Balanced Commercial Property Trust
Limited
LEI
Number: 213800A2B1H4ULF3K397
(the
“Company”)
20 June
2024
RESULT
OF ANNUAL GENERAL MEETING
At the
Annual General Meeting of the Company held on 20 June 2024,
all resolutions set out in the notice of the Annual General Meeting
Notice, dated 26 April 2024 (the
"Notice"),
were duly passed.
Details of
the number of votes cast for, against and withheld in respect of
the resolutions, which were voted on by way of poll, are set out
below:
Ordinary
Resolution
|
For
|
%
|
Against
|
%
|
Withheld
|
1
|
415,568,528
|
99.35%
|
2,714,219
|
0.65%
|
912,395
|
2
|
410,362,879
|
97.97%
|
8,501,511
|
2.03%
|
330,752
|
3
|
418,752,285
|
99.95%
|
224,145
|
0.05%
|
218,712
|
4
|
415,158,739
|
99.09%
|
3,792,651
|
0.91%
|
243,752
|
5
|
238,074,744
|
96.30%
|
9,155,483
|
3.70%
|
171,964,915
|
6
|
414,658,964
|
98.97%
|
4,297,250
|
1.03%
|
238,928
|
7
|
415,262,955
|
99.12%
|
3,693,259
|
0.88%
|
238,928
|
8
|
415,988,949
|
99.30%
|
2,916,134
|
0.70%
|
290,059
|
9
|
418,123,625
|
99.82%
|
766,652
|
0.18%
|
304,865
|
10
|
418,355,625
|
99.89%
|
473,549
|
0.11%
|
365,968
|
11
|
416,032,630
|
99.27%
|
3,072,887
|
0.73%
|
89,625
|
Special
Resolution
|
For
|
%
|
Against
|
%
|
Withheld
|
12
|
415,662,447
|
99.22%
|
3,249,217
|
0.78%
|
283,478
|
13
|
391,090,179
|
93.58%
|
26,814,860
|
6.42%
|
1,290,103
|
Note - A vote withheld is not a vote in law and has not
been counted in the votes for and against a
resolution.
The full
text of the resolutions proposed at the Annual General Meeting can
be found in the Notice, which is available on the Company's website
(https://www.balancedcommercialproperty.co.uk).
A copy of the presentation used at the AGM, and proxy voting
results, will be available shortly on the Company's
website.
The
Special Resolutions were as follows:
Special
Resolution 12
THAT the
Directors of the Company be and they are hereby generally
empowered, to allot and issue ordinary shares in the Company or
grant rights to subscribe for, or to convert securities into,
ordinary shares in the Company (‘‘equity securities’’) for cash,
including by way of a sale of ordinary shares held by the Company
as treasury shares, as if any pre-emption rights in relation to the
issue of shares contained in Article 6.2 of the Company’s articles
of incorporation did not apply to any such allotment of equity
securities, provided that this power:
(a)
expires at
the conclusion of the next Annual General Meeting of the Company
after the passing of this resolution or on the expiry of 15 months
from the passing of this resolution, whichever is the earlier, save
that the Company may, before such expiry, make an offer or
agreement which would or might require equity securities to be
allotted after such expiry and the Directors may allot equity
securities in pursuance of any such offer or agreement as if the
power conferred hereby had not expired; and
(b)
shall be
limited to the allotment of equity securities up to an aggregate
nominal value of £701,550 being approximately 10 per cent of the
nominal value of the issued share capital of the Company (excluding
treasury shares), as at 25 April
2024.
Special
Resolution 13
THAT the
Company be authorised, in accordance with section 315 of The
Companies (Guernsey) Law 2008, to make market acquisitions (within
the meaning of section 316(1) of The Companies (Guernsey) Law 2008
of ordinary shares of 1p each (‘‘Ordinary Shares’’) (either for
retention as treasury shares for future resale or transfer, or
cancellation), provided that:
(a)
the
maximum number of Ordinary Shares hereby authorised to be purchased
shall be 14.99 per cent of the issued Ordinary Shares on the date
on which this resolution is passed;
(b)
the
minimum price which may be paid for an Ordinary Share shall be 1p
(exclusive of expenses);
(c)
the
maximum price (exclusive of expenses) which may be paid for an
Ordinary Share shall be the higher of (i) 105 per cent of the
average of the middle market quotations (as derived from the Daily
Official List) for the Ordinary Shares for the five business days
immediately preceding the date of purchase; and (ii) the higher of
the last independent trade and the highest current independent bid
on the trading venue which the purchase is carried out;
and
(d)
unless
previously varied, revoked or renewed, the authority hereby
conferred shall expire at the conclusion of the next Annual General
Meeting of the Company after the passing of this resolution, or on
the expiry of 18 months from the passing of this resolution,
whichever is the earlier, save that the Company may, prior to such
expiry, enter into a contract to purchase Ordinary Shares under
such authority which will or may be executed wholly or partly after
the expiration of such authority and may make a purchase of
Ordinary Shares pursuant to any such contract.
Enquiries:
Balanced
Commercial Property Trust Limited
|
via Buchanan
|
Paul
Marcuse (Chairman)
|
chairmanBCPT@georgeson.com
|
Buchanan
|
+44 (0)20
7466 5000
|
Helen
Tarbet / Henry Wilson / George Beale
|
BCPT@buchanancomms.co.uk
|
Tel: 01481
745001
END