12 November 2024
Alternative Income REIT plc
(the "Company" or "Group")
RESULT OF ANNUAL GENERAL MEETING
The Board of Alternative Income REIT PLC is pleased to announce that at the Company's Annual General Meeting held today, all resolutions were passed on a show of hands.
Resolutions 1 to 10 (inclusive) were proposed as ordinary resolutions and resolutions 11 to 14 (inclusive) were proposed as special resolutions. The proxy votes received prior to the meeting were as follows:
| Resolution | Votes For* | % | Votes Against | % | Total votes validly cast | Total votes cast as % of issued share capital | Votes Withheld** | |
| 1 | To receive and adopt the audited financial statements of the Company for the financial year ended 30 June 2024 | 28,662,078 | 99.97 | 7,225 | 0.03 | 28,669,303 | 35.61 | 37,794 |
| 2 | To approve the Directors' Remuneration Report | 28,253,883 | 98.73 | 364,766 | 1.27 | 28,618,649 | 35.55 | 88,448 |
| 3 | To re-elect Simon Bennett as a director | 28,573,746 | 99.73 | 77,557 | 0.27 | 28,651,303 | 35.59 | 55,794 |
| 4 | To re-elect Stephanie Eastment as a director | 28,606,746 | 99.84 | 44,557 | 0.16 | 28,651,303 | 35.59 | 55,794 |
| 5 | To re-elect Adam Smith as a director | 27,825,746 | 97.12 | 825,557 | 2.88 | 28,651,303 | 35.59 | 55,794 |
| 6 | To re-appoint Moore Kingston Smith LLP as independent auditor of the Company | 28,608,964 | 99.84 | 46,177 | 0.16 | 28,655,141 | 35.60 | 51,956 |
| 7 | To authorise the Audit Committee to determine the auditor's remuneration | 28,659,653 | 99.97 | 9,650 | 0.03 | 28,669,303 | 35.61 | 37,794 |
| 8 | To approve the Company's dividend policy | 28,657,453 | 99.95 | 13,259 | 0.05 | 28,670,712 | 35.62 | 36,385 |
| 9 | To authorise the directors to allot shares | 28,543,663 | 99.60 | 113,224 | 0.40 | 28,656,887 | 35.60 | 50,210 |
| 10 | To approve the new investment policy of the Company | 28,347,773 | 98.99 | 290,114 | 1.01 | 28,637,887 | 35.58 | 69,210 |
| 11 | To authorise the disapplication of pre-emption rights up to 10% | 28,288,256 | 98.75 | 359,186 | 1.25 | 28,647,442 | 35.59 | 59,655 |
| 12 | To authorise the disapplication of pre-emption rights up to a further 10% in connection with an acquisition or specified capital investments | 28,378,726 | 99.09 | 261,716 | 0.91 | 28,640,442 | 35.58 | 66,655 |
| 13 | To authorise the Company to purchase its own shares | 28,351,600 | 98.92 | 308,112 | 1.08 | 28,659,712 | 35.60 | 47,385 |
| 14 | To authorise the calling of general meetings, other than an annual general meeting, on not less than 14 clear days' notice | 28,047,801 | 97.87 | 610,502 | 2.13 | 28,658,303 | 35.60 | 48,794 |
* Any discretionary votes have been included in the "For" totals.
**A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution.
Every shareholder has one vote for every Ordinary Share held. As at 12 November 2024, the share capital of the Company consisted of 80,500,000 Ordinary Shares of £0.01 each with voting rights. The Company does not hold any shares in Treasury.
The full text of all the resolutions can be found in the Notice of Annual General Meeting dated 8 October 2024, a copy of which is available on the Company's website at https://www.alternativeincomereit.com/investors/reporting-centre/
In accordance with Listing Rule 6.4.2 copies of all the resolutions passed, other than ordinary business, will be submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
ENQUIRIES
| Alternative Income REIT PLC | |
| Simon Bennett - Chair
| via H/Advisors Maitland below |
| | |
| Martley Capital Real Estate Investment Management Ltd Richard Croft Jane Blore | 020 4551 1240 |
| | |
| Panmure Liberum Limited | 020 3100 2000 |
| Alex Collins | |
| Tom Scrivens
| |
| | |
| H/Advisors Maitland (Communications Advisor) | 07747 113 930 / 020 7379 5151 |
| James Benjamin Rachel Cohen Billy Moran | aire-maitland@h-advisors.global |
The Company's LEI is 213800MPBIJS12Q88F71.
Further information on Alternative Income REIT PLC is available at www.alternativeincomereit.com1.
1 Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website or any other website, is incorporated into, or forms part of, this announcement nor, unless previously published on a Regulatory Information Service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.
NOTES
Alternative Income REIT PLC aims to generate a sustainable, secure and attractive income return for shareholders from a diversified portfolio of UK property investments, predominately in alternative and specialist sectors. The majority of the assets in the Group's portfolio are let on long leases which contain index linked rent review provisions.
The Company's asset manager is Martley Capital Real Estate Investment Management Limited ("Martley Capital"). Martley Capital is a full-service real estate investment management platform whose activities cover real estate investing, lending, asset management and fund management. It has over 40 employees across five offices in the UK and Europe. The team manages assets with a value of circa £900m across 19 mandates (at 30 September 2024).
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