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LMP Londonmetric Property Plc

203.20
1.80 (0.89%)
28 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Londonmetric Property Plc LSE:LMP London Ordinary Share GB00B4WFW713 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.80 0.89% 203.20 202.20 202.60 205.60 200.80 204.20 4,221,147 16:35:28
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Agents & Mgrs 146.7M -506.3M -0.4648 -4.35 2.2B

LondonMetric Property PLC Rule 2.8 Announcement

27/03/2024 6:27pm

RNS Regulatory News


RNS Number : 5950I
LondonMetric Property PLC
27 March 2024
 

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 IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE").  

 

FOR IMMEDIATE RELEASE

 

27 March 2024

 

No intention to make an offer for UK Commercial Property REIT Limited ("UKCM")

 

LondonMetric Property plc ("LondonMetric") notes the recent press speculation and confirms that it does not intend to make an offer for UKCM under Rule 2.7 of the Code.

 

LondonMetric notes the comments made by the Chairman of UKCM in the 21 March 2024 announcement of the all-share combination with Tritax Big Box REIT plc ("BBOX").

 

However, having only recently completed its merger with LXi REIT on 6 March 2024, LondonMetric is not currently in a position to pursue an offer for UKCM, noting also the irrevocable undertaking provided by Phoenix Life Limited in favour of the combination with BBOX representing approximately 43.4 per cent. of UKCM's total issued ordinary share capital on 21 March 2024.

 

Under Note 2 on Rule 2.8 of the Code, LondonMetric, and any person(s) acting in concert with it, reserve the right to make or participate in an offer or possible offer for UKCM and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code within six months of the date of this announcement in the following circumstances:

 

a)         with the agreement of the board of UKCM, but only in the event that BBOX's offer has been withdrawn or lapsed;

b)         following the announcement of a firm intention to make an offer for UKCM by or on behalf of a third party other than BBOX;

c)         following the announcement by UKCM of a Rule 9 waiver proposal (as referred to in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or for a reverse takeover (as defined in the Code); or

d)         where the Panel on Takeovers and Mergers has determined that there has been a material change of circumstances.

 

Enquiries:

 

LondonMetric Property plc                                                                               +44 20 7484 9000

Andrew Jones, Chief Executive                                                                                     

Martin McGann, Finance Director

Gareth Price, Investor Relations

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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