The Local Shopping REIT plc
Requisition of a general meeting
The Board of The Local Shopping REIT plc ("the Company") announces that following close of business yesterday evening (9 November 2016) a requisition notice, the contents of which are set out below, was received from Pershing Nominees Limited. Thalassa Holdings Ltd is the beneficial owner of 23.48% of the Company's issued share capital, held on its behalf by Pershing Nominees Limited and another nominee company.
The Company will respond and issue a notice convening a general meeting in due course in accordance with the Companies Act 2006. A statement received from Thalassa Holdings Ltd, which accompanied the requisition notice, will be circulated with the notice convening the general meeting.
Mr William A Heaney was today appointed a director of the Company in order to meet the requirements of article 96 of the Company's Articles of Association which requires the Company to have a minimum of three directors. This requirement was drawn to the Company's attention by Thalassa Holdings Ltd. Mr Heaney has agreed to resign as a director in the event that the resolutions proposed by Pershing Nominees Limited are passed or in the event that a resolution is passed by the Company reducing the minimum number of directors from three to two. Such a resolution will be proposed at the above mentioned general meeting.
Mr Heaney is a non-executive director of New Frontier Properties Ltd, a company listed on the stock exchanges of Mauritius and Johannesburg.
Save for the directorship listed above, there is no information to disclose relating to Mr Heaney under Listing Rule 9.6.13R.
William A Heaney
Director and Company Secretary
020 7355 8800
Pershing Nominees Limited
The Royal Liver Building
Pier Head Liverpool L3 1LL
The Local Shopping REIT pie
65 Grosvenor Street
8 November 2016
THE LOCAL SHOPPING REIT PLC (THE "COMPANY")
REQUISITION OF MEMBERS PURSUANT TO SECTION 303 OF THE COMPANIES ACT 2006 (THE "ACT") AND REQUIREMENT TO CIRCULATE A STATEMENT TO MEMBERS PURSUANT TO SECTION 314 OF THE ACT
We, the undersigned, being a member of the Company holding at the date of the deposit of this requisition not less than 5% of such of the paid up capital of the Company as carries the right of voting at general meetings of the Company (excluding any paid-up capital held as treasury shares) (the "Requisitioning Member"), require you, pursuant to section 303 of the Act, immediately to proceed to convene a general meeting of the Company (the "General Meeting") for the purpose of considering the appointment and removal of directors of the Company and accordingly (if thought fit) passing the following resolutions:-
1. THAT Stephen East be and is hereby removed from the office of director of the Company with immediate effect.
2. THAT Nicholas Vetch be and is hereby removed from the office of director of the Company with immediate effect.
3. THAT Duncan Soukup, having indicated his willingness to act, be and is hereby appointed a director of the Company with immediate effect.
4. THAT John Hutchinson, having indicated his willingness to act, be and is hereby appointed a director of the Company with immediate effect.
5. THAT Toby Burgess, having indicated his willingness to act, be and is hereby appointed a director of the Company with immediate effect.
We the Requisitioning Member, also require you, pursuant to section 314 of the Act, to circulate the following statement with the notice of General Meeting:
Pershing Nominees Limited acting as nominee for Thalassa Holdings Ltd