PRS REIT PLC (The) Result of AGM (2940I)

TIDMPRSR

RNS Number : 2940I

PRS REIT PLC (The)

10 December 2020

10 December 2020

PRSR.L

The PRS REIT plc

(the "Company" or the "PRS REIT")

Result of AGM

The PRS REIT, the closed-ended real estate investment trust that invests in new-build homes in the Private Rented Sector, is pleased to announce that at the Annual General Meeting held on 10 December 2020, resolutions 1 to 10 were passed as ordinary resolutions and resolutions 11 to 13 were passed as special resolutions.

The text of all the resolutions is contained in the Company's Notice of Annual General Meeting published on 9 November 2020.

The results of the polls taken on the resolutions, on which Link Asset Services, the Company's registrar, acted as scrutineer, are as follows:

 
        Resolution           In favour   Percentage   Against    Percentage  Withheld    Total votes 
                                          In favour                Against              Cast (excluding 
                                                                                           withheld) 
1 - Adoption 
 of Accounts                356,771,915       96.66  12,340,243        3.34     3,583       369,112,158 
                            -----------  ----------  ----------  ----------  --------  ---------------- 
2 - Directors' 
 Remuneration 
 Report                     367,746,944       99.63   1,364,797        0.37     4,000       369,111,741 
                            -----------  ----------  ----------  ----------  --------  ---------------- 
3 - Directors' 
 Remuneration 
 Policy                     364,323,224        98.7   4,788,517         1.3     4,000       369,111,741 
                            -----------  ----------  ----------  ----------  --------  ---------------- 
4 - Appointment 
 of Steve Smith             356,307,524       96.53  12,808,217        3.47         0       369,115,741 
                            -----------  ----------  ----------  ----------  --------  ---------------- 
5 - Appointment 
 of Steffan Francis         368,548,880       99.85     566,861        0.15         0       369,115,741 
                            -----------  ----------  ----------  ----------  --------  ---------------- 
6 - Appointment 
 of Rod Macrae              368,524,880       99.84     590,861        0.16         0       369,115,741 
                            -----------  ----------  ----------  ----------  --------  ---------------- 
7 - Appointment 
 of Jim Prower              355,098,929        96.2  14,016,812         3.8         0       369,115,741 
                            -----------  ----------  ----------  ----------  --------  ---------------- 
8 - Auditor reappointment   369,109,955       99.99       2,203        0.01     3,583       369,112,158 
                            -----------  ----------  ----------  ----------  --------  ---------------- 
9 - Auditor remuneration    369,108,158         100           0           0     7,583       369,108,158 
                            -----------  ----------  ----------  ----------  --------  ---------------- 
10 - Authority 
 to allot 33% 
 ISC                        369,109,955       99.99       5,786        0.01         0       369,115,741 
                            -----------  ----------  ----------  ----------  --------  ---------------- 
11 - Pre-emption 
 disapplication 
 - 10%*                     367,759,658       99.63   1,353,583        0.37     2,500       369,113,241 
                            -----------  ----------  ----------  ----------  --------  ---------------- 
12 - Pre-emption 
 disapplication 
 - 10%*                     300,846,822       81.51  68,226,619       18.49    42,300       369,073,441 
                            -----------  ----------  ----------  ----------  --------  ---------------- 
13 - Market purchase 
 of own Shares*             369,068,060       99.99      47,681        0.01         0       369,115,741 
                            -----------  ----------  ----------  ----------  --------  ---------------- 
 

* Special Resolution

For further information, please contact:

 
The PRS REIT plc                             Tel: [phone] (c/o 
 Steve Smith, Non-executive Chairman          KTZ Communications) 
Sigma PRS Management Limited                 Tel: [phone] 
 Graham Barnet, Mike McGill 
N+1 Singer                                   Tel: [phone] 
 James Maxwell, James Moat 
G10 Capital Limited (part of the IQEQ Group  Tel: [phone] 
 as AIFM) 
 Paul Turner 
KTZ Communications                           Tel: [phone] 
 Katie Tzouliadis, Dan Mahoney 
 

NOTES TO EDITORS

About The PRS REIT plc

www.theprsreit.com

The PRS REIT plc is a closed-ended real estate investment trust established to invest in the Private Rented Sector and to provide shareholders with an attractive level of income together with the potential for capital and income growth. The Company is investing GBP0.9bn in a portfolio of high quality homes for private rental across the regions, having raised a total of GBP500m (gross) through its Initial Public Offering, on 31 May 2017, and a subsequent placing in February 2018. Both fundraisings were supported by the UK Government's Homes England with direct investments.

LEI: 21380037Q91HU97WZX58

About Sigma Capital Group plc

www.sigmacapital.co.uk

Sigma Capital Group plc ("Sigma") is a PRS, residential development, and urban regeneration specialist, with offices in Edinburgh, Manchester and London. Sigma's principal focus is on the delivery of large scale housing schemes for the private rented sector. The Company has a well-established track record in assisting with property related regeneration projects in the public sector, acting as a bridge between the public and private sectors.

Sigma has created an unrivalled PRS Platform, which sources sites and brings together construction resource to develop them, enabling Sigma to deliver an integrated solution to partners. As well as sourcing sites and managing all stages of the planning and development process, Sigma also manages the rental of completed homes through its award winning rental brand 'Simple Life'. The Company's subsidiary, Sigma PRS Management Limited, is Investment Adviser to The PRS REIT plc.

About Sigma PRS Management Limited

Sigma PRS Management Limited is a wholly-owned subsidiary of AIM-quoted Sigma Capital Group plc and is Investment Adviser to The PRS REIT plc. It sources investments and operationally manages the assets of The PRS REIT plc and advises the Alternative Investment Fund Manager ("AIFM") and The PRS REIT plc on a day-to-day basis in accordance with The PRS REIT plc's Investment Policy. The Investment Manager is G10 Capital Limited. Sigma PRS Management Ltd is an appointed representative of G10 Capital Limited, which is authorised and regulated by the Financial Conduct Authority (FRN:648953).

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December 10, 2020 12:01 ET (17:01 GMT)