Result of General Meeting

RNS Number : 0462Q

PRS REIT PLC (The)

23 February 2021

 

23 February 2021

PRSR.L

The PRS REIT plc

("the Company" or "the PRS REIT")

Result of General Meeting and Transfer of Ordinary Shares

to the Premium Listing Segment of the Official List

The PRS REIT, the closed-ended real estate investment trust that invests in high-quality, new build, family homes in the private rented sector ("PRS"), is pleased to announce that the Ordinary Resolution to adopt a revised investment objective and policy, as set out in the Notice of General Meeting of the Company dated 1 February 2021, was passed without amendment by the requisite majority at a General Meeting of the Company's shareholders held earlier today.

Ordinary Resolution

That the proposed revised investment objective and policy set out in the Notice of General Meeting of the Company dated 1 February 2021 be adopted as the investment objective and policy of the Company to the exclusion of all previous investment objectives and policies of the Company.

Votes cast over which the Chairman had been appointed as proxy were as follows: 

Resolution	Votes in favour	Percentage in favour	Votes against	Percentage against	Withheld*	Total votes cast (excluding withheld)
1 - Ordinary Resolution to adopt the revised investment objective and policy	349,656,991	99.62	1,344,797	0.38	10,900,446	351,001,788

 
*A vote withheld is not a vote in law and is therefore not counted towards the proportion of votes "for" or "against" the Resolution.

Further to the announcement of 11 January 2021, the PRS REIT is also pleased to announce that applications will shortly be made to the Financial Conduct Authority ("FCA") for its entire issued share capital, being 495,277,294 ordinary shares ("Ordinary Shares"), to be admitted to the Premium listing segment of the Official List of the FCA ("Official List") and to the London Stock Exchange plc for its Ordinary Shares to be admitted to trading on the Premium segment of the Main Market ("Admission"). Admission is expected to become effective at 8:00am on 2 March 2021, or shortly thereafter.

The Board believes that the Company's transfer from the Specialist Fund Segment to the Premium segment of the Main Market of the London Stock Exchange and the admission to the Premium listing segment of the Official List ("Migration") will, inter alia, broaden the Company's share register and facilitate its eligibility for inclusion in FTSE's EPRA and UK Index Series.

N+1 Singer is acting as Sponsor for the Company in connection with the Migration. 

For further information, please contact:

The PRS REIT plc Steve Smith, Non-executive Chairman	Tel: [phone] (c/o KTZ Communications)
Sigma PRS Management Limited Graham Barnet, Mike McGill	Tel: [phone]
KTZ Communications Katie Tzouliadis, Dan Mahoney	Tel: [phone]
N+1 Singer  James Maxwell, James Moat, Sebastian Burke	Tel: [phone]
Panmure Gordon (UK) Limited Chloe Ponsonby (Corporate Broking), Alex Collins (Corporate Finance)	Tel: [phone]
G10 Capital Limited (part of the IQEQ Group as AIFM) Paul Turner	Tel: [phone]

NOTES TO EDITORS

About The PRS REIT plc
www.theprsreit.com  

The PRS REIT plc is a closed-ended real estate investment trust established to invest in the Private Rented Sector and to provide shareholders with an attractive level of income together with the potential for capital and income growth. The Company is investing £0.9bn in a portfolio of high quality homes for private rental across the regions, having raised a total of £500m (gross) through its Initial Public Offering, on 31 May 2017, and a subsequent placing in February 2018. Both fundraisings were supported by the UK Government's Homes England with direct investments. 

LEI:  21380037Q91HU97WZX58

About Sigma Capital Group plc
www.sigmacapital.co.uk

Sigma Capital Group plc ("Sigma") is a PRS, residential development, and urban regeneration specialist, with offices in Edinburgh, Manchester and London. Sigma's principal focus is on the delivery of large scale housing schemes for the private rented sector. The Company has a well-established track record in assisting with property related regeneration projects in the public sector, acting as a bridge between the public and private sectors.

Sigma has created an unrivalled PRS platform, which sources sites and brings together construction resource to develop them, enabling Sigma to deliver an integrated solution to partners. As well as sourcing sites and managing all stages of the planning and development process, Sigma also manages the rental of completed homes through its award-winning rental brand, 'Simple Life'.

The Company's subsidiary, Sigma PRS Management Limited, is Investment Adviser to The PRS REIT plc. In September 2020, the Company launched a joint venture with EQT Real Estate, the real estate platform of global investment firm EQT to establish a £1bn portfolio of high quality, new-build homes for private rental in Greater London.

About Sigma PRS Management Limited

Sigma PRS Management Limited is a wholly-owned subsidiary of AIM-quoted Sigma Capital Group plc and is Investment Adviser to The PRS REIT plc. It sources investments and operationally manages the assets of The PRS REIT plc and advises the Alternative Investment Fund Manager ("AIFM") and The PRS REIT plc on a day-to-day basis in accordance with The PRS REIT plc's Investment Policy. The Investment Manager is G10 Capital Limited. Sigma PRS Management Ltd is an appointed representative of G10 Capital Limited, which is authorised and regulated by the Financial Conduct Authority (FRN:648953).

 

END

 

 

ROMSEAFSDEFSEIE