31 Jan 2017 12:55
GCP STUDENT LIVING PLC - Result of General MeetingGCP STUDENT LIVING PLC - Result of General Meeting
PR Newswire
London, January 31
GCP STUDENT LIVING PLC(the “Company”)
Result of General Meeting
On 6 January 2017, the Board of Directors of the Company published a circular with recommended proposals to grant the Directors authority to allot and to disapply pre-emption rights in respect of 200 million ordinary shares of one pence each in the capital of the Company (“Shares”) in connection with a share issuance programme (the “2017 Share Issuance Programme”).
The Company is pleased to announce that, at the General Meeting held today, all resolutions were passed on a show of hands.
Resolution 1 (ordinary resolution): to allot up to 200 million Shares pursuant to the 2017 Share Issuance Programme in accordance with section 551 of the Companies Act 2006.
Resolution 2 (special resolution): to authorise the Directors to allot Shares for cash pursuant to section 570 of the Companies Act 2006 otherwise than in accordance with statutory pre-emption rights.
The proxy votes received in relation to these resolutions were as follows:
| Resolutions | Votes For | Votes Against | Votes at Chairman’s Discretion | Votes Withheld |
| Resolution 1 | 104,572,919 | 494,724 | 750,519 | 1,705,654 |
| Resolution 2 | 104,571,738 | 494,724 | 751,700 | 1,705,654 |
A copy of the resolutions has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM
31 January 2017
For further information please contact:
Gravis Capital Partners LLP
Tom Ward tom.ward@gcpuk.com 020 7518 1490Nick Barker nick.barker@gcpuk.com Dion Di Miceli dion.dimiceli@gcpuk.com
Stifel Nicolaus Europe Limited
Neil Winward neil.winward@stifel.com 020 7710 7600Mark Young mark.young@stifel.com Tom Yeadon tom.yeadon@stifel.com
About GCP Student Living plc
The Company was the first student accommodation REIT in the UK, investing in modern, purpose?built, private student residential accommodation and teaching facilities. Its investments are located primarily in and around London where the Investment Manager believes the Company is likely to benefit from supply and demand imbalances for student residential accommodation.
The Group has an estimated total asset value of c.£530 million including six standing assets, providing c.2,000 modern studios and beds, and one forward-funded development asset which will provide a further c.580 beds on completion.
The Investment Manager is currently reviewing and conducting due diligence on assets in the Company’s core markets totalling c.2,800 beds and in respect of which c.980 beds in and around London are under future contractual arrangements. The Company's standing assets are primarily occupied by international students and offer high specification facilities and hotel-level concierge type services which the Investment Manager believes are attractive to overseas students.