PICTON PROPERTY INCOME LTD - Results of Annual General Meeting

PR Newswire

                Picton Property Income Limited (the" Company")

                       Result of Annual General Meeting

                               12 November 2014

At the Annual General Meeting ("AGM") held on 12 November 2014, all
Resolutions set out in the AGM Notice sent to shareholders on 24 September
2014, were duly passed. A copy of the full voting totals will be published on
the Company´s website at: www.pictonproperty.co.uk

The following Special Business resolutions were also passed:

BOARD AUTHORITY  IT WAS RESOLVED TO extend the authority of the Board to issue
TO ISSUE SHARES: an unlimited number of shares under Article 4.7 of the
                 Articles of Incorporation for a further 5 years, effective as
                 at the passing of this resolution.

MARKET           IT WAS RESOLVED TO renew the authority of the Company, in
ACQUISITIONS:    accordance with Section 315 of The Companies (Guernsey) Law,
                 2008 (as amended) ("the Law"), to make market acquisitions
                 (within the meaning of Section 316 of the Law) of the Ordinary
                 Shares of No Par Value in the share capital of the Company
                 ("the Ordinary Shares") provided that:-

                 (a) the maximum number of Ordinary Shares hereby authorised to
                 be acquired shall be 14.99 per cent of the issued Ordinary
                 Shares on the date on which this resolution is passed;

                 (b) the minimum price which may be paid for an Ordinary Share
                 shall be 1p;

                 (c) the maximum price (exclusive of expenses) which may be
                 paid for an Ordinary Share shall be an amount equal to the
                 higher of 105 per cent of the average of the middle market
                 quotations (as derived from the Daily Official List) for the
                 Ordinary Shares for the five business days immediately
                 preceding the date of purchase or the higher of such price of
                 the last independent trade and the highest current independent
                 bid at the time of purchase; and

                 (d) unless previously varied, revoked or renewed, the
                 authority hereby conferred shall expire at the conclusion of
                 the Annual General Meeting of the Company to be held in 2015,
                 save that the Company may, prior to such expiry, enter into a
                 contract to purchase Ordinary Shares under such authority and
                 may make a purchase of Ordinary Shares pursuant to any such
                 contract.

EXTRA-ORDINARY   IT WAS RESOLVED TO empower the Directors of the Company to
RESOLUTION -     disapply the right of shareholders to receive a pre-emptive
PRE-EMPTION      offer of new Ordinary Shares pursuant to Article 4.17 of the
RIGHTS:          Articles of Incorporation provided that this power shall be
                 limited to the issue of up to 43,919,176 Ordinary Shares
                 (being equal to 10 per cent of the Ordinary Shares in issue as
                 at the date of this Notice) and shall expire (unless
                 previously renewed, varied or revoked by the Company in a
                 general meeting) at the end of the Annual General Meeting of
                 the Company held in 2015, or, if earlier, the date falling 15
                 months after the date of this Resolution, but during this
                 period the Company may make offers, and enter into agreements,
                 which would, or might, require Ordinary Shares to be issued
                 (and treasury shares to be sold) after the power given to the
                 Board pursuant to this Resolution ends and the Board may issue
                 Ordinary Shares (and sell treasury shares) under any such
                 offer or agreement as if the power had not ended.


For further information:

David Sauvarin
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Tel: 01481 745529
Fax: 01481 745085


Note to Editors

Picton Property Income Limited (´Picton´) is an income focused
property investment company listed on the London Stock Exchange. Picton can
invest both directly and indirectly in commercial property across the United
Kingdom.

With Net Assets of £273.7 million at 30 September 2014 and
approximately 850 investors, the Company´s objective is to provide
shareholders with an attractive level of income, together with the potential
for capital growth by investing in the principal commercial property sectors.

www.pictonproperty.co.uk