22 March 2023
Circle Property Plc
("Circle" or the "Company")
Results of Extraordinary General Meeting
Circle Property plc (AIM: CRC), is pleased to announce that all three of the resolutions ("Resolutions") put to shareholders at the Company's Extraordinary General Meeting held today were duly passed.
All the Resolutions were proposed as special resolutions and all votes were by poll vote where proxies were cast.
The votes received in respect of each of the Resolutions were as follows:
| Resolution | For | % | Against | %
|
| 1 - To approve the disposal of Concorde Park, Maidenhead ("Concorde Park") (the "Disposal")
| 16,317,494 | 100 | 40 | 0.00 |
| 2 - To approve the future (but not yet agreed) sale of 300 Pavilion Drive, Northampton ("300 Pavilion Drive")
| 16,312,680 | 99.97 | 4,854 | 0.03 |
| 3 - Conditional upon Resolution 1 above, to approve the proposed cancellation of the Company's Ordinary Shares from trading on AIM ("Cancellation")
| 16,298,814 | 99.89 | 18,720 | 0.11 |
Following the passing of the Resolutions, the Company expects the Disposal and the disposal of Victory House, 400 Pavilion Drive, Northampton ("Victory House") to complete by the end of March 2023, following which the Company expects to make a second Return of Capital in April 2023 through a B Share Issue.
As previously announced, given that the Board wishes to complete the Returns of Capital whilst the Ordinary Shares remain traded on AIM (although noting that this is dependent on the timing of any sale of 300 Pavilion Drive and the Board keeping this under review noting the costs associated with maintaining a quotation on AIM), the definitive timetable in relation to Cancellation is dependent on timing of the receipt of completion monies from disposals and the timing of the proposed Returns of Capital to Shareholders. Assuming completion of the Disposal, the disposal of Victory House and Returns of Capital in March and April 2023, it is expected that Cancellation will occur in May 2023. Further announcements will be made, as appropriate.
Enquiries:
| Circle Property Plc | +44 (0)20 7930 8503 |
| John Arnold, CEO Edward Olins, COO | |
| | |
| Cenkos Securities plc | +44 (0)20 7397 8900 |
| Katy Birkin George Lawson
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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