Warehouse Reit (LSE:WHR)
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RNS Number : 5349G
Warehouse REIT PLC
18 March 2020
18 March 2020
FOR IMMEDIATE RELEASE
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
TERMS NOT OTHERWISE DEFINED IN THIS ANNOUNCEMENT HAVE THE MEANINGS GIVEN TO THEM IN THE PROSPECTUS PUBLISHED BY THE COMPANY ON 5 MARCH 2020.
Warehouse REIT plc
( the "Company" or "Warehouse REIT")
Adjournment of General Meeting
Further to its announcement on 5 March 2020 with regard to a Proposed Placing, Open Offer, Offer for Subscription and Intermediaries Offer (the "Issue") and Notice of General Meeting, the Board of Directors (the "Board") of Warehouse REIT (ticker: WHR), the UK REIT that invests in and manages urban and 'last-mile' industrial warehouse assets in strategic locations in the UK, today announces that the Company's General Meeting that was due to take place at 11.00 a.m. on 23 March 2020, has been adjourned sine die as a result of the current market uncertainty caused by the global spread of COVID-19 .
As a result of the adjournment of the General Meeting, the current timetable as set out in the Prospectus for receipt of completed Open Offer Application Forms, Subscription Forms in respect of the Offer for Subscription and Intermediaries Offer and Placing Commitments is suspended and any application monies will be returned as soon as practicable. Notice of a revised time and date for the General Meeting and revised timetable will be notified as and when appropriate.
Neil Kirton, Chairman of Warehouse REIT, commented:
"Whilst we have engaged extensively and positively with investors since announcing we were contemplating an equity raise on 17 February 2020, and whilst there has been no noticeable impact on our business to date, in light of the unprecedented macro-economic backdrop and the significant impact it has had on the global equity market, we have decided to adjourn the General Meeting.
"Notwithstanding the significant current market uncertainty as a result of COVID-19, the longer term outlook for the multi-let, 'last mile' UK warehouse sector where we are focused remains attractive. We continue to benefit from the diversity of our income generated from 629 tenants operating in a range of sectors across 98 assets nationwide, which supports the attractive, progressive and well covered dividend."
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is being released on behalf of Warehouse REIT by Andrew Bird, CEO, Tilstone Partners Limited.
Warehouse REIT plc via FTI Consulting
Tilstone Partners Limited +44 (0) 1244 470
Andrew Bird 090
G10 Capital Limited (part of the Lawson
Conner Group), AIFM +44 (0) 20 3696
Maria Glew, Gerhard Grueter 1302
Peel Hunt (Financial Adviser, Nominated
Adviser and Broker) +44 (0) 20 7418
Capel Irwin, Harry Nicholas, Carl Gough 8900
FTI Consulting (Financial PR & IR Adviser
to the Company)
Dido Laurimore, Ellie Sweeney, Richard +44 (0) 20 3727
Further information on Warehouse REIT is available on its website:
Warehouse REIT plc owns and manages a diversified portfolio of warehouse real estate assets in UK urban areas.
This is a compelling market. The structural rise in e-commerce and investment in 'last-mile' delivery contribute to high tenant demand, while limited vacant space and our active asset management lead to growing rents. Capturing this income allows us to offer our shareholders an attractive dividend and the prospect of capital and further dividend growth.
Our portfolio of well-located assets is let to occupiers ranging from pure e-commerce to traditional light industrial. As we expand, our vision is for Warehouse REIT to become the warehouse provider of choice across the UK.
The Company's shares were admitted to trading on AIM in September 2017.
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(END) Dow Jones Newswires
March 18, 2020 03:00 ET (07:00 GMT)