward-only rent reviews and geographic and tenant diversification throughout the UK. The Company seeks to exploit the significant opportunity in this sub-sector of the UK logistics market owing to strong tenant demand and limited stock supply.

The Company is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies ("REIT"), is listed on the premium listing segment of the Official List of the UK Financial Conduct Authority and is a constituent of the FTSE 250, FTSE EPRA/NAREIT and MSCI indices.

Further information on Tritax Big Box REIT is available at www.tritaxbigbox.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 20, 2016 05:26 ET (10:26 GMT)