UK Commercial Property investors ignore abstaining chair to approve Tritax deal

UK Commercial Property (UKCM) shareholders ignored their abstaining chair and voted in favour of the merger with Tritax Big Box (BBOX), an Abrdn tie-up that will create the fourth-largest real estate investment trust.

Results from the general meeting last week showed 95% of voting shareholders, making up 77% of the register, approved the merger with the Tritax fund that specialises in large warehouses, while only 4.3% of the register were against it. 

Shareholders also passed a special resolution to allow UKCM directors to ‘take all such actions as they may consider necessary, desirable, or appropriate for carrying the scheme into full effect.’