Strategic Review Update

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

12 June 2024

For Immediate Release

Balanced Commercial Property Trust Limited
("BCPT" or the "Company")

Strategic Review Update

On 15 April 2024, the board of the Company (the "Board") announced that it had commenced a strategic review process in order to consider the future of the Company and further explore all of the various strategic options available to enhance value for shareholders (the "Strategic Review").

Accordingly, since commencing the Strategic Review, the Board has undertaken an open consultation process with a significant proportion of shareholders to hear their priorities for their investment in the Company. The Board would like to thank shareholders for the strong support shown for the Strategic Review and the constructive feedback to date on the options being considered as part of the Strategic Review. A range of views have been expressed on the future direction of the Company and, generally, shareholder feedback to date has confirmed the need for change from the status quo.

The Board is also pleased to have received interest from a number of credible third parties who are currently reviewing information in respect of the Company and its portfolio that has been provided to them.

There can be no certainty at this stage that the final terms of any proposal that may be received would be sufficiently attractive to merit a Board recommendation. The Board continues to pursue actively such third party interest, alongside considering other options such as a managed wind down, as part of the Strategic Review.

The Board continues to welcome investor feedback on the strategic options for the Company and invites shareholders to share their views with the Chairman ([e-mail]) and the Company's advisers, whose details are set out below.

The Board also intends to use the Company's forthcoming AGM as an additional opportunity to hear shareholders' views on the Company's various strategic options. The Board encourages shareholders to vote at the AGM and either attend in person or to submit any questions in advance of the meeting to the email address shown above. The AGM will be held at 12.30 p.m. on Thursday, 20 June 2024 at the building of the Company's UK legal advisers, Dickson Minto, at Dashwood House, 69 Old Broad Street, London EC2M 1QS.

We look forward to providing further updates, as appropriate, in the coming months.

For further information, please contact:

Balanced Commercial Property Trust Limited	via Buchanan
Paul Marcuse (Chairman)	[e-mail]
Dickson Minto Advisers LLP (Strategic Review Joint Financial Adviser)	[phone]
Douglas Armstrong
Barclays Bank PLC, acting through its investment bank (Joint Financial Adviser)	[phone]
Dion Di Miceli / Bronson Albery / Callum West	[e-mail]
Buchanan	[phone]
Helen Tarbet / Henry Wilson / George Beale	[e-mail]

Important notices

Dickson Minto Advisers LLP ("Dickson Minto Advisers"), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for the Company and for no one else in connection with the Strategic Review and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Dickson Minto Advisers nor for providing advice in connection with the Strategic Review referred to in this announcement. Neither Dickson Minto Advisers nor any of its affiliates (nor any of its or their respective directors, officers, employees, representatives or agents) owes or accepts any duty, liability or responsibility whatsoever (whether direct, indirect, consequential, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Dickson Minto Advisers in connection with the Strategic Review, this announcement, any statement contained herein or otherwise.

Barclays, which is authorised by the Prudential Regulation Authority and regulated in the United Kingdom by the Financial Conduct Authority and the Prudential Regulation Authority, is acting exclusively for the Company and no one else in connection with the matters set out in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Barclays nor for providing advice in relation to any matter referred to in this announcement.

In accordance with the City Code on Takeovers and Mergers (the "Code"), normal United Kingdom market practice and Rule 14e-5(b) of the Exchange Act, Barclays and its affiliates will continue to act as exempt principal trader in the Company's securities on the London Stock Exchange. These purchases and activities by exempt principal traders which are required to be made public in the United Kingdom pursuant to the Code will be reported to a Regulatory Information Service and will be available on the London Stock Exchange website at www.londonstockexchange.com. This information will also be publicly disclosed in the United States to the extent that such information is made public in the United Kingdom.

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.

The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by laws of the relevant jurisdictions and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

Publication on a website

In accordance with Rule 26.1 of the Code, a copy of this announcement will, subject to certain restrictions relating to persons resident in restricted jurisdictions, be available on the Company's website at https://www.balancedcommercialproperty.co.uk no later than 12 noon (London time) on the business day following the date of this announcement. Neither the content of any website referred to in this announcement nor the content of any website accessible from hyperlinks is incorporated into, or forms part of, this announcement.

MAR 

This announcement is released by the Company and the information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Article 7 of the UK version of the EU Market Abuse Regulation (Regulation (EU) No.596/2014) which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, such information is now considered to be in the public domain. 

LEI Number

The Company's LEI Number is 213800A2B1H4ULF3K397.

---

---