SREI.GB Invista Fnd Tst

TIDMSREI

RNS Number : 8222T

Schroder Real Estate Inv Trst Ld

27 July 2022

For release 27 July 2022

Schroder Real Estate Investment Trust Limited

SHARE BUYBACK PROGRAMME

Schroder Real Estate Investment Trust Limited (the "Company") announces that it has appointed J.P. Morgan Securities plc ( which conducts its UK investment banking activities as J.P. Morgan Cazenove) to act as its broker to commence market purchases of its own shares.

Following recent transactions the Company has cash of GBP16.4 million and a net loan to value of 29.0% as at 30 June 2022. The Company also has undrawn revolving credit facilities of GBP28.7 million. As a result of this strong financial position, the Board and Manager believe that investment in the Company's shares at the prevailing price and discount to net asset value offers attractive value for its shareholders. The Company therefore intends to recommence its share buy-back programme from its own resources.

The buy-backs will be made under the authority granted at the annual general meeting of the Company held on 9 September 2021, pursuant to which it has authority to repurchase a maximum of 73,612,937 of its ordinary shares (being its outstanding shareholder authority). Such authority lasts until the next annual general meeting of the Company (or other such general meeting of shareholders at which authority to buy back shares is obtained).

No maximum consideration payable has been determined by the Company, but the Company is unable to pay a price for any shares pursuant to the buy-backs which would equate to a premium on the net asset value of such shares.

This arrangement is in accordance with Chapter 12 of the Financial Conduct Authority's Listing Rules and the Company's general authority to repurchase shares.

The Company is amending its disclosure policy to include on a regulatory information services details of its share buyback powers which it renews annually. It is expected similar announcements will be made every time the share buyback authority is renewed.

-ENDS-

For further information:

 
 Schroder Real Estate Investment Management 
  Limited: 
  Nick Montgomery / Bradley Biggins / 
  Matthew Riley                                   020 7658 6000 
 FTI Consulting: 
  Dido Laurimore / Richard Gotla / Ollie 
  Parsons                                         020 3727 1000 
                                                 --------------- 
 J.P. Morgan Cazenove: 
 
  William Simmonds, Jérémie Birnbaum    020 7742 4000 
  (Corporate Finance) 
  Tel: +44 (0)20 7742 4000 
 
 
  James Bouverat (Sales) 
  Email: james.e.bouverat@jpmorgan.com             020 7134 2223 
 
  Carrie Fox (Sales Trader) 
  Email: carrie.fox@jpmorgan.com                   020 7742 4463 
 
  Charlotte Twigden (Sales Trader) 
  Email: charlotte.twigden@jpmorgan.com            020 7742 8805 
                                                 --------------- 
 

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END

POSSEDFMMEESESW

(END) Dow Jones Newswires

July 27, 2022 02:01 ET (06:01 GMT)

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