Change of Investment Policy and EGM Notice

To:  RNS

Date:  6 August 2021

From:  BMO Real Estate Investments Limited

Publication of a circular and notice of general meeting

The board of directors of BMO Real Estate Investments Limited (the "Company") is pleased to announce that it has published a circular containing details of the proposed changes to the Company's investment policy and notice of a general meeting to be held on 9 September 2021.

The Board, together with the Company's investment manager, has recently undertaken a review of the Company's investment policy in the light of the current trends and outlook of the UK's commercial property market, the recent growth in value that has been experienced in the Company's industrial, logistics and distribution ('industrial') portfolio and the strategy of selling some of the assets in the retail portfolio to reduce exposure to this sector.

As a result of such growth, the Company may risk exceeding the maximum weighting of 50 per cent. to industrial property in the Company's existing investment policy. The Board is therefore of the view that these maximum weighting limits have become unduly restrictive and is proposing that they are removed from the Company's investment policy in order to ensure flexibility in managing the existing portfolio and to facilitate appropriate decision making in the future (the "Proposal"). The full text of the proposed new investment policy is set out in full in the circular.

The Listing Rules require any proposed material changes to the Company's published investment policy to be submitted to the FCA for prior approval. The FCA has approved the new investment policy. The Listing Rules also require the approval of shareholders prior to any material changes being made to the Company's published investment policy. The Proposal is therefore subject to shareholder approval at the general meeting to be held at 10.00 a.m. on 9 September 2021 at the offices of BMO Global Asset Management, Quartermile 4, 7a Nightingale Way, Edinburgh EH3 9EG.

Copies of the circular have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.data.fca.org.uk/#/nsm/nationalstoragemechanism or on the Company's website at www.bmorealestateinvestments.com.

Enquiries to:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court,
Les Banques,
St Peter Port
Guernsey GY1 3QL
Tel:  [phone]
Fax:  [phone]

P Lowe, S Macrae
BMO Investment Business Limited
Tel:  [phone]
Fax:  [phone]