Standard Life Investments Property Income Trust - Result of AGM

Standard Life Investments Property Income Trust Limited
(an authorised closed-ended investment company incorporated in Guernsey with registration number 41352)
(the “Company”)

LEI Number 594300HHFBWZRKC7RW84

14 June 2019

Result of Annual General Meeting

At the Annual General Meeting (the “AGM”) of the Company held on 13 June 2019, all the resolutions as set out in the AGM Notice dated 17 April 2019 and sent to shareholders were duly passed.

Details of the proxy voting results which should be read alongside the Notice are noted below:

Ordinary Resolution	For	Discretion (voted in favour)	Against	Abstain
1	149,973,001	68,816	27,649	233,934
2	149,916,057	68,816	291,141	4,101
3	148,510,236	68,816	277,007	1,447,342
4	150,214,585	68,816	20,000	0
5	150,131,205	68,816	84,391	18,989
6	150,100,535	68,816	95,338	38,712
7	149,978,689	70,716	251,695	2,301
8	150,043,521	70,716	175,033	14,131
9	149,987,539	70,716	231,014	14,131
10	149,833,356	70,716	385,197	14,131
11	149,999,983	70,716	218,571	14,131
Special Resolution	For	Discretion (voted in favour)	Against	Abstain
12	150,001,596	78,816	150,437	72,552
13	138,791,993	78,816	11,432,591	0

Note - A vote withheld is not a vote in law and has not been counted in the votes for and against a resolution. 

SPECIAL RESOLUTION – SHARE BUYBACK

To authorise the Company, in accordance with The Companies (Guernsey) Law, 2008, as amended to make market acquisitions of its own shares of 1 pence each (either for retention as treasury shares for future resale or transfer or cancellation) provided that:

a.  the maximum number of Ordinary Shares hereby authorised to be purchased 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 the higher of (i) 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 acquisition and (ii) the higher of the last independent trade and the highest current independent bid on the trading venue on which the purchase is carried out; and

d. unless previously varied, revoked or renewed, the authority hereby conferred shall expire on 13 December 2020 or, if earlier, at the conclusion of the Annual General Meeting of the Company to be held in 2020, save that the Company may, prior to such expiry, enter into a contract to acquire ordinary shares under such authority and may make an acquisition of ordinary shares pursuant to any such contract.

SPECIAL RESOLUTION – pre-emption rights:

That the Directors of the Company be and they are hereby generally empowered, to allot ordinary shares in the Company or grant rights to subscribe for, or to convert securities into, ordinary shares in the Company (“equity securities”) for cash, including by way of a sale of ordinary shares held by the Company as treasury shares, as if any pre-emption rights in relation to the issue of shares as set out in the listing rules made by the Financial Services Authority under Part VI of the Financial Services and Markets Act 2000, as amended, did not apply to any such allotment of equity securities, provided that this power:

a.   expires at the conclusion of the next Annual General Meeting of the Company after the passing of this resolution or on the expiry of 15 months from the passing of this resolution, whichever is the earlier, save that the Company may, before such expiry, make an offer or agreement which would or might require equity securities to be allotted after such expiry and the Directors may allot equity securities in pursuance of any such offer or agreement as if the power conferred hereby had not expired; and

b.  shall be limited to the allotment of equity securities up to an aggregate nominal value of £405,865 being approximately 10 per cent of the nominal value of the issued share capital of the Company, as at 17 April 2019.

In accordance with Listing Rule 9.6.3, a copy of the Special Resolutions will be submitted to the National Storage Mechanism and will shortly be available for inspection at: www.morningstar.co.uk/uk/NSM.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

The Company Secretary
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Tel: [phone]
Fax: [phone]

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