Unite Group PLC Result of General Meeting (5947Q)

TIDMUTG

RNS Number : 5947Q

Unite Group PLC

30 November 2016

30 November 2016

THE UNITE GROUP PLC

("Unite Students", "Unite", the "Group", or the "Company")

RESULT OF GENERAL MEETING

Unite Students, the UK's leading manager and developer of student accommodation, confirms that at today's General Meeting a special resolution amending the Company's Articles of Association in relation to a future REIT conversion was duly approved.

Following this support from shareholders, the Company intends to complete its conversion to a REIT with effect from 1 January 2017.

The proxy results are detailed below.

Investor and Analyst Event - 1 December 2016

On 1 December 2016, Unite will be hosting an investor and analyst event at one of its most recently completed developments in London. The event will include an update on the sector, the Company's progress with its development pipeline and will focus on how Unite continues to grow value and drive earnings.

A presentation accompanying the event will be made available on the Company's website.

Proxy results

 
 Special Resolution     For           %        Against   %      Total         % ISC    Votes 
                                                                 ISC           voted    Withheld 
                                                                 voted 
---------------------  ------------  -------  --------  -----  ------------  -------  ---------- 
 To approve 
  various amendments 
  to the Company's 
  Articles 
  of Association 
  required 
  in connection 
  with the 
  proposed 
  conversion 
  to a REIT             185,775,372   100.00   0         0.00   185,775,372   83.68    46,414 
---------------------  ------------  -------  --------  -----  ------------  -------  ---------- 
 

Notes

1. Where shareholders appointed the Chairman as their proxy with discretion as to voting, their votes were cast in favour of the resolution and their shares have been included in the "For" column.

2. A "Vote Withheld" is not a vote in law and is not counted in the calculation of "For" and "Against" a resolution.

   3.     Number of ordinary shares in issue ("ISC") at the date of the General Meeting: 222,013,075. 

ENDS

For further information, please contact:

 
 
   Unite Students                  Tel: +44 117 
   Joe Lister, Chief Financial     302 7005 
   Officer 
   Paul Richmond, Corporate 
   Affairs Director 
   Bell Pottinger 
    Victoria Geoghegan             Tel: +44 203 
    Nick Lambert                   772 2562 
    Elizabeth Snow 
 

Notes to editors:

About Unite Students

Unite Students is the UK's largest and most established manager and developer of purpose-built student accommodation. It provides a home for around 50,000 students, in more than 140 properties, across 28 leading university cities in England and Scotland. Unite works in partnership with more than 60 Higher Education institutions and also lets rooms directly to students.

Unite's purpose is to provide a home to its culturally-diverse customers, offering them a strong foundation for academic and personal success. The accommodation is high quality, safe and close to university campuses, transport links and local amenities. Students live in ensuite study bedrooms with rents covering all bills, insurance, 24-hour security, fortnightly cleaning of communal kitchens and bathrooms and high speed Wi-Fi.

Founded in 1991 in Bristol, The Unite Group plc is a FTSE250 company, listed on the London Stock Exchange, employing more than 1,250 people. It pursues a sustainable growth strategy, designed to make the most of the resilient nature of the student accommodation sector. Unite is focused on maintaining its position as the leading provider of student accommodation in the UK, by having the best brand, operating the highest quality portfolio and maintaining the strongest capital structure in the sector. This is achieved with consistent investment in, and improvement to, the operating platform; highly selective development activity and asset management initiatives.

Unite is invested in and operates a small number of specialist funds and joint ventures with institutional investment partners, the largest of which is the GBP2 billion Unite UK Student Accommodation Fund (USAF).

Unite is the founder and major donor of the Unite Foundation. Since 2012 this has provided free student accommodation and financial support to 160 young people in the UK who lack family support.

For more information you can visit Unite's corporate websitewww.unite-group.co.uk, the student site www.unite-students.com or the Unite Foundation site www.unitefoundation.co.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

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November 30, 2016 10:13 ET (15:13 GMT)