Last checked at 19 Sep 2008 15:23
19 September 2008
Capital & Regional plc
Result of EGM relating to the proposed German joint venture with Apollo
On 19 August 2008, Capital & Regional plc ("C&R") announced the exchange of contracts with an investment fund managed by Apollo Real Estate Advisers ("Apollo") in respect of the formation of a joint venture for its German portfolio (the "Proposed Joint Venture"). Under the terms of the Proposed Joint Venture Apollo will acquire approximately half of C&R's equity investment in the German portfolio for a cash consideration of EUR65.6m. The parties will also together buy out the majority of the equity interest that the Hahn Group holds in part of the German portfolio for EUR11.9m in cash.
C&R announces that earlier today, at an Extraordinary General Meeting of the Company, the ordinary resolution approving the formation of the Proposed Joint Venture, details of which are described in the circular to shareholders dated 4 September 2008 (the "Circular"), was duly passed.
Completion of the Proposed Disposal is expected to take place on or around 6 October 2008.
Two copies of the ordinary resolution passed at the Extraordinary General Meeting shall be submitted to the Financial Services Authority (the "FSA") today and will be available for inspection at the FSA Document Viewing Facility from tomorrow, which is situated at:
The Financial Services Authority
25 The North
Colonnade
Canary Wharf
London
E14 5HS
Tel: 020 7066 1000
Details of proxy voting instructions lodged prior to the Extraordinary General Meeting are set out below:
| Resolution | For | Discretion | Against | Withheld | Total |
| To approve the Proposed Joint Venture | 39,735,554 | 100 | 0 | 455,207 | 40,190,861 |
Note to the disclosure:
1. Where shareholders have appointed the Chairman of the meeting as their proxy with discretion as to voting those votes have been cast in favour of all of the resolutions.
For Further Information
Falguni Desai + 44 (0) 20 7932 8000
Company Secretary