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COMPANY INFORMATION 2019-12-12T10:19:15+00:00

Company Information

Lighthouse was established with the primary objective of acquiring and investing globally in direct property assets as well as listed real estate and infrastructure securities.

Direct real estate acquisitions are opportunistic with the following key
characteristics:
◗ Predominantly in Europe;
◗ Focused on retail assets;
◗ Produce strong sustainable income;
◗ Occupied by high-quality tenants; and
◗ Provide asset management opportunities.

Our listed investments are diversified and include:
◗ Real estate securities;
◗ Infrastructure securities; and
◗ Highly liquid counters with attractive yields.

Stated Capital

As at 30 September 2019

GROUP COMPANY
2019
EUR
2018
EUR
2019
EUR
2018
EUR
 Authorised (*1*2)
832,790,136 (2018: 919,321,650) ordinary shares of no par value
 Issued (*1*2)
457,790,136 (2018: 455,969,410) ordinary shares of no par value at an average of approximately EUR 0.318 (2018: EUR 1.317) per share³ 145,801,666  600,703,936 145,801,666 600,703,936
(*1) The company’s shares have been consolidated on a 1 for 20 basis, effective from 18 December 2018. The comparative period’s shares have been restated for this share consolidation
(*2) The Company has only one class of shares in issue. Accordingly, there are no special rights, preferences, or restrictions attached to any of the authorised or issued shares.
(*3) No transaction cost were recognised as a deduction from equity in the current year (2018: EUR 0,02 million)

TRANSFERS FROM STATED CAPITAL TO NON-DISTRIBUTABLE RESERVE, REPAYMENTS OF CAPITAL, SHARE CONSOLIDATION AND SHARE CANCELLATION

Shareholders authorised the transfer or EUR 400 million from stated capital to non-distributable reserve at a general meeting of the company held on 2 August 2018
On 21 September 2018, the company’s board authorised a return of capital of EUR 300 million from non-distributable reserve, paid to shareholders on 8 October 2018. The returns of capital were funded primarily by selling listed securities’ investments and utilisation of internal cash
Shareholders authorised the transfer or EUR 450 million from stated capital to non-distributable reserve at a general meeting of the company held on 26  November 2018.
On 27 November 2018, the company’s board authorised a return of capital of EUR 300 million from non-distributable reserve, paid to shareholders on 10  December 2018. The returns of capital were funded primarily by selling listed securities’ investments and utilisation of internal cash resources.
The company’s shares have been consolidated on a 1 for 20 basis, effective from 18 December 2018.
The company cancelled 16 615 159 treasury shares on or about 24 January 2019.

RECONCILIATION OF MOVEMENT IN ISSUED SHARES DURING THE YEAR¹

GROUP COMPANY
2019
Shares
2018
Shares
2019
Shares
2018
Shares
 Balance at the beginning of the year  455,969,410 466,108,797 474,405,295  466,108,797
 Shares issued by way of scrip distribution:
   20 December 2017   6,475,772 6,475,772
 
 
 Incentive shares issued to Greenbay Share Trust on
    14 December 2017(*2)  – 1,820,726
    Cancelled or acquired during the year(*3*4) (16,615,159) (16,615,159)
Incentive shares released from the Greenbay Share Trust
on 31 January 2019(*5) 1,820,726
Balance at the end of the year  457,790,136  455,969,410  457,790,136 474,405,295
(* 1) Shares have been restated to post-consolidation equivalents where relevant.

Treasury shares at 30 September 2018:(*1)
(* 2) The group held 1,820,726 treasury shares in The Greenbay Share Trust.
(*3) The group held 16 615 159 treasury shares in Lighthouse One Limited. The treasury shares were acquired between 12 June 2018 and
28 September 2018, excluding regulatory closed periods.
(*4) The group held 16 615 159 treasury shares in Lighthouse One Limited. The treasury shares were acquired between 12 June 2018 and
28 September 2018, excluding regulatory closed periods.
(*5) The Greenbay Share Trust released and transferred 1 820 726 Incentive shares to participants on or about 31 January 2019.

TREASURY SHARES

GROUP
2019
EUR
2018
EUR
 Opening balance (17,378,683)
Shares cancelled/repurchased during the year 4,944,161 (26,77,785)
Consolidation of The Greenbay Share Trust (44,547) (2,258,199)
Return of capital distribution 11,658,301 11,658,301
Distribution paid – final 2018: cash (paid 7 January 2019) 820,768
Closing balance (17,378,683)