Real Estate Credit Investments : Result of the Annual General Meeting

11 September 2017

REAL ESTATE CREDIT INVESTMENTS LIMITED (THE "COMPANY") RESULT OF THE ANNUAL GENERAL MEETING

The Board of Directors of the Company is pleased to announce that, at the Annual General Meeting of the Company held today (the "AGM"), all resolutions were approved.

Following 99.99% of the votes being cast in favour of the continuation Resolution 8, the Company will continue its business as a closed ended collective investment scheme and a further continuation resolution will be proposed at the AGM to be held in 2021.

-ENDS- For further information please contact:

Broker: Richard Crawley / Richard Bootle (Liberum Capital)

[phone]

Investor Relations: Nicole Von Westenholz (Cheyne) [phone]

Resolutions	Votes For / Discretionary	% of Vote	Against	% of Vote	Withheld
Ordinary business
1. To receive and adopt the Directors' report and financial statements for the period ended 31 March 2017.	37,209,000	99.91	33,533	0.09	0
2. To re-appoint Deloitte LLP as Auditors.	37,209,000	99.91	33,533	0.09	0
3. To authorise the Directors to fix the remuneration of the Auditors.	37,241,201	99.99	1,332	0.01	0
4. To re-elect Bob Cowdell as a Director.	37,231,844	99.97	10,689	0.03	0
5. To re-elect Graham Harrison as a Director	37,241,201	99.99	1,332	0.01	0
6. To re-elect John Hallam as a Director.	37,231,844	99.97	10,689	0.03	0
7. To re-elect Sarah Evans as a Director.	37,241,201	99.99	1,332	0.01	0
Special business
8. That the Company continues its business as a closed-ended collective investment scheme	37,241,201	99.99	1,332	0.01	0
Extraordinary business
9. To authorise the Company unconditionally and generally in accordance with the Companies Law to make market acquisitions (within the meaning of section 316 of the Companies Law) of up to 14.99 per cent of the Core Ordinary Shares on such terms and in such manner as the Directors may from time to time determine (the "Core Buy Back Authority").	37,223,463	99.99	1,332	0.01	17,738

10. To disapply pre-emption rights in relation to 'equity securities' (as defined in the Articles), and authorise the Directors to allot and issue equity securities for cash pursuant to Article 5 of the Articles or by way of a sale of treasury shares as if Article 7 of the Articles did not apply to any such allotment and issue, provided that this power shall be limited to the allotment and issue of up to 10 per cent. of the total Core Ordinary Shares issued by the Company as at 16 August 2016, being the latest practicable date before publication of this Circular, and shall expire on the date of the Company's annual general meeting to be held in 2017 (unless previously renewed, varied or revoked by the Company in general meeting), save that the Company shall be entitled to make offers or agreements before the expiry of such power which would or might require equity securities to be allotted and issued after such expiry and the Directors shall be entitled to allot and issue equity securities pursuant to any such offer or agreement as if the power conferred hereby had not expired.

33,538,617

91.19

3,239,687

8.81

464,229