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Picton Property Income Ltd - Result of AGM

Picton Property Income Ltd - Result of AGM

PR Newswire

17 November 2021

PICTON PROPERTY INCOME LIMITED

(“Picton”, the “Company” or the “Group”)

LEI: 213800RYE59K9CKR4497

RESULT OF ANNUAL GENERAL MEETING

At the Annual General Meeting of the Company held today, all Ordinary and Special Business Resolutions set out in the Annual General Meeting Notice sent to Shareholders dated 15 October 2021 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
1 336,175,163 97.45 1,390 0.01 8,786,916 2.55 667,058
2 336,452,577 97.42 1,390 0.01 8,892,017 2.57 284,543
3 345,291,419 99.98 2,561 0.01 52,790 0.02 283,757
4 343,396,931 99.44 1,390 0.01 1,944,501 0.56 287,705
5 337,866,362 97.84 1,090 0.01 7,472,776 2.16 290,299
6 344,549,536 99.77 1,390 0.01 791,896 0.23 287,705
7 344,649,937 99.80 1,390 0.01 691,495 0.20 287,705
8 344,582,223 99.78 1,390 0.01 756,615 0.22 290,299
9 344,514,959 99.76 1,090 0.01 828,127 0.24 286,351
10 246,927,948 72.17 1,090 0.01 95,213,590 27.83 3,487,899
11 333,280,593 96.51 1,090 0.01 12,044,009 3.49 304,835
Special Resolution For % Discretion
(voted in favour)
% Against % Abstain
12 336,335,696 97.42 2,090 0.01 8,920,782 2.58 371,959
13 334,147,883 96.76 2,390 0.01 11,185,992 3.24 294,262
14 318,338,455 92.18 2,390 0.01 26,990,344 7.82 299,338

The Board is pleased to note that all resolutions were passed with the requisite majority of votes and welcomes the support of the Company´s shareholders.

The Board notes that while Resolution 11 - To receive and adopt the Directors’ Remuneration Policy, had near unanimous support, Resolution 10 - To receive and adopt the Directors’ Remuneration Report for the year ended 31 March 2021, had lower overall support.

The Remuneration Committee gave careful consideration to executive remuneration during 2021 and sought external input including a consultation with larger shareholders, proxy agencies and other stakeholders prior to making its executive director pay proposal and devising the new Remuneration Policy.  

It is therefore disappointing that that a minority of shareholders were unable to support this resolution.  As the Company values an open and transparent dialogue with shareholders, it will continue to engage with them to ensure their views are understood. 

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

The Company Secretary
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
 
Tel: 01481 745001
 

Note to Editors

Picton, established in 2005, is a UK REIT. It owns and actively manages a £745 million diversified UK commercial property portfolio, invested across 46 assets and with around 350 occupiers (as at 30 September 2021). Through an occupier focused, opportunity led approach to asset management, Picton aims to be one of the consistently best performing diversified UK focused property companies listed on the main market of the London Stock Exchange.

For more information please visit: www.picton.co.uk

ENDS