Ground Rents Income Fund PLC Result of Extraordinary General Meeting (2729X)
April 24 2023 - 12:30PM
UK Regulatory
TIDMGRIO
RNS Number : 2729X
Ground Rents Income Fund PLC
24 April 2023
Ground Rents Income Fund Plc
("the Company")
Results of Extraordinary General Meeting
On 24 April 2023 the Company held an Extraordinary General
Meeting ('EGM') to seek shareholders' approval for proposals
relating to the forthcoming Continuation Vote, amendments to the
Company's investment policy, and changes to Directors remuneration.
The background and rationale for the proposals were set out in a
shareholder circular that can be viewed on the Company's website
www.groundrentsincomefund.com .
Following strong support for these proposals at the EGM, Barry
Gilbertson, the Company's Chair, said:
"The EGM proposals followed an extensive shareholder
consultation where the Board and Manager set out how we are
committed to protecting shareholder investments and leaseholder
interests, set against the backdrop of a challenging regulatory
environment. The strong support for our proposals means we are now
well positioned to execute the strategy of improving the liquidity
of the underlying portfolio, continuing to support our leaseholders
by delivering best-in-class residential asset management, and
ultimately optimising value for our shareholders."
______________________________________________________________________________________________________________________________
Ground Rents Income Fund plc (the "Company") announces that a
poll was held on each of the resolutions proposed at the EGM on
Monday, 24 April 2023. All the resolutions passed. The results of
the poll are:
Resolution For % Against % Withheld Total
% of Voting
Capital
voted
(excluding
Withheld)
To amend the Company's
Articles of Association
to replace Article
135 as set out in
the Notice of Extraordinary
General Meeting (special
1 resolution) 69,322,005 99.98% 16,553 0.02% 21,809 72.48
----------------------------- ----------- ------- -------- ------ --------- -------------
To amend the investment
policy as set out
in Appendix 1 to the
Notice of Extraordinary
General Meeting (ordinary
2 resolution) 69,322,005 99.98% 16,553 0.02% 21,809 72.48
----------------------------- ----------- ------- -------- ------ --------- -------------
That the aggregate
amount of fees that
can be paid by
the Company to the
Directors for their
services as Directors
be increased to an
amount not exceeding
GBP200,000 per annum
3 (ordinary resolution) 69,248,368 99.94% 39,593 0.06% 72,406 72.43
----------------------------- ----------- ------- -------- ------ --------- -------------
Copies of these resolutions will be filed at Companies
House.
Shareholders were entitled to one vote per share. Votes withheld
are not a vote in law and were therefore not counted in the
calculation of the percentages of the votes cast for and against a
resolution. Where shareholders appointed the Chairman as their
proxy with discretion as to voting, their votes were cast in favour
of the resolutions, and their shares have been included in the
"votes for" column.
The total number of ordinary shares of 50p each in issue is
95,667,627. The total number of voting rights is: 95,667,627 .
A copy of the resolutions passed at the EGM will be available
for inspection on the Company's website at
http://www.groundrentsincomefund.com
As noted in previous announcements made by the Company, the
publication of the year end accounts to 30 September 2022 has been
delayed, with approval obtained from Companies House and The
International Stock Exchange ("TISE") to extend the filing and
publication date from 31 March 2023 to 30 June 2023. A further EGM
is therefore likely to be held prior to 30 June 2023 to approve the
accounts.
Furthermore, approval has also been received from TISE to extend
the filing date for the unaudited interim accounts for the six
months ended 31 March 2023 from 31 July 2023 to 31 October 2023,
with these accounts being made available earlier if possible.
Enquiries:
Matthew Riley
Schroder Investment Management Limited
020 7658 6596
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END
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