Highcroft Investments : Results of the Annual General Meeting held on 17 May 2018

Annual General Meeting 2018

Highcroft Investments plc

(the "Company" or "Highcroft")

Results of the Annual General Meeting held on 17 May 2018

Highcroft announces that at its Annual General Meeting, which was held at 12.00 today, all the proposed resolutions were duly approved by the shareholders by way of a poll. Resolutions 1 to 9 were proposed as ordinary resolutions and resolution 10 was proposed as a special resolution. The voting results are set out below and are also available on the Company's website atwww.highcroftplc.com.

Under the Financial Conduct Authority's Listing Rules, because the Kingerlee Concert Party is classed as a "controlling shareholder" (defined as a person who exercises or controls, on their own or together with any other person with whom they are acting in concert, 30% or more of the voting rights in the Company) a resolution for the election and re-election of independent directors must be approved by an ordinary resolution of, the shareholders and separately approved by, those shareholders who are not controlling shareholders (the "Independent Shareholders"). Accordingly the results below show the voting by all shareholders and, separately, on resolutions 4 and 8 only, the voting by the Independent Shareholders (which excludes the voting interest of the Kingerlee Concert Party, as controlling shareholder, holding 2,164,466 ordinary shares which represents 41.9% of the issued ordinary share capital of the Company).

In favour		Against
RESOLUTION	Votes	%age	Votes	%age	Withheld
1	To receive and consider the report and accounts for the year ended 31 December 2017.	3,128,458	100	0	0	0
2	To approve a final property income distribution of 30.0p per share on the ordinary shares of the Company for the year ended 31 December 2017 to be paid on 1 June 2018 to shareholders on the register of members on 4 May 2018.	3,128,458	100	0	0	0
3	In accordance with the Companies Act 2006, to approve, on an advisory only basis the directors' remuneration report, excluding the part containing the directors' remuneration policy, contained in the annual report for the year ended 31 December 2017.	3,120,958	100	0	0	7,500
4	To re-elect Charles Butler director of the Company. asa	3,120,958	100	0	0	7,500
5	To re-elect Simon Gill as a director of the Company.	3,128,458	100	0	0	0
6	To re-elect David Kingerlee as a director of the Company.	3,128,458	100	0	0	0
7	To re-elect Roberta Miles as a director of the Company.	3,128,458	100	0	0	0
8	To re-elect Simon Costa as a director of the Company.	3,120,958	100	0	0	7,500
9	To re- appoint Mazars LLP as auditor to hold office from the conclusion of the meeting to the conclusion of the next meeting at which accounts are laid before the Company and to authorise the directors to fix the remuneration of the auditor for the ensuing year.	3,128,458	100	0	0	0
10	That a General Meeting of the Company (other than an Annual General Meeting) may be called on	3,128,458	100	0	0	0
In favour		Against
RESOLUTION	Votes	%age	Votes	%age	Withheld
not less than 14 days' notice.

Votes of Independent Shareholders (excluding the voting interest of the Kingerlee Concert Party)

In favour		Against
RESOLUTION	Votes	%age	Votes	%age	Withheld
4	To re-elect Charles Butler as a director of the Company.	1,090,537	100	0	0	7,500
8	To re-elect Simon Costa as a director of the Company.	1,090,537	100	0	0	7,500

Notes:

• (a) The votes in favour include those votes giving the Chairman discretion.

• (b) A vote withheld is not a vote in law and is not counted in the votes for or against a resolution.

Enquiries:

Highcroft Investments PLC

Charles Butler/Roberta Miles 01865 840023 Panmure Gordon (UK) Limited

Andrew Potts/Fabien Holler 020 7886 2500