Kingston Properties Limited (KPREIT) – Shareholders Approve Increase in Share Capital

Posted: February 25, 2021 at 1:51 pm

Kingston Properties Limited (KPREIT) has advised that at the Extraordinary General Meeting of the Company held on February 23, 2021, KPREIT’s shareholders unanimously approved the following resolutions:

Resolution No. 1

“BE IT RESOLVED AS AN ORDINARY RESOLUTION THAT the authorized ordinary shares in the Company be and are hereby increased from 1,000,000,000 to 2,000,000,000 shares.”

Resolution No. 2

“BE IT RESOLVED AS AN ORDINARY RESOLUTION THAT the Company, desiring to raise additional capital to finance new projects, be and is hereby authorized to raise such additional capital by way of an invitation to the public to subscribe for new ordinary shares in the capital of the Company ranking in all respects pari passu with the existing ordinary shares and/or ordinary stock units of the Company (herein an “Additional Public Offering (APO)”), the APO to be in respect of such number of new ordinary shares, and on such terms and subject to such conditions as the Directors of the Company may deem fit; AND THAT the Directors may, but shall not be obliged to, elect to upsize the number of new ordinary shares made available for subscription in the event that the invitation is oversubscribed. FURTHER THAT on the issue, the new ordinary shares shall, along with the existing ordinary shares of the Company, all be converted to ordinary stock units, ranking in all respects pari passu with the existing ordinary stock units of the Company.”

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