RDI REIT PLC Result of AGM (9594C)

TIDMRDI

RNS Number : 9594C

RDI REIT PLC

25 January 2018

RDI REIT P.L.C.

("RDI" or the "Company")

(Registered number 010534V)

LSE share code: RDI

JSE share code: RPL

ISIN: IM00B8BV8G91

LEI: 2138006NHZUMMRYQ1745

Annual General Meeting Voting Results

RDI, the FTSE 250 income-focused UK-REIT, announces that at the Annual General Meeting ("AGM") held today, all the proposed resolutions were duly passed by the required majority on votes conducted by way of a poll.

The results of voting by all shareholders on the resolutions, which can be found in the Notice of AGM, were as follows: -

 
 Resolution                                      For     %         Against     %       Withheld 
------------------------------------  --------------  ------  ------------  ------  ----------- 
      To adopt the Group and 
       Company's audited financial 
       statements for the year 
       ended 31 August 2017 
       together with the reports 
       of the Directors and 
 1.    Independent Auditors            1,275,575,007   99.97       413,103    0.03    7,920,086 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To approve the Directors' 
 2     Annual Report on Remuneration   1,125,598,183   89.41   133,326,607   10.59   25,063,404 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To re-elect GA Clarke 
 3     as a Director                   1,264,931,993   99.11    11,405,161    0.89    7,651,042 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To re-elect MJW Farrow 
 4     as an Independent Director      1,269,501,929   99.47     6,782,527    0.53    7,703,739 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To re-elect GR Tipper 
 5     as an Independent Director      1,262,091,367   99.57     5,484,838    0.43   16,331,990 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To re-elect SE Ford as 
 6     an Independent Director         1,274,250,897   99.84     2,033,560    0.16    7,703,739 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To re-elect RS Orr as 
 7     an Independent Director         1,274,257,106   99.85     1,957,351    0.15    7,693,739 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To elect EA Peace as 
 8     an Independent Director         1,274,247,736   99.84     2,036,721    0.16    7,703,739 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To re-elect M Wainer 
 9     as a Director                   1,193,136,093   94.12    74,481,407    5.88   16,290,694 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To re-elect B Nackan 
 10    as a Director                   1,205,378,083   95.09    62,240,057    4.91   16,290,054 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To re-elect MJ Watters 
 11    as a Director                   1,270,945,096   99.58     5,385,926    0.42    7,577,174 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To re-elect SJ Oakenfull 
 12    as a Director                   1,270,961,137   99.59     5,295,256    0.41    7,651,803 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To re-elect DA Grant 
 13    as a Director                   1,270,747,596   99.56     5,588,797    0.44    7,651,803 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To re-elect AA Horsburgh 
 14    as a Director                   1,270,663,978   99.56     5,591,816    0.44    7,652,402 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To re-appoint KPMG as 
       the Company's Independent 
 15    Auditor                         1,236,952,700   96.96    38,808,288    3.04    8,147,207 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To authorise the Directors 
       to determine the remuneration 
 16    of the Independent Auditor      1,276,024,637   99.99       179,786    0.01    7,702,549 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To approve an increase 
       in the aggregate fees 
       paid to Non-executive 
 17    Directors                       1,263,988,148   99.31     8,751,188    0.69   11,167,636 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To authorise the Directors 
       to allot Ordinary Shares 
       up to the limits contained 
 18    in the Notice of AGM            1,222,954,936   95.82    53,395,662    4.18    7,556,374 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To authorise the Directors 
       to offer a scrip dividend 
 19    alternative                     1,275,741,727   99.96       526,853    0.04    7,638,392 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To authorise the Directors 
       to dis-apply pre-emption 
       rights up to the limits 
       stated in the Notice 
 20    of AGM                          1,259,217,613   98.66    17,142,300    1.34    7,547,059 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To authorise the Directors 
       to dis-apply pre-emption 
       rights in connection 
 21    with a specified investment     1,265,944,579   99.18    10,415,333    0.82    7,547,059 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 
      To authorise the Directors 
       to make market purchases 
 22    of own shares                   1,260,994,679   98.82    15,043,600    1.18    7,868,692 
---  -------------------------------  --------------  ------  ------------  ------  ----------- 
 

It should be noted that a vote withheld is not a vote in law and will not be counted in the calculation of the proportion of the votes for and against the resolution.

The Company's total issued share capital as at 25 January 2018 is 1,905,132,887 ordinary shares of 8 pence each.

In accordance with LR 9.6.2 R of the Listing Rules of the UKLA, copies of all resolutions passed by the Company, other than resolutions concerning ordinary business, have been submitted to the UK's National Storage Mechanism and will shortly be available for inspection at: http://www.morningstar.co.uk/uk/NSM and can also be viewed on the Company's website, www.rdireit.com.

For further information:

 
 RDI REIT P.L.C. 
  Mike Watters, Stephen Oakenfull     Tel: +44 (0) 20 
                                      7811 0100 
 FTI Consulting 
  UK Public Relations Adviser 
  Dido Laurimore, Claire Turvey,      Tel: +44 (0) 20 
  Ellie Sweeney                       3727 1000 
 Instinctif Partners 
  SA Public Relations Adviser 
  Frederic Cornet, Lizelle du         Tel: +27 (0) 11 
  Toit                                447 3030 
 Java Capital 
  JSE Sponsor                         Tel: +27 (0) 11 
                                      722 3050 
 

Note to editors:

About RDI

RDI is a FTSE 250 UK Real Estate Investment Trust (UK-REIT) committed to becoming the UK's leading income focused REIT. The Company's income-led business model and strategic priorities are designed to offer shareholders superior, sustainable and growing income returns, with a target growth in underlying earnings per share of 3%-5% across the medium term.

Income sustainability is underpinned by a diversified portfolio and tenant base, with no overreliance on any one sector or tenant, together with an efficient capital structure. The secure and growing income stream is 39% indexed and has a WAULT of 7.4 years to first break (8.5 years to expiry). This is complemented by an average debt maturity of 7.3 years of which over 90% of interest costs are either fixed or capped. The Company is focused on all aspects impacting shareholder distributions and reports one of the lowest cost ratios in the industry whilst maintaining a low cost of debt. All figures as at 31 August 2017.

The Company owns properties independently valued at GBP1.5bn in the United Kingdom and Germany, Europe's two largest and most transparent property markets. RDI invests in assets with strong property fundamentals spread across UK shopping centres, UK retail parks, UK offices, UK logistics, UK hotels and German retail.

RDI holds a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange and is included within the FTSE 250, EPRA and GPR indices.

For more information on RDI, please refer to the Company's website www.rdireit.com

This information is provided by RNS

The company news service from the London Stock Exchange

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January 25, 2018 09:45 ET (14:45 GMT)