Urban Logistics REIT plc is pleased to announce the Company has raised aggregate gross proceeds of approximately £136.2 million through a Placing, Open Offer and Offer for Subscription.
Under the Open Offer, the Company has received valid acceptances from Qualifying Shareholders in respect of 3,917,269 Open Offer Shares, raising gross proceeds of approximately £5.4 million. In addition, the Company has received valid acceptances for 517,088 Offer for Subscription Shares, raising gross proceeds of approximately £0.7 million under the Offer for Subscription.
In combination with the result of the Placing announced on 14 February 2020, the Company has now raised aggregate gross proceeds of approximately £136.2 million, which the board of directors of Urban Logistics approved at the general meeting held on Monday 9 March 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.
Singer Capital Markets acted as Nominated Adviser and Joint Bookrunner to Urban Logistics REIT plc alongside Panmure Gordon.
About Urban Logistics REIT plc
Urban Logistics REIT plc is a property investment company, quoted on the AIM market of the London Stock Exchange.
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.
Market Cap: £121 million*
Website: Click here
*As at 10/03/2020
For more information on this news, please email us or call us on +44 (0)20 7496 3000.
[follow align=”center” twitter=”http://” follow linkedin=”https://www.linkedin.com/company/274452/admin/”]