Annual general meeting voting results and changes to the board
RDI REIT P.L.C.
(Incorporated in the Isle of Man)
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
(“RDI” or the “Company”)
ANNUAL GENERAL MEETING VOTING RESULTS AND CHANGES TO THE BOARD
RDI, the income-focused UK-REIT, announces that, at the Annual General Meeting (“AGM”) held today, all of the
proposed resolutions set out below were passed by the requisite majority, on votes conducted by way of a poll.
The results of voting on the resolutions, which are set out in the Notice of the AGM, were as follows: -
Ordinary Resolution For % Against % Withheld
1 To receive and adopt the Annual
Report and audited financial
statements for the year ended
31 August 2020 276,791,949 99.97% 79,607 0.03% 1,174,399
2 To approve the Annual Report on
Remuneration for the year ended
31 August 2020 272,084,877 98.20% 4,976,692 1.80% 984,386
3 To re-elect GR Tipper as a Director 219,373,960 83.69% 42,739,088 16.31% 15,932,907
4 To re-elect SE Ford as an
Independent Director 276,694,670 99.87% 353,326 0.13% 997,959
5 To re-elect EA Peace as an
Independent Director 276,843,872 99.93% 204,124 0.07% 997,959
6 To elect M Parrott as a Director 270,025,917 98.08% 5,294,429 1.92% 2,725,609
7 To elect SJ Oakenfull as a Director 276,588,242 99.83% 459,754 0.17% 997,959
8 To re-elect DA Grant as a Director 276,567,409 99.83% 480,583 0.17% 997,963
9 To appoint KPMG LLP as the
Company’s Independent Auditor 272,404,596 98.32% 4,652,784 1.68% 988,575
10 To authorise the Audit and Risk
Committee to determine the
remuneration of the Independent
Auditor 276,857,149 99.93% 187,371 0.07% 1,001,435
11 To authorise the Directors to allot
Ordinary Shares up to the limit
contained in the Notice of the AGM 226,053,756 81.59% 51,019,129 18.41% 973,070
12 To authorise the Directors to dis-
apply pre-emption rights up to the
limit stated in the Notice of AGM 218,388,469 78.82% 58,685,746 21.18% 971,740
13 To authorise the Directors to dis-
apply pre-emption rights in
connection with a Specified
Investment up to the limit set out in
the Notice of the AGM 218,528,499 78.87% 58,545,716 21.13% 971,740
14 To authorise the Directors to make
market purchases of Ordinary Shares
up to the limit set out in the Notice of
the AGM 271,063,877 97.85% 5,944,590 2.15% 1,037,488
15 To amend the Articles of Association
of the Company 274,037,438 99.67% 910,127 0.33% 3,098,390
It should be noted that a vote withheld is not a vote in law and is not counted towards votes cast “For” or “Against”
The Company’s total issued share capital as at 28 January 2021 is 380,590,061 ordinary shares of 40 pence each the
The total number of votes cast at the AGM was 278,045,955 equating to 73.1 % of the ISC.
It has been noted that 16.31 % of votes were registered against the re-election of Gavin Tipper, the Chairman of RDI.
The Company is aware of shareholder concerns regarding Mr Tipper’s tenure, and a succession plan was set out in the
Annual Report, advising that Mr Tipper would be stepping down at the next AGM in 2022.
It was further noted that a number of shareholders on the JSE register, as in previous years, voted against Resolutions
11, 12 and 13. Following shareholder engagements, the directors’ authority to issue shares was reduced from 66% in
2017, to 10% in 2020. This level of authority is below the standard UK guidelines, and the Board is of the view that it
provides important flexibility to the Company. Management will continue to liaise with shareholders regarding these
resolutions and an update will be provided, in accordance with the UK Corporate Governance Code, within six months
of the AGM.
Michael Farrow retired as a director of RDI at the conclusion of the Annual General Meeting. We offer our thanks to
Michael for the considerable contribution he made during his nine-year tenure. Following Michael’s retirement, Sue
Ford has been appointed as the Senior Independent Director and Liz Peace, having the requisite experience, will
assume the Chair of the Remuneration Committee.
In accordance with LR 9.6.2 R of the Listing Rules of the UKLA, copies of all resolutions passed by the Company,
other than resolutions concerning ordinary business, have been submitted to the UK’s National Storage Mechanism
and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism and can also
be viewed on the Company’s website, www.rdireit.com.
For further information:
RDI REIT P.L.C.
Stephen Oakenfull, Donald Grant Tel: +44 (0) 20 7811 0100
UK Public Relations Adviser
Dido Laurimore, Claire Turvey Tel: +44 (0) 20 3727 1000
SA Public Relations Adviser
Frederic Cornet Tel: +27 (0) 11 447 3030
Java Capital Tel: + 27 (0) 11 722 3050
28 January 2021
Note to editors:
RDI is an income focused UK Real Estate Investment Trust (UK-REIT) with a diversified portfolio invested
principally in the UK. The investment approach is driven by an in depth understanding of occupational demand
including the impact of technology, transport and infrastructure investment. The portfolio has been repositioned in
recent years to increase its weighting to London and the South East, and to provide greater exposure to our leading
hotel and serviced office operating platforms.
RDI is committed to delivering attractive income led total returns across the real estate cycle. The current strategic
objectives of a lower leverage capital structure and more focused allocation of capital are targeted at delivering an
industry leading and sustainable income return.
RDI holds a primary listing on the London Stock Exchange and a secondary listing on the JSE. The Company is
included within the EPRA, GPR, JSE All Property and JSE Tradeable Property indices.
For more information on RDI, please refer to the Company's website www.rdireit.com
Date: 28-01-2021 04:49:00
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