21 Oct 2020 11:19
FOR IMMEDIATE RELEASE.
21 October 2020
The Local Shopping REIT plc ("LSR" or the "Company")
Result of General Meeting
The directors of the Company (the "Board" or the "Directors") are pleased to announce that at the General Meeting held earlier today, the Resolutions as set out in the Notice of General Meeting dated 28 September 2020 were duly passed.
Pursuant to the Listing Rules, the date of transfer of listing category must not be less than 20 business days after the passing of the Resolution. The Board has applied for the transfer to be effected and, subject to:
(a) the Company's largest shareholder, Thalassa Holdings Ltd ("Thalassa") completing the transfer to its shareholders of approximately 21,019,500 of the 21,021,277 Ordinary Shares in LSR it currently holds, by way of a mandatory redemption of shares and return of capital by Thalassa to its shareholders (which is expected to take place on or before 23 October 2020); and
(b) the Financial Conduct Authority ("FCA") confirming that the Company meets the eligibility requirements for such a listing,
it is anticipated that the date of transfer will be 19 November 2020.
The Company is also making an application to the FCA for the lifting of the suspension from trading of its shares, which the Company anticipates will take place immediately following the transfer becoming effective and on 19 November 2020.
Final Poll Voting Results
The final poll voting results for the Resolutions passed at the General Meeting are shown in the table below. In accordance with the Listing Rules.
No. | Resolution | For | Against | Total Votes | Withheld |
1 | Special resolution To approve the transfer of the Company's listing category from a Premium Listing (investment company) to a Standard Listing (shares)
| 21,044,465 | 0 | 21,044,465 | 1,149 |
2 | Ordinary resolution To grant authority for the Directors to allot equity securities pursuant to Section 551 of the Companies Act 2006 ("Act")
| 21,044,465 | 0 | 21,044,465 | 1,149 |
3 | Special resolution Approval for the Directors, to allot equity securities for cash, as if Section 561(1) of the Act did not apply
| 21,043,665 | 800 | 21,044,465 | 1,149 |
Notes:
1. A copy of the Resolutions passed at the General Meeting is being uploaded today to the National Storage Mechanism.
2. The final voting results will also be displayed on the Company website at www.localshoppingreit.co.uk.
3. In accordance with the Listing Rules, the Proposed Transfer requires the Company to obtain the prior approval of a resolution for such transfer from a majority of not less than 75% of the votes attaching to the shares voted on the resolution.
4. Any proxy votes which are at the discretion of the Chairman have been included in the 'For' total.
5. A vote 'Withheld' is not a vote in law and is not counted in the calculation of the proportion of the votes for and against the Resolutions.
Enquiries:
The Local Shopping REIT plc
William A Heaney
Company Secretary
07712 868315
ENDS
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.
LEI: 213800SOAIB9JVCV4D57
LSR.L (LSR)