Cust Prop Inc Regulatory News (CREI)

21 November 2023

Custodian Property Income REIT plc

(“Custodian Property Income REIT” or “the Company”)

Results of General Meeting

Custodian Property Income REIT (LSE: CREI), which seeks to deliver an enhanced income return by investing in a diversified portfolio of smaller, regional properties with strong income characteristics across the UK, is pleased to announce that following a General Meeting (“GM”) of the Company held earlier today, the resolution was approved on a poll. 

The Company’s Articles require that, at every seventh Annual General Meeting (“AGM”), a Continuation Resolution be proposed. The first Continuation Resolution should have been proposed at the 2020 AGM but this was not brought to the attention of the Board and, as a result, a Continuation Resolution was not proposed. The Company has been advised that, as this oversight constituted a breach of the Articles, the Company should seek Shareholder approval to ratify this. Accordingly, the Resolution passed at this GM released the Company and its directors from their historical obligation to propose a Continuation Vote at the 2020 AGM and ratified this breach of the Articles.

The Continuation Resolution was overlooked during a period of strong performance by the Company relative to its peers and amidst the COVID-19 pandemic. Shareholders were not pressing for such a resolution at that time and the Board is not aware of any desire for a Continuation Resolution to be considered at this stage either. As a result, the Board did not propose a replacement Continuation Resolution at this GM. The next Continuation Resolution will be proposed at the fourteenth AGM of the Company expected to be held in 2027.

A summary of the results of the poll are set out below:

\* Turnout, based on total issued share capital (the “ISC”) as at 21 November 2023.

*\* The percentage of votes cast for and against excludes withheld votes.

- Ends -

Further information:

Further information regarding the Company can be found at the Company's website custodianreit.com or please contact:

Notes to Editors

Custodian Property Income REIT plc is a UK real estate investment trust, which listed on the main market of the London Stock Exchange on 26 March 2014. Its portfolio comprises properties predominantly let to institutional grade tenants on long leases throughout the UK and is principally characterised by smaller, regional, core/core-plus properties.

The Company offers investors the opportunity to access a diversified portfolio of UK commercial real estate through a closed-ended fund. By principally targeting smaller, regional, core/core-plus properties, the Company seeks to provide investors with an attractive level of income with the potential for capital growth.

Custodian Capital Limited is the discretionary investment manager of the Company.

For more information visit custodianreit.com and custodiancapital.com.