Real Estate Investors PLC Result of AGM and Directorate Changes (2276A)

TIDMRLE

RNS Number : 2276A

Real Estate Investors PLC

28 May 2021

28 May 2021

Real Estate Investors Plc

("REI" or the "Company")

Result of AGM and Directorate Changes

Real Estate Investors Plc (AIM: RLE), the UK's only Midlands-focused Real Estate Investment Trust (REIT) with a portfolio of 1.59 million sq ft of investment property across all sectors, is pleased to announce that all resolutions put to shareholders at the Company's Annual General Meeting held earlier today were duly passed.

The total votes were cast as follows:

 
 Resolution   For          %       Against     %      Withheld 
 1            95,985,444   99.99   1,682       0.01   5,104 
 2            86,201,587   95.24   4,315,049   4.76   5,475,594 
 3            95,919,682   99.95   50,526      0.05   22,022 
 4            95,918,682   99.95   53,026      0.05   20,522 
 5            95,967,686   99.98   13,688      0.02   10,856 
 6            95,972,778   99.99   1,682       0.01   17,770 
 7A           91,562,328   95.39   4,420,546   4.61   9,356 
 7B           91,498,328   95.33   4,482,546   4.67   11,356 
 8            91,466,293   95.30   4,514,581   4.70   11,356 
 9            95,919,594   99.98   15,188      0.02   57,448 
 

Note: 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" shown.

Following the conclusion of the AGM, the Board confirms that John Crabtree OBE has formally retired as Non-Executive Chairman of the Company and we are pleased to announce that William Wyatt, former Non-Executive Director of the Company has been appointed as Non-Executive Chairman with immediate effect.

William has served on the Board of the Company since 2010 and is well placed to continue the strategic direction and focus of the business. William has extensive knowledge of the business and has enjoyed a successful executive career and is currently Chief Executive of Caledonia, having joined in 1997 from Close Brothers Group Plc.

This appointment is the result of our Chairman succession planning, an ongoing process which identifies necessary competencies and works to assess what is required to ensure a continuing of leadership for all critical positions.

William Wyatt, Non-Executive Chairman, commented : "I am delighted to accept the role of Chairman and, on behalf of the Board, I would like to express my deep thanks to John for his invaluable contribution to the Company since its early days. Despite the difficulties caused by the Covid-19 pandemic, he leaves the business in excellent condition, well placed to continue to deliver resilient and growing income together with attractive capital growth. The Board sincerely wishes John the very best in his future endeavours and particularly in his role of Chairman of the Organising Committee of the 2022 Commonwealth Games, a significant event in the history of our region and one which we all anticipate eagerly."

Enquiries:

 
 
   Real Estate Investors Plc 
   Paul Bassi/Marcus Daly           [phone] 
 
   Cenkos Securities 
   Katy Birkin/Ben Jeynes           [phone] 
 
   Liberum 
   Jamie Richards/William Hall      [phone] 
 
   Allenby Capital 
   Nick Naylor                      [phone] 
 
   Novella Communications 
   Tim Robertson/Fergus Young       [phone] 
 

About Real Estate Investors Plc

Real Estate Investors Plc is a publicly quoted, internally managed property investment company and REIT with a portfolio of 1.59 million sq ft of mixed-use commercial property, managed by a highly-experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors. The Company ' s strategy is to invest in well located, real estate assets in the established and proven markets across the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings. The portfolio has no material reliance on a single asset or occupier.

On 1st January 2015, the Company converted to a REIT. Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities. The Company aims to deliver capital growth and income enhancement from its assets, supporting its progressive dividend policy. Further information on the Company can be found at www.reiplc.com .

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May 28, 2021 07:14 ET (11:14 GMT)