Result of EGM

RNS Number : 4332F

Ground Rents Income Fund PLC

23 May 2013

Ground Rents Income Fund plc

Result of EGM and Admission of Convertible Preference Shares

Ground Rents Income Fund plc ("GRIF" or "the Company"), a listed real estate investment trust (REIT) investing in UK ground rents, announces that at its General Meeting held earlier today, the resolutions as set out in the circular sent to shareholders on 3 May 2013 in connection with the Placing of Convertible Preference Shares in the Company were duly passed.

Admission to listing on the Official List of the Channel Islands Stock Exchange and to trading on the SETSqx platform of the London Stock Exchange of the 38,550,000 Convertible Preference Shares issued pursuant to the Placing is expected at 8.00a.m. tomorrow.

The Convertible Preference Shares will be entitled to a fixed cumulative preferential dividend at an annual rate of 2 per cent., payable quarterly. The Convertible Preference Shares will convert into Ordinary Shares at a ratio based on the Net Asset Value per Convertible Preference Share and the Net Asset Value per Ordinary Share which will be calculated upon the earlier of: (a) 12 months after Admission; and (b) once 90 per cent. of the subscription monies attributable to the Placing have been invested or committed to be invested.

Following Admission, the Company will have in issue:

· 48,242,300 Ordinary Shares trading under the ticker GRIO

· 9,648,460 Warrants trading under the ticker GRIW

· 38,550,000 Convertible Preference Shares trading under the ticker GRIP.

Despatch of definitive share certificates (if applicable) in respect of Convertible Preference Shares to be held in certificated form is expected in the week commencing 10 June 2013.

Contacts:

Brooks Macdonald Funds Limited Simon Wombwell / James Agar	020 7499 6424
N+1 Singer James Maxwell / Jenny Wyllie - Corporate Finance Alan Geeves / Sam Greatrex - Sales	020 7496 3000
Appleby Securities (Channel Islands) Limited Helen Crossley / Gemma Campbell	01481 755600
MHP Communications Reg Hoare / Barnaby Fry / Simon Hockridge / Giles Robinson	0203 128 8100