Tritax Big Box REIT plc Update on the Manager (0408I)
09 Diciembre 2020 - 01:00AM
UK Regulatory
TIDMBBOX
RNS Number : 0408I
Tritax Big Box REIT plc
09 December 2020
9 December 2020
TRITAX BIG BOX REIT PLC
UPDATE ON THE MANAGER
The Board of Tritax Big Box REIT plc (the Company) notes today's
announcement by Tritax Management LLP (the Manager) and Aberdeen
Standard Investments (ASI) relating to ASI's intention to acquire a
60% interest in the Manager
(https://www.tritax.co.uk/pressrelease/asi-to-acquire-interest-in-tritax-dec-2020).
The Board believes that ASI's strategic stake enhances the
overall strength and capabilities of the Manager without impacting
its ability to continue the successful delivery of the Company's
long-term strategy, via the unaltered Investment Management
Agreement between the Company and the Manager.
The Board is also reassured that Manager's staff will remain
unchanged, including the Company's dedicated fund management team
led by CEO, Colin Godfrey and Finance Director, Frankie Whitehead.
Over recent months, to support our ongoing and long-term growth,
the Manager has invested significantly in enhancing and expanding
its team, and will continue to provide high-quality logistics
expertise to the Company while retaining autonomy and control over
all investment decisions.
Overall, the Board considers that the combination of the Manager
and ASI will enhance the strength and depth of the offer to the
Company.
Commenting on the announcement, Sir Richard Jewson, Chairman of
Tritax Big Box REIT plc said:
"With the existing dedicated Big Box team at Tritax retaining
autonomy and control over investment decision making there will be
no change to day-to-day operations. In the longer term, we believe
that ASI's stake strengthens the Manager through access to the
resources of a large, global financial services institution, while
preserving the Manager's unique market leading logistics expertise
for our shareholders. The Board looks forward to the continued
service and performance that our shareholders have benefitted from
since IPO."
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tritax Group
Colin Godfrey (Partner, Fund Manager) +44 (0) 7881 914952
Ian Brown (Head of Investor Relations) +44 (0) 7908 251123
Tritax Big Box Reit plc +44 (0) 20 8051 5060
Sir Richard Jewson investors@tritaxbigbox.co.uk
Maitland/AMO (Communications Adviser) +44 (0) 20 7379 5151
James Benjamin tritax-maitland@maitland.co.uk
Jefferies International Limited
Stuart Klein +44 (0) 20 7029 8000
Akur Limited
Anthony Richardson
Tom Frost
Siobhan Sergeant +44 (0) 20 7493 3631
The Company's LEI is: 213800L6X88MIYPVR714
NOTES:
Tritax Big Box REIT plc is the only listed vehicle dedicated to
investing in very large logistics warehouse assets ("Big Boxes") in
the UK and is committed to delivering attractive and sustainable
returns for Shareholders. Investing in and actively managing
existing built investments, land suitable for Big Box development
and developments predominantly delivered through pre-let forward
funded basis, the Company focuses on large, well-located, modern
Big Box logistics assets, let to institutional-grade tenants on
long-term leases (typically at least 12 years in length) with
upward-only rent reviews and geographic and tenant diversification
throughout the UK. The Company seeks to exploit the significant
opportunity in this sub-sector of the UK logistics market owing to
strong tenant demand and limited supply of Big Boxes.
The Company is a real estate investment trust to which Part 12
of the UK Corporation Tax Act 2010 applies ("REIT"), is listed on
the premium segment of the Official List of the UK Financial
Conduct Authority and is a constituent of the FTSE 250, FTSE
EPRA/NAREIT and MSCI indices.
Further information on Tritax Big Box REIT is available at
www.tritaxbigbox.co.uk
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END
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