TIDMWHR
RNS Number : 5057M
Warehouse REIT PLC
24 May 2022
THIS ANNOUNCEMENT IS NOT AN OFFER FOR SALE OR SUBSCRIPTION OR
SOLICITATION TO PURCHASE SHARES IN ANY JURISDICTION. THIS
ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR
PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN,
INTO, OR FROM THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND,
JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE
UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN
OFFER OF SECURITIES FOR SALE IN THE UNITED STATES, AUSTRALIA,
CANADA, NEW ZEALAND, JAPAN OR SOUTH AFRICA (UNLESS AN EXEMPTION
UNDER THE RELEVANT SECURITIES LAWS IS AVAILABLE) OR IN ANY OTHER
JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
PLEASE SEE THE IMPORTANT NOTICES AT THE OF THIS
ANNOUNCEMENT.
24 May 2022
Warehouse REIT plc
(the 'Company' or 'Warehouse REIT')
Notification of proposed admission to the premium segment of the
Main Market and cancellation of trading on AIM
Warehouse REIT, the AIM-listed company that invests in
logistics, e-commerce, industrial and last-mile warehouse assets in
the UK, announces its intention to apply for the Company's ordinary
shares (the "Ordinary Shares") to be admitted to listing on the
premium listing segment of the Official List of the Financial
Conduct Authority (the "FCA") and to trading on the premium segment
of the main market (the "Main Market") of the London Stock Exchange
plc (the "London Stock Exchange") (together "Admission"). The
Company's admission to trading on AIM will be cancelled with effect
from Admission.
The Directors believe that Admission will align the Company with
similarly sized companies in its sector and it is in the best
interests of the Company and its shareholders for the following
reasons:
-- the Company will have access to a potentially larger pool of
capital which may improve the liquidity of the Ordinary Shares on
the secondary market;
-- the premium listing is expected to broaden the appeal to a wider range of investors;
-- the premium listing will enable the Company to be eligible
for inclusion in a broader range of equity indices including the
FTSE's EPRA and UK Index Series which may further facilitate
increased liquidity of the Ordinary Shares;
-- a premium listing may enhance the Company's corporate profile
and recognition with increased media coverage and investor
interest; and
-- the Company will be required to comply with the higher
standards of governance required of premium listed companies under
the FCA's Listing Rules and related regulations and guidance.
Admission is subject to the approval by the FCA of a prospectus
in connection with Admission (the "Prospectus"). The Company
confirms that preparations in respect of Admission are well
progressed and accordingly the Company hereby gives notice of the
intended cancellation of trading of its Ordinary Shares on AIM in
accordance with Rule 41 of the AIM Rules for Companies. It is
expected that the Company will publish the Prospectus in or around
late-June. It is expected that Admission will occur, and the
Company's admission to trading on AIM will be cancelled
simultaneously, in July and in any event on a date not earlier than
23 June 2022 (being at least 20 business days after the date of
this announcement).
Admission is not expected to be conditional upon any shareholder
approval.
Peel Hunt LLP and Jefferies International Limited are acting as
joint sponsors in connection with Admission.
Neil Kirton, Chairman of Warehouse REIT, commented: "The
industrial real estate sector continues to benefit from strong
underlying fundamentals, with an acute shortage of new and vacant
space and strong occupational demand as our customers continue to
adapt to changes in supply chains and uncertain global conditions.
This is increasingly leading to rental growth which we are
currently observing across our assets. We remain focused on scaling
the portfolio, adding high-quality and well-located logistics,
e-commerce, urban and last-mile industrial assets alongside
progressing a number of major asset management initiatives.
"Following the successful deployment of the substantial capital
raised to date as an AIM company, we have now amassed a sizeable
portfolio of 91 estates, secured at an attractive blended NIY entry
valuation. Following continued dialogue with shareholders, the
board believes that a Main Market listing is the most effective
platform to enable us to further grow and diversify our shareholder
register and asset portfolio. We look forward to delivering further
strong performance for shareholders."
Enquiries: via FTI Consulting
Warehouse REIT plc
Tilstone Partners Limited +44 (0) 1244 470
Andrew Bird, Paul Makin, Peter Greenslade 090
FTI Consulting (Financial PR & IR Adviser
to the Company) +44 (0) 20 3727
Dido Laurimore, Richard Gotla, Ellie Perham-Marchant 1000
G10 Capital Limited (part of the IQEQ Group),
AIFM +44 (0) 207 397
Maria Glew 5450
Peel Hunt +44 (0) 20 7418
Capel Irwin, Carl Gough, Henry Nicholls 8900
Jefferies +44(0) 20 7029
Tom Yeadon, Gaudi Le Roux, Harry Randall 8000
Further information on Warehouse REIT is available on its
website:
http://www.warehousereit.co.uk
Notes to editors:
Warehouse REIT is an AIM listed UK Real Estate Investment Trust
that invests in logistics, e-commerce, industrial and last-mile
warehouse assets in strategic locations in the UK.
