Yew Grove REIT PLC 25 May 2021 EGM Voting Results -- Update Statement (6788M)
September 23 2021 - 1:00AM
UK Regulatory
TIDMYEW
RNS Number : 6788M
Yew Grove REIT PLC
23 September 2021
Yew Grove REIT plc
(the "Company" or "Yew Grove")
25 May 2021 EGM Voting Results - Update Statement
Yew Grove REIT plc, the AIM and Euronext Dublin listed regional
Irish commercial property investor, provides an update in relation
to the votes cast at the Company's extraordinary general meeting
held on 25 May 2021 (the "EGM").
At the EGM, 20.40 per cent of votes were cast against the two
resolutions proposed, which were (i) to grant authority to the
Directors to allot and issue up to a maximum of 100 million new
shares pursuant to the share issuance programme and (ii) to
disapply pre-emption rights in respect of the allotment and issue
of such number of new shares.
In the announcement released immediately following the EGM, the
Board outlined the actions that it intended to take to engage with
shareholders and an update is provided below.
While both resolutions proposed at the EGM were passed with the
necessary majority, the Board is aware that certain institutional
shareholders have a policy of not supporting this level of
authority for the Directors to issue shares. The Company has
further engaged with those shareholders that voted against the
resolutions to ascertain the amount of shares that they believe are
appropriate to be issued, given the Company's circumstances, and
has received strong support from the majority of those shareholders
for the levels granted following the passing of the EGM
resolutions.
Therefore, following these consultations the Board still
considers the flexibility afforded by these authorities to be in
the best interests of the Company and its shareholders as the
Company seeks to grow its portfolio of Irish commercial property
assets.
The Board remains committed to continuing its policy of
maintaining an open and transparent dialogue with all
shareholders.
Enquiries:
Yew Grove REIT plc +353 1 485 3950
Jonathan Laredo, Chief Executive Officer
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Charles Peach, Chief Financial Officer
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Michael Gibbons, Chief Investment Officer
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Goodbody Stockbrokers UC +353 1 667 0400
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Joint Broker & Irish Sponsor
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David Kearney, John Flynn, Edel O'Reilly
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Liberum Capital Limited
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Joint Broker & Nomad +44 20 3100 2000
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Richard Crawley, Jamie Richards
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IFC Advisory +44 203 934 6630
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Financial PR yewgrovereit@investor-focus.co.uk
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Tim Metcalfe, Graham Herring, Florence
Chandler
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Forward-looking Statements
Certain information contained in this announcement may
constitute forward looking information. This information relates to
future events or occurrences or the Company's future performance.
All information other than information of historical fact is
forward looking information. The use of any of the words
"anticipate", "plan", "continue", "estimate", "expect", "may",
"will", "project", "should", "believe", "predict" and "potential"
and similar expressions are intended to identify forward looking
information. This information involves known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking information. No assurance can be given that this
information will prove to be correct and such forward looking
information included in this announcement should not be relied
upon. Forward-looking information speaks only as of the date of
this announcement. The forward-looking information included in this
announcement is expressly qualified by this cautionary statement
and is made as of the date of this announcement. The Company and
its Group does not undertake any obligation to publicly update or
revise any forward-looking information except as required by
applicable securities laws.
Notes to editors
Yew Grove REIT plc, quoted on the London Stock Exchange's AIM
market and on the regulated market of Euronext Dublin, is an Irish
commercial real estate company invested in a diversified portfolio
of Irish commercial property. Yew Grove has a particular focus on
well-tenanted commercial real estate assets comprising of office
and industrial assets outside of Dublin's Central Business
District.
Yew Grove's highly experienced team has a proven track record in
commercial property investment and asset management in Ireland and
internationally and is focused on delivering results. Its
investment approach is strategic, not speculative, principally on
assets that are let, pre-let or to be let after refurbishment.
Shareholders are provided with stable, long-term income from a
diverse portfolio of commercial property comprising well-tenanted
real estate in strategic centres let to Irish government entities
and other state bodies, IDA Ireland supported and other FDI
companies, and larger corporates.
More information can be found of the Company's website at:
https://www.ygreit.com
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END
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