PICTON PROPERTY INCOME LD

AGM Information • Nov 13, 2014

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PICTON PROPERTY INCOME LTD - Results of Annual General Meeting

PR Newswire

London, November 12

            Picton Property Income Limited (the" Company")                       Result of Annual General Meeting                               12 November 2014At the Annual General Meeting ("AGM") held on 12 November 2014, allResolutions set out in the AGM Notice sent to shareholders on 24 September2014, were duly passed. A copy of the full voting totals will be published onthe Company's website at: www.pictonproperty.co.ukThe following Special Business resolutions were also passed:BOARD AUTHORITY  IT WAS RESOLVED TO extend the authority of the Board to issueTO ISSUE SHARES: an unlimited number of shares under Article 4.7 of the                 Articles of Incorporation for a further 5 years, effective as                 at the passing of this resolution.MARKET           IT WAS RESOLVED TO renew the authority of the Company, inACQUISITIONS:    accordance with Section 315 of The Companies (Guernsey) Law,                 2008 (as amended) ("the Law"), to make market acquisitions                 (within the meaning of Section 316 of the Law) of the Ordinary                 Shares of No Par Value in the share capital of the Company                 ("the Ordinary Shares") provided that:-                 (a) the maximum number of Ordinary Shares hereby authorised to                 be acquired shall be 14.99 per cent of the issued Ordinary                 Shares on the date on which this resolution is passed;                 (b) the minimum price which may be paid for an Ordinary Share                 shall be 1p;                 (c) the maximum price (exclusive of expenses) which may be                 paid for an Ordinary Share shall be an amount equal to the                 higher of 105 per cent of the average of the middle market                 quotations (as derived from the Daily Official List) for the                 Ordinary Shares for the five business days immediately                 preceding the date of purchase or the higher of such price of                 the last independent trade and the highest current independent                 bid at the time of purchase; and                 (d) unless previously varied, revoked or renewed, the                 authority hereby conferred shall expire at the conclusion of                 the Annual General Meeting of the Company to be held in 2015,                 save that the Company may, prior to such expiry, enter into a                 contract to purchase Ordinary Shares under such authority and                 may make a purchase of Ordinary Shares pursuant to any such                 contract.EXTRA-ORDINARY   IT WAS RESOLVED TO empower the Directors of the Company toRESOLUTION -     disapply the right of shareholders to receive a pre-emptivePRE-EMPTION      offer of new Ordinary Shares pursuant to Article 4.17 of theRIGHTS:          Articles of Incorporation provided that this power shall be                 limited to the issue of up to 43,919,176 Ordinary Shares                 (being equal to 10 per cent of the Ordinary Shares in issue as                 at the date of this Notice) and shall expire (unless                 previously renewed, varied or revoked by the Company in a                 general meeting) at the end of the Annual General Meeting of                 the Company held in 2015, or, if earlier, the date falling 15                 months after the date of this Resolution, but during this                 period the Company may make offers, and enter into agreements,                 which would, or might, require Ordinary Shares to be issued                 (and treasury shares to be sold) after the power given to the                 Board pursuant to this Resolution ends and the Board may issue                 Ordinary Shares (and sell treasury shares) under any such                 offer or agreement as if the power had not ended.For further information:David SauvarinThe Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedTrafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QLTel: 01481 745529Fax: 01481 745085Note to EditorsPicton Property Income Limited ('Picton') is an income focusedproperty investment company listed on the London Stock Exchange. Picton caninvest both directly and indirectly in commercial property across the UnitedKingdom.With Net Assets of £273.7 million at 30 September 2014 andapproximately 850 investors, the Company's objective is to provideshareholders with an attractive level of income, together with the potentialfor capital growth by investing in the principal commercial property sectors.

www.pictonproperty.co.uk