Issue of Ordinary Shares

RNS Number : 4776J

Tritax Big Box REIT plc

29 March 2018

 

29 March 2018

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 the Company announces that, in accordance with the terms of the Company's Investment Management Agreement with Tritax Management LLP (the "Manager") pursuant to which 25 per cent. of the management fee (net of associated taxes) is payable in new ordinary shares of £0.01 each in the capital of the Company ("Ordinary Shares"), it has today issued, in aggregate, 594,559 Ordinary Shares (the "Management Shares") to the senior executives of the investment team of the Manager (the "Investment Team") as listed in the table below and to certain members of staff of the Manager, in respect of the management fee paid for the six months to 31 December 2017, subject only to Admission (defined below).

The issue price per Management Share is 139.90 pence (being the most recently published audited basic net asset value of 141.50 pence per Ordinary Share as at 31 December 2017, less the fourth interim dividend of 1.60 pence per Ordinary Share paid to Shareholders on 29 March 2018 in respect of the period from 1 October 2017 to 31 December 2017).

Application has been made for the Management 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 Shares will commence at 8.00 a.m. on 4 April 2018 ("Admission").

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

The Management 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 Shares are listed in the table below.

PDMR	Position	Number of Management 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	135,533	957,560	0.070%
Colin Godfrey	Investment Team	135,533	877,290	0.064%
James Dunlop	Investment Team	135,533	826,329	0.061%
Henry Franklin	Investment Team	97,740	618,042	0.045%
Bjorn Hobart	Investment Team	21,928	83,771	0.006%
Petrina Austin	Investment Team	21,928	63,811	0.005%
Tritax Management LLP	Manager	-	83,161	0.006%
Staff of Tritax Management LLP*	Staff of the Manager	46,364	151,541	0.011%

*This figure only includes Management 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 1,364,192,642 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 Guidance 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 Patrick Hanrahan Leena Patel	Tel: [phone] Email: [e-mail]
Jefferies International Limited Gary Gould Stuart Klein	Tel: [phone]
Akur Limited Anthony Richardson Tom Frost Siobhan Sergeant	Tel: [phone]

The Company's LEI is: 213800L6X88MIYPVR714

NOTES:

Tritax Big Box REIT plc is the only listed vehicle dedicated to investing in very large logistics warehouse assets ("Big Boxes") 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. 65% of the Company's existing logistics facilities including forward funded developments are in excess of 500,000 sq ft.), 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 Big Box REIT is available at www.tritaxbigbox.co.uk 

 

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