Extraordinary General Meeting - 14 March 2012
An Extraordinary General Meeting ('EGM') was held on 14 March 2012 at Hotel Novotel, 35 Rue du Laboratoire, L-1911, Luxembourg.
There was one Agenda item, proposed by Prologis, Inc. under Article 18.1 of the Management Regulations, to change PEPR’s Management Regulations. The Agenda Item and the quorum and approval requirements in relation thereto were contained in the Notice of Meeting. All unitholders on the register on Friday 9 March 2012 were able to vote at the meeting.
At the EGM, the resolution was passed. The final voting position was as follows:
|
Resolution number |
For | Against | Abstention | Not Present | |
|---|---|---|---|---|---|
| 1 | Amendment to Article 20 of the Management Regulations as set out in further detail in the revised article 20 attached to the Notice of Meeting as an appendix. | 193,364,693 | 3,504,482 | 3,192,138 | 6,186,127 |
The amendments are intended to improve the overall financial outcome if, in the future, there is a winding-up of PEPR. The amended Management Regulations will allow for all unitholders owning more than one per cent of the ordinary units, whether individually or collectively in an ad-hoc partnership, to be offered the option to elect for distributions “in specie” (e.g. by transfer of the shares in companies holding properties) rather than only in cash, as currently envisaged.
The amendments were approved by the Commission de Surveillance du Secteur Financier, the Management Company and the PEPR Board.
EGM documents:
| Letter to PEPR investors |
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| Convening Notice |
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| Appendix to Convening Notice - proposed changes to Management Regulations - clean |
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| Appendix to Convening Notice - proposed changes to Management Regulations - track-changed |
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| Form of Proxy* |
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| Attendance form* |
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* Unitholders who hold though Necigef B.V. must apply for registration to www.rbs.com/evoting or contact their intermediary at which their units are administered.
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