Business
Notice of General Meeting
Notice of General Meeting.
About this update from Alternative Income Reit Plc
[{"type":"text","content":"\n \nRNS Number : 5797Y AEW UK Long Lease REIT PLC 06 December 2017 \n\n6 December 2017\n \nTHIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\n \nAEW UK Long Lease REIT plc\n \n(the \"Company\")\n \nPublication of Circular\n \nThe Company is today posting a circular to Shareholders to convene a general meeting to be held at 9.30 a.m. on 22 December 2017 (the \"General Meeting\") in order to seek Shareholder approval in connection with certain proposed amendments to the Company's investment policy (the \"Circular\").\n \nInvestment Policy\nThe resolution to be proposed at the General Meeting will amend the Company's investment policy:\n \ni. to increase an investment in a single asset from 10 per cent. of Gross Asset Value (\"GAV\") to 15 per cent. of GAV; and\nii. to increase the value of assets in any sub-sector in one geographical region from a maximum of 10 per cent. of GAV to 15 per cent. of GAV.\n \nIt is proposed that the amendments set out above will only apply until such time as the Company's GAV is at least £250m, at which point the limit in (i) above will revert to 10 per cent. of GAV on any new assets purchased and future investments will be made with a view to reducing the value of assets in any sub-sector in one geographical region to a maximum of 10 per cent of GAV.\n \nInvestment Strategy\nIn addition, whilst not forming part of the investment policy and therefore not requiring Shareholder approval, it is proposed that the Company will amend its investment strategy to:\n \ni. increase its maximum exposure to traditional sectors, at the time of investment, from 20 per cent. of GAV to 30 per cent. of GAV; and\nii. amend the definition of ''very long leasehold'' from 150 years to 100 years.\n \nAEW UK Investment Management LLP (the \"Investment Manager\") is seeing an increasing number of inflation-linked assets in traditional sectors and believes that increasing the limit set out at (i) above will giv...