Secure Income REIT PLC Result of AGM (7436O)

TIDMSIR

RNS Number : 7436O

Secure Income REIT PLC

21 May 2018

21 May 2018

Secure Income REIT Plc

(the "Company")

Result of Annual General Meeting

The Board of Secure Income REIT Plc (AIM: SIR), the specialist long term income REIT, confirms that, at the Annual General Meeting of the company held on 21 May 2018, all resolutions proposed were duly passed.

The results of voting for each resolution were:

 
                                      For    % For      Against   % Against   Withheld* 
 Ordinary Resolutions: 
                             ------------  -------  -----------  ----------  ---------- 
 1. Approval of 2017 
  report and accounts         231,267,867    98.79    2,832,184        1.21           - 
                             ------------  -------  -----------  ----------  ---------- 
 2. Reappointment 
  of Mike Brown               231,233,360    98.78    2,866,691        1.22           - 
                             ------------  -------  -----------  ----------  ---------- 
 3. Reappointment 
  of Jonathan Lane            234,065,544    99.99       34,507        0.01           - 
                             ------------  -------  -----------  ----------  ---------- 
 4. Reappointment 
  of Ian Marcus               234,100,051   100.00            -           -           - 
                             ------------  -------  -----------  ----------  ---------- 
 5. Reappointment 
  of BDO LLP as auditors      231,267,867    98.79    2,832,184        1.21           - 
                             ------------  -------  -----------  ----------  ---------- 
 6. Directors' authority 
  to fix auditors' 
  fees                        234,100,051   100.00            -           -           - 
                             ------------  -------  -----------  ----------  ---------- 
 Special Resolutions: 
                             ------------  -------  -----------  ----------  ---------- 
 7. Authorisation 
  to make market purchases    234,100,051   100.00            -           -           - 
                             ------------  -------  -----------  ----------  ---------- 
 8. Authorisation 
  to make non pre-emptive 
  share issues                217,753,781    93.02   16,337,700        6.98       8,570 
                             ------------  -------  -----------  ----------  ---------- 
 

* Votes withheld are not included within the totals of votes cast.

Total votes cast for each resolution amounted to 72.8% of shares in issue.

For further information, please contact:

 
Secure Income REIT Plc                           [phone] 
Sandy Gumm                       [e-mail] 
 
Stifel Nicolaus Europe Limited 
 (Nominated Adviser)                             [phone] 
David Arch                          [e-mail] 
Tom Yeadon 
 
Newgate (PR Adviser)                             [phone] 
James Benjamin                               [e-mail] 
Anna Geffert 
Patrick Hanrahan 
Leena Patel 
 

About Secure Income REIT Plc

Secure Income REIT specialises in generating long term, inflation protected, secure income from real estate investments. Its investment strategy is designed to satisfy investors' growing requirements for high quality, safe, inflation protected income flows.

At 31 December 2017, the Company's investment property portfolio was valued at GBP1.77 billion, producing GBP95.7 million per annum of rental income from long term leases with a weighted average unexpired term to expiry of over 22 years. All rental income is subject to fixed or RPI upwards only rent reviews.

On 9 March 2018, the Company exchanged contracts to acquire two off-market portfolios at a total cost of GBP436 million. The acquisitions include Manchester Arena, the UK's largest indoor entertainment arena, 76 Travelodge hotels and The Brewery on Chiswell Street, the largest catered event space in the City of London. To finance the acquisitions, the Company successfully raised gross proceeds of GBP315.5 million in a significantly oversubscribed Placing of 86,438,000 Ordinary Shares, completing the Placing over a week earlier than planned following strong investor demand. New secured non-recourse debt facilities of c. GBP128.7 million at c.30% loan to cost have also been agreed.

Following completion of the Acquisitions, the Enlarged Group will own approximately GBP2.2 billion of investment property with a weighted average unexpired lease term of some 22 years. The Acquisitions further diversify the Group's resilient portfolio of Key Operating Assets let to strong businesses in defensive sectors with high barriers to entry. The RPI linked rent reviews and fixed rental uplifts combine with fixed cost debt to drive healthy dividend growth, creating attractive and predictable returns.

The Company is advised by Prestbury Investments LLP which was adviser to Max Property Group plc until August 2014, when all of the assets of Max Property Group plc were sold to Blackstone Group. Prestbury Investments LLP is a partnership of real estate and finance professionals including Nick Leslau, Mike Brown, Tim Evans, Ben Walford and Sandy Gumm.

The Company's Board is chaired by Martin Moore and also comprises three further independent Directors in Leslie Ferrar, Jonathan Lane and Ian Marcus, as well as three members of the Prestbury Team in Nick Leslau, Mike Brown and Sandy Gumm.

The Company is a UK REIT which floated on the AIM market of the London Stock Exchange in June 2014.

The Company's LEI is: 213800M1VI451RU17H40

Further information on Secure Income REIT is available at: www.SecureIncomeREIT.co.uk

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May 21, 2018 07:29 ET (11:29 GMT)