Worsley Investors Limited

Net Asset Value • Oct 5, 2018

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AXA Property Trust Ltd - Company Update

PR Newswire

London, October 5

AXA Property Trust Limited

(a closed-ended investment company incorporated with limited liability under the laws of Guernsey with registered number 43007)

LEI Number: 213800AF85VEZMDMF931

(The “Company”)

UPDATE RELATING TO THE

COMPANY’S ONGOING STRATEGY

5th October 2018

Further to the Company’s announcement on 21st September 2018 regarding the result of the adjourned EGM, the Directors have consulted with the shareholder who voted against the proposal to voluntarily wind up the Company pursuant to Section 391(1)(b) of The Companies (Guernsey) Law, 2008, as amended.

During this consultation the shareholder has proposed that the Company retains its Listing, ceases the managed wind-down and realisation of assets and changes its Investment Objectives to permit the Company to make new investments in different asset classes to those currently permitted.  

The Directors view these proposals to be a significant change from the current Investment Objectives approved by more than 75% of those voting in October 2013. The October 2013 resolution therefore remains in place unless otherwise changed by shareholders and the Board believes it has to continue with the current realisation strategy, in particular with respect to the lease negotiations and disposal at Curno.  

Company website: retail.axa-im.co.uk/axa-property-trust

All Enquiries:

Investment Manager 

AXA Investment Managers UK Limited

Broker Services

7 Newgate Street

London EC1A 7NX

United Kingdom

Broker

Stifel Nicolaus Europe Limited

150 Cheapside

London EC2V 6ET

United Kingdom

Tel: +44 (0)20 7710 7600

Company Secretary

Northern Trust International Fund

Administration Services (Guernsey) Limited

PO Box 255

Trafalgar Court

Les Banques

St Peter Port

Guernsey GY1 3QL

Channel Islands