AGM Statement

23 May 2007 13:03

Highcroft Investments PLC23 May 2007 The following replaces the AGM Statement released today at 12.05, rns no 1003X.The first announcement shouldn't have been released as it did not relate to theAGM. HIGHCROFT INVESTMENTS PLC ANNUAL GENERAL MEETING Real Estate Investment Trust conversion At the Company's Annual General Meeting held today John Hewitt, Chairman,announced that the Board had received notification from Kingerlee HoldingLimited ("KHL") confirming that it intends to support the proposed conversion ofthe Company to a Real Estate Investment Trust ("REIT"). KHL owns 25.32 per cent of the Company's issued ordinary share capital and istherefore a substantial shareholder for the purposes of the REITs legislation(defined as a shareholder of 10 per cent or more), which would ordinarily be anobstacle to REITs conversion. The KHL board has notified the Company that ithas received advice, on which it intends to act, which should enable Highcroftto convert to a REIT notwithstanding the fact that KHL will continue to own morethan 10 per cent of the Company's issued ordinary share capital. The Board welcomes this notification as an important practical step, one ofseveral to be taken over the coming months, towards convening an ExtraordinaryGeneral Meeting, likely to be held in December, at which the Board hopes to puta resolution to Shareholders that will enable conversion to a REIT on 1 January2008. 23 May 2007 Enquiries : Charles Stanley Securities 020 7149 6000 Philip Davies This information is provided by RNS The company news service from the London Stock Exchange