NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
21 November 2023
UK Commercial Property REIT Limited ("UKCM" or the "Company")
Statement regarding the possible all-share merger
with Picton Property Income Limited ("Picton")
On 8th November 2023, UKCM announced it was in discussions with Picton regarding a possible all-share merger (the "Possible Merger").
UKCM has been informed by its largest shareholder that it does not support the Possible Merger on the terms proposed.
Accordingly, UKCM has informed Picton that it is terminating discussions with Picton regarding the Possible Merger.
The person responsible for arranging the release of this announcement on behalf of UKCM is Peter Pereira Gray, Chair.
Important Code Notes
In accordance with Rule 2.6(a) of the Code, Picton is required, by not later than 5.00 p.m. on 6 December 2023, to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for the Company, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel on Takeovers and Mergers in accordance with Rule 2.6(c) of the Code.
UK Commercial Property REIT Limited
+44 (0) 20 7280 5569
Rothschild & Co (Financial Adviser to UKCM)
+44 (0) 20 7280 5000
The information contained within this announcement is deemed by UKCM to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended). On the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Notice related to financial adviser
N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for UKCM and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than UKCM for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.
Rule 26.1 disclosure
In accordance with Rule 26.1 of the Code, a copy of this announcement will be available (subject to certain restrictions relating to persons resident in restricted jurisdictions) at www.ukcpreit.com by no later than 12 noon (London time) on the business day following the date of this announcement. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.