Result of General Meeting and Total Voting Rights

RNS Number : 4365F

Urban Logistics REIT PLC

09 March 2020

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, THE REPUBLIC OF IRELAND, THE REPUBLIC FO SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Urban Logistics REIT plc

("Urban Logistics" or the "Company")

Result of General Meeting and Total Voting Rights

The board of directors of Urban Logistics, the AIM-listed REIT focused on last mile logistics, is pleased to announce that at a general meeting of the Company held earlier today all resolutions were duly passed.

Accordingly, as set out in the Circular published 18 February 2020, the Company has the requisite authority to complete the Issue to raise gross proceeds of approximately £136.2 million. In addition, the Company has renewed the authorities given to the Directors to allot Ordinary Shares on a non-pre-emptive basis at the Annual General Meeting held on 12 July 2019. These authorities will expire at the earlier of the conclusion of the Annual General Meeting of the Company in 2020 or 30 September 2020.

Following receipt of valid applications for a further 75,000 Offer for Subscription Shares, application has been made for a revised total of 100,864,419 New Ordinary Shares (including the LTIP Shares) to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8 a.m. on 11 March 2020.

As previously disclosed, the following Directors have subscribed for New Ordinary Shares pursuant to the Issue as outlined below:

	No. of Placing Shares being subscribed for	Following Admission Number of Ordinary Shares	Percentage of Enlarged Share Capital
Nigel Rich	110,000	335,536	0.18%
Bruce Anderson	4,446	50,000	0.03%

In addition, following Admission Pacific Industrial LLP will be interested in a further 1,809,607 New Ordinary Shares following the issue of the LTIP Shares and Richard Moffitt, Pacific Investments Management Limited, Mark Johnson and Christopher Turner are members of Pacific Industrial LLP and therefore have an interest in such shares.

Following Admission, the total number of voting rights in the Company will be 188,616,023 Ordinary Shares. This number 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 Company under the FCA's Disclosure Guidance and Transparency Rules.

Words and expressions defined in the Circular published on 18 February 2020 shall have the same meaning in this announcement.

Enquiries

Urban Logistics REIT plc Richard Moffitt	[phone]
Montfort - Financial PR and IR adviser Olly Scott	[phone]
N+1 Singer - Nominated Adviser and Joint Bookrunner James Maxwell / James Moat (Corporate Finance) Alan Geeves / James Waterlow / Sam Greatrex (Sales)	[phone]
Panmure Gordon (UK) Limited - Joint Bookrunner Chloe Ponsonby (Corporate Broking) Emma Earl (Corporate Finance) David Hawkins / Tom Scrivens (Sales)	[phone]

About Urban Logistics REIT

Urban Logistics REIT plc is a property investment company, quoted on the AIM market of the London Stock Exchange, (AIM: SHED).

The Company invests in UK-based logistics properties with the objective of generating attractive dividends and capital returns for its shareholders. Its investment strategy focuses on strategically located smaller single let logistics properties servicing high-quality tenants. Investment returns will be generated by an experienced management team focusing on quality stock selection and active asset management.

 

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