Results Of Annual General Meeting Held On 26 June 2020

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, EUROPEAN ECONOMIC AREA, CANADA, JAPAN OR AUSTRALIA.

Cromwell EREIT Management Pte. Ltd., in its capacity as manager of Cromwell European Real Estate Investment Trust (“CEREIT”, and the manager, the “Manager”), wishes to announce that at the second Annual General Meeting (“AGM”) of CEREIT held on 26 June 2020, the resolutions as set out in the Notice of AGM dated 4 June 2020 (the “Resolutions”) were duly passed by unitholders of CEREIT (“Unitholders”) by way of poll.

The information as required under Rule 704(16) of the Listing Manual of the Singapore Exchange Securities Trading Limited is set out below:

(a) Breakdown of All Valid Votes Cast at AGM

Resolution number and detailsTotal number of units represented by votes for and against the relevant resolutionForAgainst
Number of unitsAs a percentage of total number of votes for and against the resolution (%)Number of unitsAs a percentage of total number of votes for and against the resolution (%)
Ordinary Resolution 1

To receive and adopt
1,470,583,243 1,470,583,043 100.00 200 0.00
Resolution number and detailsTotal number of units represented by votes for and against the relevant resolutionForAgainst
Number of unitsAs a percentage of total number of votes for and against the resolution (%)Number of unitsAs a percentage of total number of votes for and against the resolution (%)
the Report of Perpetual (Asia) Limited, as trustee of CEREIT, the Manager’s Statement, and the Audited Financial Statements of CEREIT for the financial year ended 31 December 2019 and the Auditors’ Report thereon.      
Ordinary Resolution 2

To re-appoint Deloitte & Touche LLP as Auditors of CEREIT to hold office until the conclusion of the next AGM of CEREIT, and to authorise the Manager to fix their remuneration.
1,471,510,4431,471,510,243100.002000.00
Ordinary Resolution 3

To authorise the Manager to issue Units and to make or grant convertible instruments
1,471,510,4431,466,636,46099.674,873,9830.33
Ordinary Resolution 4

To approve the adoption of the Unit Buy-Back Mandate.
1,471,299,943 1,471,299,743100.002000.00

(b) Details of parties who are required to abstain from voting on any resolution(s), including the number of units held and the individual resolution(s) on which they are required to abstain from voting

No party is required to abstain from voting on any of the resolutions.


(c) Name of firm and/or person appointed as scrutineer

DrewCorp Services Pte Ltd was appointed as Scrutineer at the AGM.


By Order of the Board

Simon Garing

Chief Executive Officer and Executive Director

Cromwell EREIT Management Pte. Ltd.

(Company Registration No: 201702701N)

as manager of Cromwell European Real Estate Investment Trust

26 June 2020

ABOUT CROMWELL EUROPEAN REAL ESTATE INVESTMENT TRUST

Cromwell European REIT is a real estate investment trust (“REIT”) with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of income-producing real estate assets in Europe that are used primarily for office, light industrial / logistics, and retail purposes. With a portfolio of 94 properties as at the date of this announcement in or close to major gateway cities in Denmark, Finland, France, Germany, Italy, the Netherlands as well as Poland, and a balanced focus on the office and light industrial / logistics sectors, it is also the first REIT with a diversified Pan-European portfolio to be listed on the Singapore Exchange Securities Trading Limited.

As at 31 March 2020, CEREIT’s portfolio had 94 properties with an aggregate lettable area of approximately 1.4 million square metres with close to 800 tenant-customers and a WALE profile of around 4.5 years. Comprising primarily freehold or ongoing leasehold assets, the portfolio had an appraised value of approximately €2,075 million1 as at 31 March 2020.

CEREIT is managed by Cromwell EREIT Management Pte. Ltd., a wholly-owned subsidiary of CEREIT’s sponsor, Cromwell Property Group2, a real estate investor and manager with operations in 14 countries, listed on the Australian Securities Exchange Ltd.

IMPORTANT NOTICE

The past performance of Cromwell European Real Estate Investment Trust (“CEREIT”) is not indicative of future performance. The listing of the units in CEREIT (“Units”) on the Singapore Exchange Securities Trading Limited (the “SGX-ST”) does not guarantee a liquid market for the Units. The value of the Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, Cromwell EREIT Management Pte. Ltd., as manager of CEREIT (the “Manager”) or any of its affiliates. An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed on the SGXST. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST. This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units.


Footnotes:

  1. Valuation is based on independent valuations conducted by Colliers and Cushman & Wakefield as at 31 December 2019 for 91 existing properties in the portfolio. The three assets acquired in Germany with completion on 24 March 2020 are being carried at their purchase price.
  2. Cromwell Property Group is a stapled group comprising Cromwell Corporation Limited and Cromwell Diversified Property Trust (the responsible entity of which is Cromwell Property Securities Limited)