Issue of Ordinary Shares

RNS Number : 6147T

Tritax Big Box REIT plc

07 October 2014

 



7 October 2014

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 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 122,248 Ordinary Shares (the "Management Ordinary Shares"), subject only to Admission (defined below). 

The issue price per Management Ordinary Share is 100.0p (being the most recently published net asset value of 101.85p per Ordinary Share as at 30 June 2014, less the first interim dividend of 1.85p per Ordinary Share).

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 9 October 2014 ("Admission").

The Ordinary Shares allotted and issued to the Manager set out above are subject to a minimum lock-in period of 12 months from Admission.

DIRECTOR AND PDMR Shareholdings

In accordance with DTR 3.1.4(1)(a), 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 will be as follows:

PDMR	Position	Number of Ordinary Shares held	% of issued share capital
Mark Shaw	Non-executive director and a member of Investment Team	172,821	0.05%
Colin Godfrey	Investment Team	134,185	0.04%
James Dunlop	Investment Team	134,185	0.04%
Henry Franklin	Investment Team	106,057	0.03%

Total Voting Rights

Immediately following Admission, the Company's issued share capital will consist of 365,733,316 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 Communications
Newgate Communications (Financial PR) James Benjamin Clotilde Gros Georgia Lewis	Tel: [phone] Email: [e-mail]
Jefferies International Limited Gary Gould Stuart Klein Alex Collins	Tel: [phone]
Akur Limited Anthony Richardson Tom Frost Siobhan Sergeant	Tel: [phone]

NOTES:

Tritax Big Box REIT plc is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies ("REIT"). The Company invests in a portfolio of well-located, modern "Big Box" assets, typically greater than 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 (giving inflation linked earnings growth), and with 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 in high growth areas of the economy and limited stock supply. The Company is the first listed vehicle to give pure exposure to the "Big Box" asset class in the UK.

Further information on Tritax Big Box REIT is available at www.tritaxbigboxreitplc.co.uk 

 

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