Circle Property PLC Results of Extraordinary General Meeting (9078T)

TIDMCRC

RNS Number : 9078T

Circle Property PLC

22 March 2023

Circle Property Plc

("Circle" or the "Company")

Results of Extraordinary General Meeting

Circle Property plc (AIM: CRC), is pleased to announce that all three of the resolutions ("Resolutions") put to shareholders at the Company's Extraordinary General Meeting held today were duly passed.

All the Resolutions were proposed as special resolutions and all votes were by poll vote where proxies were cast.

The votes received in respect of each of the Resolutions were as follows:

 
 Resolution                                For         %     Against    % 
 1 - To approve the disposal 
  of Concorde Park, Maidenhead 
  ("Concorde Park") (the "Disposal")    16,317,494    100      40      0.00 
                                       -----------  ------  --------  ----- 
 2 - To approve the future 
  (but not yet agreed) sale 
  of 300 Pavilion Drive, Northampton 
  ("300 Pavilion Drive")                16,312,680   99.97    4,854    0.03 
                                       -----------  ------  --------  ----- 
 3 - Conditional upon Resolution 
  1 above, to approve the proposed 
  cancellation of the Company's 
  Ordinary Shares from trading 
  on AIM ("Cancellation")               16,298,814   99.89   18,720    0.11 
                                       -----------  ------  --------  -----

Following the passing of the Resolutions, the Company expects the Disposal and the disposal of Victory House, 400 Pavilion Drive, Northampton ("Victory House") to complete by the end of March 2023, following which the Company expects to make a second Return of Capital in April 2023 through a B Share Issue.

As previously announced, given that the Board wishes to complete the Returns of Capital whilst the Ordinary Shares remain traded on AIM (although noting that this is dependent on the timing of any sale of 300 Pavilion Drive and the Board keeping this under review noting the costs associated with maintaining a quotation on AIM), the definitive timetable in relation to Cancellation is dependent on timing of the receipt of completion monies from disposals and the timing of the proposed Returns of Capital to Shareholders. Assuming completion of the Disposal, the disposal of Victory House and Returns of Capital in March and April 2023, it is expected that Cancellation will occur in May 2023. Further announcements will be made, as appropriate.

Enquiries:

 
                           +44 (0)20 7930 
 Circle Property Plc        8503 
 John Arnold, CEO 
  Edward Olins, COO 
 
                          +44 (0)20 7397 
 Cenkos Securities plc     8900 
 Katy Birkin 
  George Lawson 
 
  Radnor Capital 
  Joshua Cryer              +44 (0)20 3897 
  Iain Daly                 1830 
                          +44 (0)20 3757 
 Camarco                   4980 
 Ginny Pulbrook 
  Toby Strong

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END

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March 22, 2023 12:15 ET (16:15 GMT)

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