Picton Prop Inc Ltd Result of AGM

 
TIDMPCTN 
 
Picton Property Income Limited 
 
                          ("Picton" or the "Company") 
                       LEI Number: 213800RYE59K9CKR4497 
 
13 september 2018 
 
                       RESULT OF ANNUAL GENERAL MEETING 
 
At the Annual General Meeting of the Company held on 13 September 2018, all 
Ordinary Resolutions set out in the Annual General Meeting Notice sent to 
Shareholders dated 6 August 2018 were duly passed. A copy of the full voting 
totals will be published on the Company's website at: www.picton.co.uk 
 
In accordance with Listing Rule 9.6.2 the following Special Business 
resolutions were also passed: 
 
MARKET ACQUISITIONS 
 
To renew the authority of the Company, in 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 2019, 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. 
 
DISAPPLICATION OF PRE-EMPTION RIGHTS 
 
To empower the Directors of the Company to dis-apply the right of shareholders 
to receive a pre-emptive offer of new Ordinary Shares pursuant to Article 5.12 
of the Articles of Incorporation provided that this power shall be limited to 
the issue of up to 27,002,683 Ordinary Shares (being equal to 5 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 2019, 
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. 
 
DISAPPLICATION OF PRE-EMPTION RIGHTS 
 
That conditional and in addition to extraordinary resolution 10 above having 
been passed, to empower the Directors of the Company to dis-apply the right of 
shareholders to receive a pre-emptive offer of new Ordinary Shares pursuant to 
Article 5.12 of the Articles of Incorporation provided that this power shall 
be: (i) limited to the issue of up to 27,002,683 Ordinary Shares (being equal 
to 5 per cent of the Ordinary Shares in issue as at the date of this Notice); 
and (ii) used only for the purposes of financing (or refinancing, if the 
authority is to be used within six months after the original transaction) a 
transaction which the Directors determine to be an acquisition or other capital 
investment of a kind contemplated by the Statement of Principles on Disapplying 
Pre-Emption Rights most recently published by the Pre-Emption Group prior to 
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 2019, 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: 
 
Northern Trust International Fund Administration Services (Guernsey) Limited 
The Company Secretary 
Trafalgar Court 
Les Banques 
St Peter Port 
Guernsey 
GY1 3QL 
 
Tel:        [phone] 
 
 
Note to Editors 
 
Picton is a property investment company established in 2005. It owns and 
actively manages a GBP678 million diversified UK commercial property portfolio, 
invested across 49 assets and with around 360 occupiers (as at 30 June 2018). 
Through an occupier focused, opportunity led approach to asset management, 
Picton aims to be one of the consistently best performing diversified UK 
focused property companies listed on the main market of the London Stock 
Exchange. 
 
For more information please visit: www.picton.co.uk 
 
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(END) Dow Jones Newswires

September 13, 2018 10:02 ET (14:02 GMT)