Result of AGM

RNS Number : 6457S

LXI REIT PLC

26 June 2018

 

LXi REIT plc

(the "Company" or "LXi REIT")

RESULT OF ANNUAL GENERAL MEETING

The Board of LXi REIT plc (ticker: LXI), the specialist inflation-protected very long income REIT, is pleased to announce that all of the resolutions put forward at its Annual General Meeting held earlier today were passed. 

The text of all the resolutions can be found in the Notice of Meeting contained in the Company's Annual Report for the period from incorporation on 21 December 2016 to 31 March 2018.

The proxy votes received were as follows:-

Resolution	In favour	Percentage In favour	Against	Percentage Against	Withheld
1	67,972,120	100.00	0	0.00	0
2	67,965,120	99.99	7,000	0.01	0
3	67,965,120	99.99	7,000	0.01	0
4	67,896,409	99.89	75,710	0.11	0
5	67,927,734	99.93	44,386	0.07	0
6	67,927,734	99.93	44,386	0.07	0
7	67,795,338	99.74	176,781	0.26	0
8	67,915,705	99.97	21,090	0.03	35,324
9	67,967,120	99.99	1,000	0.01	4,000
10	67,972,120	100.00	0	0.00	0
11	67,963,045	99.99	9,075	0.01	0
12	67,960,045	99.98	12,075	0.02	0
13	60,990,888	89.73	6,977,231	10.27	4,000
14	67,822,979	99.78	149,141	0.22	0

At the time of the above meeting, the Company's issued share capital consisted of 196,881,707 ordinary shares. The Company held no shares in treasury.  Therefore, the total number of ordinary shares with voting rights was 196,881,707.

26 June 2018

FOR FURTHER INFORMATION, PLEASE CONTACT:

LXI REIT Advisors Limited John White (Partner, Fund Manager) Simon Lee (Partner, Fund Manager)	Via Newgate Communications
Peel Hunt LLP Luke Simpson	Tel: [phone]
Newgate Communications (PR Adviser) James Benjamin Anna Geffert Patrick Hanrahan	Tel: [phone] Email: [e-mail]

The Company's LEI is: 2138008YZGXOKAXQVI45

NOTES:

The Company invests in UK commercial property assets let, or pre-let, on very long (typically 20 to 30 years to expiry or first break), inflation-linked leases to a wide range of strong tenant covenants across a diverse range of property sectors.

The Company may invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. The Company will not undertake any direct development activity nor assume direct development risk.

The Company is targeting an annual dividend of 5.5 pence per ordinary share, starting from the financial period commencing 1 April 2018, with the potential to grow the dividend in absolute terms through upward-only inflation-protected long-term lease agreements, and is targeting a net total shareholder return of a minimum of 8 per cent. plus per annum over the medium term.*

The Company, a real estate investment trust ("REIT") incorporated in England and Wales, is listed on the premium listing segment of the Official List of the UK Listing Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017. The Company is a constituent of the FTSE EPRA/NAREIT index.

Further information on the Company is available at www.lxireit.com

* These are targets only and not a profit forecast and there can be no assurance that they will be met. 

 

END

 

 

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