10 Aug 2021 15:48
10 August 2021
Circle Property Plc
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("Circle" or the "Company")
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Result of Annual General Meeting
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Circle Property Plc (AIM: CRC), which invests in, develops and actively manages well-located regional office assets, is pleased to announce that all resolutions put to shareholders at the Company's Annual General Meeting held today were duly passed.
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 The total votes were cast as follows:
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Resolution | For | % | Against | % |
1 | 12,840,953 | 100.00 | 0 | 0.00 |
2 | 12,840,953 | 100.00 | 0 | 0.00 |
3 | 12,840,810 | 100.00 | 143 | 0.00 |
4 | 12,840,913 | 100.00 | 40 | 0.00 |
5 | 12,835,477 | 99.96 | 5,476 | 0.04 |
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Following the passing of the resolutions, inter alia, a final dividend of 4p per share will be paid on 13 August 2021 to shareholders on the register on 16 July 2021.
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Circle Property Plc | Â +44 (0)20 7930 8503 |
John Arnold, CEO Edward Olins, COO | |
Cenkos Securities plc | +44 (0)20 7397 8900 |
Katy Birkin Mark Connelly  Radnor Capital Joshua Cryer Iain Daly  |    +44 (0)20 3897 1830 |
Camarco | +44 (0)20 3757 4980 |
Ginny Pulbrook Toby Strong |
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About Circle Property Plc
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Circle is amongst the best performing quoted UK real estate companies having delivered 85% NAV growth and a 105% total return (NAV growth and dividends) since IPO in 2016.
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Circle focusses on acquiring assets in regional cities, many of which have significant office supply constraints, and on office assets with active management potential (refurbishment opportunities, under-rented or vacant properties or short leases), rather than just maximising initial rental yields.
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Circle is not a Real Estate Investment Trust (REIT) and can actively recycle proceeds from asset sales into its refurbishment and redevelopment pipeline, as well as future investment opportunities, therefore targeting a broader range of returns for shareholders, which are primarily driven by NAV growth.
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As well as already delivering substantial increases in NAV, the Company's portfolio has significant reversionary potential with current total estimated rental values of £10.92 million per annum, compared to contracted rent of £8.70 million at 31 March 2021. The Company has a portfolio of 13 regional commercial property investment and development assets in the UK valued at £132.15 million as at 31 March 2021.
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* valuation figures stated after deducting the value of Power House, Davy Avenue, Milton Keynes (being £3.3 million as at 31 March 2020 and £3.25 million as at 30 September 2020) which was sold by the Company for £3.55 million in March 2021.
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