Director/PDMR Shareholding
19/08/2022 10:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220819:nRSS6096Wa&default-theme=true
RNS Number : 6096W Industrials REIT Limited 19 August 2022
INDUSTRIALS REIT LIMITED
(formerly Stenprop Limited)
(Registered in Guernsey)
(Registration number 64865)
LSE share code: MLI JSE share code: MLI
ISIN: GG00BFWMR296
("Industrials REIT" or the "Company")
19 August 2022
Notification and public disclosure of transactions in accordance with the
Market Abuse Regulation.
On 18 August 2022, Lonat Limited sold 3,000,000 ordinary shares in the Company
at a price of £1.75 per share. Paul Arenson, Chief Executive Officer of
Industrials REIT Limited, is a discretionary beneficiary of the Lonat Trust,
which has a beneficial interest in Lonat Limited.
The net proceeds of the sale, being £5,239,499, will be utilised to part
repay total loans of £6,509,042 owed by Lonat Limited to Stenprop Industrials
Holdings Limited, a wholly owned subsidiary of the Company. The loans were
made in three tranches between 2015 and 2017 under the Company Share Purchase
Plan approved by shareholders at the 2015 annual general meeting of the
Company . The interest rate on the loans was equivalent to the Company's
average cost of borrowing, which was 2.16% per annum as at 31 March 2022.
The loans were secured against 5,392,536 ordinary shares in Industrials REIT
Limited and due for repayment between 2025 and 2027. Lonat Limited has
committed to repay the balance of the loans by way of a cash transfer of an
additional £1,269,543 within the next seven working days. After this
transfer, the loans will be fully repaid.
Following this transaction, the direct and indirect interest of Paul Arenson
in the share capital of the Company will total 13,598,296 ordinary shares,
equivalent to 4.55% of the issued share capital.
The proceeds from the repayment of the loans will be used by the Company to
fund the acquisition of further MLI properties.
This announcement is made in accordance with Article 19 of the UK Market Abuse
Regulation.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Lonat Limited
2 Reason for the notification
a) Position/status Paul Arenson, Chief Executive Officer of Industrials REIT Limited, is a
discretionary beneficiary of the Lonat Trust, which has a beneficial interest
in Lonat Limited
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Industrials REIT Limited
b) LEI 5493004JYL71EMLTB211
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary shares with a nominal value of €0.000001258
Identification code GG00BFWMR296
b) Nature of the transaction Sale of 3,000,000 ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
£1.75 3,000,000
d) Aggregated information
- Aggregated volume 3,000,000
- Price £5,250,000
e) Date of the transaction 2022-08-18
f) Place of the transaction London Stock Exchange, XLON
For further information:
Industrials REIT Limited +44(0)20 3918 6600
Paul Arenson (paul.arenson@industrials.co.uk)
Julian Carey (julian.carey@industrials.co.uk)
James Beaumont (james.beaumont@industrials.co.uk)
Numis Securities Limited (Financial Adviser) +44(0)20 7260 1000
Hugh Jonathan
Vicki Paine
FTI Consulting (PR Adviser) +44(0)20 3727 1000
Richard Sunderland
Richard Gotla
Neel Bose
industrialsreit@fticonsulting.com (mailto:industrialsreit@fticonsulting.com)
Java Capital +27 (0)11 722 3050
(JSE Sponsor)
About Industrials REIT:
Industrials REIT is a UK REIT with a primary listing on the London Stock
Exchange and a secondary listing on the Johannesburg Stock Exchange. The
objective of the Company is to deliver a combination of sustainable growing
income and growth in value to its investors. Industrials REIT focuses on
owning and operating a diversified portfolio of UK purpose built multi-let
industrial (MLI) estates across the UK. The Company aspires to be the leading
MLI business in the UK. For further information, go
to www.industrialsreit.com.
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 (mailto:rns@lseg.com)
or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
. END DSHGIGDIRXBDGDC