HET Regulatory Filing Neutral
HERIOT REIT LIMITED - Results of the special resolution passed by shareholders of the Company in terms of section 60 of the Companies Act
Heriot REIT Limited
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What this filing means
Shareholders gave the nod to Heriot's related-party share issuance, voting 100% in favour with no dissent — but the meaningful news landed ten days ago. The special resolution covers the Consideration Shares needed to implement the KPI acquisition flagged in the 19 June circular, so this SENS filing is the formal ratification of a deal the market has already digested. Participation was near-total at 99.46% of shares in issue, and the result was declared early because the threshold was already m…
Bull case
- Unanimous 100% approval with zero votes against and zero abstentions signals complete shareholder alignment on the Consideration Shares issuance.
- Participation was near-total at 99.46% of shares in issue voted, giving the Transactions an exceptionally strong mandate to proceed.
Bear case
- The resolution authorises issuing Consideration Shares to related/inter-related parties or directors under s41(1), creating dilution risk for existing shareholders at a moment the stock is already at its 52-week high.
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