PR Newswire
London, November 17
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
