Share Name Share Symbol Market Type Share ISIN Share Description
Yew Grove Reit Plc LSE:YEW London Ordinary Share IE00BDT5KP12 ORD SHS EUR0.01 (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 1.00 0.97 1.03 1.00 1.00 1.00 0.00 08:00:20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 11.4 7.0 6.3 15.9 125

Yew Grove REIT PLC 25 May 2021 EGM Voting Results -- Update Statement

23/09/2021 7:00am

UK Regulatory (RNS & others)

Yew Grove Reit (LSE:YEW)
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RNS Number : 6788M

Yew Grove REIT PLC

23 September 2021

Yew Grove REIT plc

(the "Company" or "Yew Grove")

25 May 2021 EGM Voting Results - Update Statement

Yew Grove REIT plc, the AIM and Euronext Dublin listed regional Irish commercial property investor, provides an update in relation to the votes cast at the Company's extraordinary general meeting held on 25 May 2021 (the "EGM").

At the EGM, 20.40 per cent of votes were cast against the two resolutions proposed, which were (i) to grant authority to the Directors to allot and issue up to a maximum of 100 million new shares pursuant to the share issuance programme and (ii) to disapply pre-emption rights in respect of the allotment and issue of such number of new shares.

In the announcement released immediately following the EGM, the Board outlined the actions that it intended to take to engage with shareholders and an update is provided below.

While both resolutions proposed at the EGM were passed with the necessary majority, the Board is aware that certain institutional shareholders have a policy of not supporting this level of authority for the Directors to issue shares. The Company has further engaged with those shareholders that voted against the resolutions to ascertain the amount of shares that they believe are appropriate to be issued, given the Company's circumstances, and has received strong support from the majority of those shareholders for the levels granted following the passing of the EGM resolutions.

Therefore, following these consultations the Board still considers the flexibility afforded by these authorities to be in the best interests of the Company and its shareholders as the Company seeks to grow its portfolio of Irish commercial property assets.

The Board remains committed to continuing its policy of maintaining an open and transparent dialogue with all shareholders.


 Yew Grove REIT plc                           +353 1 485 3950 
 Jonathan Laredo, Chief Executive Officer 
 Charles Peach, Chief Financial Officer 
 Michael Gibbons, Chief Investment Officer 
 Goodbody Stockbrokers UC                     +353 1 667 0400 
 Joint Broker & Irish Sponsor 
 David Kearney, John Flynn, Edel O'Reilly 
 Liberum Capital Limited 
 Joint Broker & Nomad                         +44 20 3100 2000 
 Richard Crawley, Jamie Richards 
 IFC Advisory                                 +44 203 934 6630 
 Financial PR                                 yewgrovereit@investor-focus.co.uk 
 Tim Metcalfe, Graham Herring, Florence 

Forward-looking Statements

Certain information contained in this announcement may constitute forward looking information. This information relates to future events or occurrences or the Company's future performance. All information other than information of historical fact is forward looking information. The use of any of the words "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", "predict" and "potential" and similar expressions are intended to identify forward looking information. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. No assurance can be given that this information will prove to be correct and such forward looking information included in this announcement should not be relied upon. Forward-looking information speaks only as of the date of this announcement. The forward-looking information included in this announcement is expressly qualified by this cautionary statement and is made as of the date of this announcement. The Company and its Group does not undertake any obligation to publicly update or revise any forward-looking information except as required by applicable securities laws.

Notes to editors

Yew Grove REIT plc, quoted on the London Stock Exchange's AIM market and on the regulated market of Euronext Dublin, is an Irish commercial real estate company invested in a diversified portfolio of Irish commercial property. Yew Grove has a particular focus on well-tenanted commercial real estate assets comprising of office and industrial assets outside of Dublin's Central Business District.

Yew Grove's highly experienced team has a proven track record in commercial property investment and asset management in Ireland and internationally and is focused on delivering results. Its investment approach is strategic, not speculative, principally on assets that are let, pre-let or to be let after refurbishment. Shareholders are provided with stable, long-term income from a diverse portfolio of commercial property comprising well-tenanted real estate in strategic centres let to Irish government entities and other state bodies, IDA Ireland supported and other FDI companies, and larger corporates.

More information can be found of the Company's website at: https://www.ygreit.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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(END) Dow Jones Newswires

September 23, 2021 02:00 ET (06:00 GMT)

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