Update on target Sainsbury's portfolio purchase

RNS Number : 5337A

LXI REIT PLC

26 September 2022

 

26 September 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EC NO. 596/2014) AS IT FORMS PART OF THE DOMESTIC LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED) (THE " UK MARKET ABUSE REGULATION")

LXi REIT plc

(the "Company" or "LXi REIT")

Update on target Sainsbury's portfolio purchase

Following its announcement on 22 September 2022 and detailed and supportive discussions with its shareholders, the Company has notified Sainsbury's of its decision not to proceed further with the portfolio purchase or equity funding given the current stock market volatility.

FOR FURTHER INFORMATION, PLEASE CONTACT:

LXI REIT Advisors Limited Simon Lee (Partner, Fund Manager) John White (Partner, Fund Manager) Freddie Brooks (CFO)	Via H/Advisors Maitland
Peel Hunt LLP Luke Simpson / Liz Yong / Huw Jeremy	020 7418 8900
J efferies International Tom Yeadon / Ed Matthews / Rishi Bhuchar	020 7029 8000
Alvarium Securities Limited Mark Thompson / Eddie Nissen / Oliver Kenyon	020 7016 6700
H/Advisors Maitland (Communications Adviser) James Benjamin / Alistair de-Kare-Silver	07747 113 930 / 020 7379 5151 [e-mail]

The Company's LEI is: 2138008YZGXOKAXQVI45

NOTES

LXI REIT plc invests in UK commercial property assets let, or pre-let, on long (typically 20 to 30 years to expiry or first break), inflation-linked leases to a wide range of strong tenant covenants across a diverse range of robust property sectors.

The Company may invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. The Company will not undertake any direct development activity nor assume direct development risk.

The Company is targeting a dividend of 6.3 pence per ordinary share for the year which commenced on 1 April 2022*.

The Company, a real estate investment trust ( "REIT") incorporated in England and Wales, islisted on the premium listing segment of the Official List of the UK Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017.

The Company is a constituent of the FTSE 250, EPRA/NAREIT, MSCI and STOXX Europe 600 indices.

Further information on the Company is available at www.lxireit.com

*  This is a target and not profit forecast.

 

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