Tritax Big Box REIT plc Issue of Ordinary Shares and PDMR Shareholdings (5474Z)
18 September 2015 - 10:06PM
UK Regulatory
TIDMBBOX
RNS Number : 5474Z
Tritax Big Box REIT plc
18 September 2015
18 September 2015
TRITAX BIG BOX REIT PLC
(the "Company")
Issue of Ordinary Shares under the Investment Management
Agreement and PDMR Shareholdings
The Board of Tritax Big Box REIT plc (ticker: BBOX) announces
that, in accordance with the terms of the management fee
arrangements with Tritax Management LLP (the "Manager") pursuant to
which 25 per cent. of the management fee is payable in new ordinary
shares of GBP0.01 each in the capital of the Company ("Ordinary
Shares"), it has today issued 290,795 Ordinary Shares (the
"Management Ordinary Shares"), subject only to Admission (defined
below).
The issue price per Management Ordinary Share is 114.68p (being
the most recently published net asset value of 116.68p per Ordinary
Share as at 30 June 2015, less the two interim dividends of 1.5p
and 0.5p per Ordinary Share declared on 8 June 2015 and 21 August
2015 respectively).
Application has been made for the Management Ordinary Shares to
be admitted to the premium segment of the Official List and to
trading on the main market of the London Stock Exchange. It is
expected that dealings in the Management Ordinary Shares will
commence at 8.00 a.m. on 21 September 2015 ("Admission").
The Ordinary Shares allotted and issued to the Manager set out
above are subject to a minimum lock-in period of 12 months from
Admission.
Director and PDMR Shareholdings
In accordance with DTR 3.1.4(1)(a), on Admission the beneficial
interests of the directors of the Company and senior executives of
the Investment Team with day-to-day management responsibility in
connection with services provided to the Company will be as
follows:
PDMR Position Number of % of issued
Ordinary Shares share capital
held
---------------- --------------- ----------------- ---------------
Non-executive
director and
a member of
Investment
Mark Shaw Team 320,094 0.05%
---------------- --------------- ----------------- ---------------
Investment
Colin Godfrey Team 248,535 0.04%
---------------- --------------- ----------------- ---------------
Investment
James Dunlop Team 248,535 0.04%
---------------- --------------- ----------------- ---------------
Investment
Henry Franklin Team 196,436 0.03%
---------------- --------------- ----------------- ---------------
Total Voting Rights
Immediately following Admission, the Company's issued share
capital will consist of 677,840,088 Ordinary Shares with voting
rights. This figure may be used by Shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the share capital of the Company under the FCA's Disclosure and
Transparency Rules.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tritax Group via Newgate (below)
Colin Godfrey (Partner,
Fund Manager)
Newgate (Financial PR) Tel: 020 7680 6550
James Benjamin Email: tritax@newgatecomms.com
Andre Hamlyn
Jefferies International Tel: 020 7029 8000
Limited
Gary Gould
Stuart Klein
Alex Collins
Akur Limited Tel: 020 7493 3631
Anthony Richardson
Tom Frost
Siobhan Sergeant
NOTES:
Tritax Big Box REIT plc is a real estate investment trust to
which Part 12 of the UK Corporation Tax Act 2010 applies ("REIT").
The Company invests in and asset manages a portfolio of
well-located, modern "Big Box" assets, typically targeting
buildings greater than 500,000 sq. ft., let to institutional-grade
tenants on long-term leases (typically between 12 and 25 years in
length) with upward-only rent reviews (providing the potential for
inflation linked earnings growth), and with geographic and tenant
diversification throughout the UK. The Company seeks to exploit the
significant opportunity in this sub-sector of the UK logistics
market owing to strong tenant demand in high growth areas of the
economy and limited stock supply. The Company is the first listed
vehicle to give pure exposure to the "Big Box" asset class in the
UK.
Further information on Tritax Big Box REIT is available at
www.tritaxbigbox.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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