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Issue of Ordinary Shares

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By LSE RNS

RNS Number : 5931S
Tritax Big Box REIT plc
03 October 2017
 

3 October 2017

 

TRITAX BIG BOX REIT PLC

(the "Company")

 

Issue of Ordinary Shares under the Investment Management Agreement, PDMR Shareholdings and Total Voting Rights

 

The Board of Directors 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 £0.01 each in the capital of the Company ("Ordinary Shares"), it has today issued, in aggregate, 557,085 Ordinary Shares (the "Management Ordinary Shares") to the senior executives of the investment team of the Manager as listed in the table below (the "Investment Team") and to certain members of staff of the Manager, subject only to Admission (defined below).

 

The issue price per Management Ordinary Share is 130.83p (being the most recently published unaudited basic net asset value of 132.43p per Ordinary Share as at 30 June 2017, less the interim dividend of 1.60p per Ordinary Share paid to shareholders in August 2017 in respect of the period from 1 April 2017 to 30 June 2017).

 

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 5 October 2017 ("Admission").

 

The Identification code is GB00BG49KP99 and the LEI is 213800L6X88MIYPVR714.

 

The Management Ordinary Shares allotted and issued are subject to a minimum lock-in period of 12 months from Admission.

 

Director and PDMR Shareholdings

 

In accordance with Article 19.3 of the Market Abuse Regulations, 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 (and/or persons closely associated thereof) who have been issued Management Ordinary Shares are listed in the table below.

PDMR (including all PCAs)

Position

Number of Management Ordinary Shares Issued

Total Number of Ordinary Shares held

 

% of issued share capital

Mark Shaw

Non-executive director of the Company and a member of Investment Team

 

130,199

822,027

0.060%

Colin Godfrey

Investment Team

 

130,199

741,757

0.054%

James Dunlop

Investment Team

 

130,199

690,796

0.051%

Henry Franklin

Investment Team

 

93,893

520,302

0.038%

Bjorn Hobart

Investment Team

21,065

61,843

 

0.005%

Petrina Austin

Investment Team

21,065

41,883

 

0.003%

Tritax Management LLP

 

Manager

-

83,161

0.006%

Staff at Tritax Management LLP*

 

Staff

30,465

105,177

0.008%

 

*This figure only includes Management Ordinary Shares issued pursuant to the management fee arrangements with the Manager.

Total Voting Rights

 

Immediately following Admission, the Company's issued share capital will consist of 1,363,598,083 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

Colin Godfrey (Partner, Fund Manager)

 

via Newgate below



Newgate (PR Adviser)

James Benjamin

Anna Geffert

Lydia Thompson

 

Tel: 020 7680 6550

Email: tritax@newgatecomms.com



Jefferies International Limited

Gary Gould

Stuart Klein

 

Tel: 020 7029 8000



Akur Limited

Anthony Richardson

Tom Frost

Siobhan Sergeant

Tel: 020 7493 3631

 

NOTES:

 

Tritax Big Box REIT plc is the only listed vehicle to give pure exposure to the "Big Box" logistics asset class in the UK and is committed to delivering attractive and sustainable returns for shareholders. Investing in and actively managing existing built investments, land suitable for Big Box development and pre-let forward funded developments, the Company focuses on well-located, modern "Big Box" logistics assets, typically greater than 500,000 sq. ft. (measured by floor area, c.68% of the Company's existing assets including forward funded developments are in excess of 500,000 sq ft1), let to institutional-grade tenants on long-term leases (typically at least 12 years in length) with upward-only rent reviews and 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 and limited supply of Big Boxes.

 

The Company is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies ("REIT"), is listed on the premium segment of the Official List of the UK Financial Conduct Authority and is a constituent of the FTSE 250, FTSE EPRA/NAREIT and MSCI indices.

 

Further information on Tritax and Tritax Big Box REIT is available at www.tritax.co.uk and at www.tritaxbigbox.co.uk

 

(1)           Note: As a 30 June 2017, this figure excludes Howdens II and III at Wrath Park, Raunds which have exchanged conditionally, subject to planning.

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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