Occupier demand for urban warehouse space is increasing as the
structural growth in e-commerce has driven the rise in internet
shopping and consequently investment by retailers in the last mile
delivery sector, yet supply remains constrained giving rise to
rental growth.
The Company is an alternative investment fund ("AIF") for the
purposes of the AIFM Directive and as such is required to have an
investment manager who is duly authorised to undertake the role of
an alternative investment fund manager. The Investment Manager is
currently G10 Capital Limited and Tilstone Partners Limited are the
Investment Adviser.
The Company's purpose is to own and manage warehouses in
economically vibrant urban areas across the UK, providing the space
its occupiers need for their businesses to thrive.
As the Company grows, its vision is to become the UK's warehouse
provider of choice.
The Company's shares were admitted to trading on AIM in
2017.
Important Notice:
This announcement does not constitute an offer to sell, or the
solicitation of an offer to acquire or subscribe for, shares in the
Company in any jurisdiction. The distribution of this announcement
outside the United Kingdom may be restricted by law. No action has
been taken by the Company that would permit possession of this
announcement in any jurisdiction outside the UK where action for
that purpose is required. Persons outside the United Kingdom who
come into possession of this announcement should inform themselves
about the distribution of this Announcement in their particular
jurisdiction. Any failure to comply with the restrictions may
constitute a violation of the securities laws of any such
jurisdiction.
The Ordinary Shares have not been, and will not be, registered
under the US Securities Act of 1933, as amended (the "US Securities
Act"), or under the securities laws of any state or other
jurisdiction of the United States. The Ordinary Shares may not be
offered, sold, resold, transferred or delivered, directly or
indirectly, within the United States, except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the US Securities Act and in
compliance with any applicable securities laws of any state or
other jurisdiction in the United States.
Each of Jefferies International Limited ("Jefferies") and Peel
Hunt LLP ("Peel Hunt"), which are authorised and regulated in the
United Kingdom by the UK Financial Conduct Authority, are acting
exclusively as joint sponsors for the Company and no one else in
connection with Admission. Neither Jefferies nor Peel Hunt will
regard any other person as their respective clients in relation to
the subject matter of this announcement and will not be responsible
to anyone other than the Company for providing the protections
afforded to their respective clients, nor for providing advice in
relation to Admission, the contents of this announcement or any
transaction, arrangement or other matter referred to herein.
This announcement is the sole responsibility of the Company.
None of Jefferies, Peel Hunt or any of their respective operating
partners, co-investors and joint venture partners, or any of their
respective parent or subsidiary undertakings, or the subsidiary
undertakings of any such parent undertakings, or any of such
person's respective directors, officers, employees, agents,
affiliates or advisers or any other person ("their respective
affiliates") accepts any responsibility or liability whatsoever
for/or makes any representation or warranty, express or implied, as
to this announcement, including the truth, accuracy or completeness
of the information in this announcement (or whether any information
has been omitted from this announcement) or any other information
relating to the Company, its subsidiaries or associated companies,
whether written, oral or in a visual or electronic form, and
howsoever transmitted or made available or for any loss howsoever
arising from any use of this announcement or its contents or
otherwise arising in connection therewith. Jefferies, Peel Hunt and
their respective affiliates accordingly disclaim all and any
liability whatsoever whether arising in tort, contract or otherwise
which they might otherwise have in respect of this announcement or
its
contents or otherwise arising in connection therewith. No
representation or warranty, express or implied, is made by
Jefferies, Peel Hunt or any of their respective affiliates as to
the accuracy, fairness, completeness or sufficiency of the
information contained in this announcement.
This announcement may include statements that are, or may be
deemed to be, "forward-looking statements" (including words such as
"believe", "expect", "estimate", "intend", "anticipate" and words
of similar meaning). By their nature, forward-looking statements
involve risk and uncertainty since they relate to future events and
circumstances, and actual results may, and often do, differ
materially from any forward-looking statements. Any forward-looking
statements in this announcement reflect the Company's view with
respect to future events as at the date of this announcement. Save
as required by applicable law, the Company undertakes no obligation
to publicly revise any forward-looking statements in this
announcement, whether following any change in its expectations or
to reflect events or circumstances after the date of this
announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCPPUBPAUPPGQW
(END) Dow Jones Newswires
May 24, 2022 04:13 ET (08:13 GMT)
Warehouse Reit (LSE:WHR)
Historical Stock Chart
From Apr 2024 to May 2024
Warehouse Reit (LSE:WHR)
Historical Stock Chart
From May 2023 to May 2024