Picton Property Income Ltd - Result of AGM

  • Oops!
    Something went wrong.
    Please try again later.
·3-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

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

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting