21 February 2022
SUPERMARKET INCOME REIT PLC
(the "Company" or together with its subsidiaries the "Group")
Migration of listing to the Premium Segment
Further to the announcement on 20 January 2022, the board of directors (the "Board") of Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-protected, long income from grocery property in the UK, is pleased to announce that the Company has received confirmation from the Financial Conduct Authority ("FCA") that it is eligible for admission to the Premium Segment of the Official List of the FCA (the "Official List").
Accordingly, the Company has made an application for 985,434,429 ordinary shares of one pence each, representing the entire issued ordinary share capital of the Company to be admitted to the Official List of the FCA and for a transfer of the shares from trading on the Specialist Fund Segment to the Premium Segment of the London Stock Exchange plc's Main Market (together, the "Migration" or "Admission").
The Board believes that the Migration will facilitate the Company's eligibility for inclusion in the FTSE UK and FTSE EPRA NAREIT Index Series, which is expected to take place at the Q2 2022 index review, subject to meeting the other relevant requirements for such inclusion.
Admission is expected to occur with effect from 8am on 23 February 2022. The Company's ticker, ISIN and SEDOL will remain unchanged.
In conjunction with the application for Admission, the Group is required to make a statement as to the sufficiency of its working capital. Accordingly, the Board is of the opinion that the Group has sufficient working capital for its present requirements, that is for at least the next 12 months from the date of this announcement.
In connection with the Migration, the Company has made certain non-material amendments to its investment restrictions. The investment policy and updated restrictions will be made available upon Admission on the Company's website at www.supermarketincomereit.com.
Nick Hewson, Chairman of the Company, said:
"The Migration of Supermarket Income REIT to the Premium Segment of the Official List is an important next step for the business, which has grown significantly since listing in 2017, from £100 million to c.£1.2 billion market capitalisation. This has been achieved through the support of our shareholders and selective acquisitions that deliver a stable and growing income return. The Migration brings a number of benefits, not least increased liquidity in the shares and a broadening of the potential investor base."
For further information, please contact:
Atrato Capital Limited +44 (0)20 3790 8087
Steve Noble / Rob Abraham / Kate Heseltine ir@atratocapital.com
Stifel Nicolaus Europe Limited - Sole Sponsor +44 (0)20 7710 7600
Mark Young / Matthew Blawat / Rajpal Padam
FTI Consulting +44 (0)20 3727 1000
Dido Laurimore / Eve Kirmatzis / Andrew Davis SupermarketIncomeREIT@fticonsulting.com
This announcement has been determined to contain inside information for the purposes of the UK version of Market Abuse Regulation (EU) no. 596/2014, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. The person responsible for arranging for the release of this announcement on behalf of Supermarket Income REIT plc is Kate Heseltine - Director, Investor Relations at Atrato Group.
NOTES TO EDITORS:
Supermarket Income REIT plc (LSE: SUPR) is a real estate investment trust dedicated to investing in grocery properties which are an essential part of the UK's feed the nation infrastructure. The Company focuses on grocery stores which are omnichannel, fulfilling online and in-person sales. All of the Company's 67 supermarkets(1) are let to leading UK supermarket operators, diversified by both tenant and geography.
The Company provides investors with attractive, long-dated, secure, inflation-linked, growing income with the potential for capital appreciation over the longer term and targets a 7% to 10% p.a. total shareholder return over the medium term(2). The Company has increased its dividend target in line with inflation each year.
The Company's ordinary shares were admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange on 21 July 2017.
Atrato Capital Limited is the Company's Investment Adviser.
Further information is available on the Company's website www.supermarketincomereit.com
1. 41 directly owned supermarkets, plus 26 via joint venture
2. There is no certainty that these illustrative projections will be achieved
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