LXB Retail Properties Plc Results of Meetings (0995U)

TIDMLXB

RNS Number : 0995U

LXB Retail Properties Plc

27 March 2019

LXB Retail Properties Plc

(the "Company" or the "Group")

Results of Meetings

Results of Extraordinary General Meeting

The Board of the Company announces that the proposals to cancel trading in the ordinary shares of no par value in the capital of the Company (the "Ordinary Shares") on AIM and to delist the Ordinary Shares from the International Stock Exchange, as described in the circular dated 1 March 2019

(the "Circular"), put to shareholders at the Extraordinary General Meeting which took place in Jersey at 10:00am on 26 March 2019 were passed by the requisite majorities.

The results of the proxy votes are set out below:

 
                 For          Against   Withheld* 
 Resolution 1    76,881,902   233,569   32,043 
                -----------  --------  ---------- 
                 99.7%        0.3% 
                -----------  --------  ---------- 
 Resolution 2    76,881,902   233,569   32,043 
                -----------  --------  ---------- 
                 99.7%        0.3% 
                -----------  --------  ---------- 
 

* A vote withheld is not a vote in law and as such is not counted in the calculation of the proportion of votes for and or against a resolution.

Results of Annual General Meeting

The Board of the Company announces that resolutions numbered 1 to 9 put to shareholders at the Annual General Meeting which took place in Jersey at 10:30am on 26 March 2019 were passed.

The results of the proxy votes are set out below:

 
                 For          Against     Withheld* 
 Resolution 1    61,806,902   6,500       11,441 
                -----------  ----------  ----------- 
                 99.99%       0.01% 
                -----------  ----------  ----------- 
 Resolution 2    61,019,303   805,540     0 
                -----------  ----------  ----------- 
                 98.7%        1.3% 
                -----------  ----------  ----------- 
 Resolution 3    47,989,098   805,540     13,030,205 
                -----------  ----------  ----------- 
                 98.35%       1.65% 
                -----------  ----------  ----------- 
 Resolution 4    61,611,549   213,294     0 
                -----------  ----------  ----------- 
                 99.66%       0.34% 
                -----------  ----------  ----------- 
 Resolution 5    61,611,549   213,294     0 
                -----------  ----------  ----------- 
                 99.66%       0.34% 
                -----------  ----------  ----------- 
 Resolution 6    61,607,901   216,942     0 
                -----------  ----------  ----------- 
                 99.65%       0.35% 
                -----------  ----------  ----------- 
 Resolution 7    60,495,995   1,328,848   0 
                -----------  ----------  ----------- 
                 97.85%       2.15% 
                -----------  ----------  ----------- 
 Resolution 8    61,614,401   210,442     0 
                -----------  ----------  ----------- 
                 99.66%       0.34% 
                -----------  ----------  ----------- 
 Resolution 9    60,460,495   1,364,348   0 
                -----------  ----------  ----------- 
                 97.79%       2.21% 
                -----------  ----------  ----------- 
 

* A vote withheld is not a vote in law and as such is not counted in the calculation of the proportion of votes for and or against a resolution.

Transfers of the IW Group Transferring SPVs to the IW Group

The Company has today exercised the Put Option granted to it by IW Topco Limited as part of the Scheme in respect of the Company's remaining subsidiary undertakings that will exist beyond Company Dissolution (with the exception of the SPVs involved with Phase 2 at Rushden Lakes, comprising LXB RP (Rushden) Limited and LXB RP (Skew Bridge) Limited), being LXB Holdings 2 Ltd, LXB RP (Stafford) Ltd, LXB RP (Stafford 2) Ltd, LXB RP (Wildmere Road) Ltd, LXB RP (Bridge Street) Ltd, LXB RP (Riverside) Ltd, LXB RP (Gallions Road) Ltd and LXB RP (Sutton) Ltd, and accordingly such companies will transfer to the IW Group on or around 1 April 2019 in accordance with the Framework Agreement and on the basis set out in the Circular.

Expected timetable of principal events

The following timetable sets out the expected dates of principal events, some of which are indicative and some of which have changed since the date of the Circular. Capitalised terms, unless otherwise defined shall have the meaning given to them in the Circular:

2019

 
 Transfer of the IW Group Transferring SPVs         On or around 1 April 
  to the IW Group 
 Transfer of LXB Skew Bridge and LXB Rushden       On or before 16 April 
  to Blizzard 
 Court Dissolution Hearing                              10.00 a.m. on 26 
                                                                   April 
 Last day of dealings in, and for registration                  29 April 
  of transfers of, and disablement in CREST 
  of, the Ordinary Shares 
 Record date for participation in Dissolution          Close of business 
  Return of Capital                                          on 29 April 
 Suspension of admission to trading on AIM,        7.30 a.m. on 30 April 
  listing on TISE and dealings in the Ordinary 
  Shares 
 CREST accounts credited and despatch of cheques     As soon as possible 
  in respect of Dissolution Return of Capital                   on 6 May 
 Expected time and date of AIM Cancellation           7.00 a.m. on 7 May 
  and TISE Delisting 
 Expected time and date of Company Dissolution        After 9.00 a.m. on 
                                                                   7 May 
 

Copies of the Circular are available on the Company's website (www.lxbproperties.com)

For further information please contact:

LXB3 Partners LLP Tel: [phone]

Tim Walton, CEO

J.P. Morgan Cazenove (NOMAD) Tel: [phone]

Bronson Albery/Paul Hewlett

Buchanan Tel: [phone]

Charles Ryland/Henry Wilson

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

ROMJFMTTMBBTTTL

(END) Dow Jones Newswires

March 27, 2019 03:01 ET (07:01 GMT)