Tritax Big Box REIT plc Management Shares (9406W)

TIDMBBOX

RNS Number : 9406W

Tritax Big Box REIT plc

24 April 2019

24 April 2019

TRITAX BIG BOX REIT PLC

(the "Company")

PURCHASE of Ordinary Shares under the Investment Management Agreement AND PDMR Shareholdings

The Board of the Company announces that in accordance with the terms of the Company's management fee arrangements with Tritax Management LLP (the "Manager"), the Manager has acquired in the market a total of 698,144 ordinary shares of GBP0.01 each in the capital of the Company ("Ordinary Shares") on behalf of the senior executives of the investment team of the Manager as listed in the table below (the "Investment Team") and certain members of staff of the Manager (the "Management Shares"). The Management Shares were acquired on 17 April 2019 at 148.92 pence per share.

Under the terms of the management fee arrangements, 25 per cent. of the management fee (net of any applicable tax) for the relevant six-month period is applied by the Manager in subscribing for, or acquiring, Ordinary Shares.

The Management Shares purchased are subject to a minimum lock-in period of 12 months.

PDMR Shareholdings

In accordance with article 19.3 of the Market Abuse Regulation on Admission, the beneficial interests of the senior executives of the Investment Team with day-to-day management responsibility in connection with services provided to the Company (and/or persons closely associated thereof) who have acquired Management Shares are listed in the table below.

 
 PDMR                 Position          Number of       Number of      % of issued 
                                        Management       Ordinary      share capital 
                                       Shares issued    Shares held 
                      Investment 
 Mark Shaw             Team              160,592        1,358,489         0.080% 
                     --------------  ---------------  -------------  --------------- 
                      Investment 
 Colin Godfrey         Team              160,592        1,324,352         0.078% 
                     --------------  ---------------  -------------  --------------- 
                      Investment 
 James Dunlop          Team              160,592        1,261,991         0.074% 
                     --------------  ---------------  -------------  --------------- 
                      Investment 
 Henry Franklin        Team              115,811         941,011          0.055% 
                     --------------  ---------------  -------------  --------------- 
                      Investment 
 Bjorn Hobart          Team               25,982         146,592          0.009% 
                     --------------  ---------------  -------------  --------------- 
                      Investment 
 Petrina Austin        Team               25,982         126,505          0.007% 
                     --------------  ---------------  -------------  --------------- 
 Tritax Management 
  LLP                 Manager               -             94,008          0.006% 
                     --------------  ---------------  -------------  --------------- 
 Staff of Tritax 
  Management          Staff of the 
  LLP*                 Manager            48,593         248,730          0.015% 
                     --------------  ---------------  -------------  --------------- 
 Total*                                  698,144        5,501,678         0.322% 
                                     ---------------  -------------  --------------- 
 

* In respect of the staff of Tritax Management LLP, this figure only includes Ordinary Shares issued or purchased pursuant to the management fee arrangements with the Manager.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 
Tritax Group                            via Maitland (below) 
  Colin Godfrey (Partner, Fund Manager) 
 Maitland (Communications Adviser)       Tel: [phone] 
  James Benjamin                          [e-mail] 
 
 Jefferies International Limited         Tel: [phone] 
  Gary Gould 
  Stuart Klein 
 
 Akur Limited                            Tel: [phone] 
  Anthony Richardson 
  Tom Frost 
  Siobhan Sergeant 
 

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 pre-let forward funded developments, the Company focuses on well-located, modern Big Box logistics assets, typically greater than 500,000 sq ft (measured by floor area, c. 69% of the Company's existing logistics facilities including forward funded developments are in excess of 500,000 sq ft), 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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April 24, 2019 05:30 ET (09:30 GMT)