REG - Capital & Regional - Completion of Acquisition

Capital & RegionalAnnouncement

06/09/2023 09:00

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RNS Number : 4806L  Capital & Regional plc  06 September 2023

6 September 2023

 

UK company number 01399411

LSE share code: CAL

JSE share code: CRP

ISIN: GB00BL6XZ716

LEI: 21380097W74N9OYF5Z25

 

 

CAPITAL & REGIONAL PLC

("Capital & Regional")

 

Completion of Acquisition

 

Capital & Regional (LSE: CAL), the UK focused REIT with a portfolio of
community shopping centres, is pleased to announce that, further to the
announcements on 10 August 2023 and 25 August 2023 and following the
successful Capital Raising, it has now completed on the acquisition of The
Gyle Shopping Centre in Edinburgh.

 

Lawrence Hutchings, Chief Executive Officer, comments: "The acquisition of The
Gyle Shopping Centre, supported by the successful equity raise reflects the
confidence that investors have in our needs based non-discretionary community
centre strategy, our management platform and portfolio. These Grocery anchored
centres are part of essential community infrastructure and continue to
demonstrate the resilience and importance of physical stores to retailers.

 

"This established dual supermarket anchored community centre offers a number
of asset management opportunities to create value, leveraging our expertise to
improve occupancy and income. The acquisition will be accretive to income from
day one, enhancing earnings in the first full year of ownership and thereby
generating attractive risk-adjusted returns for shareholders.

 

"We would like to thank all of those involved in bringing this transaction to
a successful conclusion."

 

Defined terms in this announcement bear the same meanings as in the prospectus
published by the Company on 10 August 2023.

 

- ENDS -

 

For further information:

Capital & Regional plc                      020 7932
8000

Lawrence Hutchings

Stuart Wetherly

 

Panmure Gordon (UK) Limited (Sponsor, Joint Financial Adviser and Joint
Broker)

Amrit Mahbubani
020 7886 2500

Atholl Tweedie

Ailsa Macmaster

David Watkins

 

Numis Securities Limited (Joint Financial Adviser and Joint Broker)

Ben
Stoop
020 7260 1000

Will Rance

 

Java Capital (JSE Sponsor)

Shivani Bhikha
          +27(0)78 120 6931

Daniel Ross
          +27(0)83 716 8665

 

FTI Consulting
 

Richard Sunderland                            020
3727 1000

Maria Saud

Oliver Parsons

capreg@fticonsulting.com (mailto:capreg@fticonsulting.com)

 

About Capital & Regional plc:

 

Capital & Regional is a UK focused retail property REIT specialising in
shopping centres that dominate their catchment, serving the non-discretionary
and value orientated needs of the local communities. It has a track record of
delivering value enhancing retail and leisure asset management opportunities
across a portfolio of tailored in-town community shopping centres.

 

Using its expert property and asset management platform Capital & Regional
owns and manages shopping centres in Edinburgh, Hemel Hempstead, Ilford,
Maidstone, Walthamstow and Wood Green.

 

Capital & Regional is listed on the main market of the London Stock
Exchange (LSE) and has a secondary listing on the Johannesburg Stock Exchange
(JSE).

 

For further information see www.capreg.com (http://www.capreg.com/) .

 

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