Segro scales back April 21 AGM

Segro has announced that stay at home measures have made it impossible to have its company's shareholders attend its AGM scheduled for April 21 in person. The company wrote that it would arrange so that the legal requirements to hold the meeting could be satisfied for a meeting which would be functional only, with only formal votes and now business update. It asked shareholders to vote on all the resolutions or to appoint the chairman of the AGM as their proxy. The company said it currently has cash and undrawn facilities of £1.2bn with approximately £280 million of capital commitments as of the end of March. “We have a very diversified customer base across a variety of sectors, many of whom are involved in the supply of critical goods and services, but we appreciate that current circumstances are placing pressure on the cash flows of some of our customers," said CEO David Sleath. "Most of these businesses are fundamentally sound and we are working with them to provide appropriate assistance. While it is too early to fully assess the impact of this crisis, the high quality of our portfolio and the strength of our balance sheet means we are well placed to weather the storm caused by the Covid-19 pandemic.”