Update on target Sainsbury’s portfolio purchase

LXi REIT

26/09/2022 07:00

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RNS Number : 5337A  LXI REIT PLC  26 September 2022

26 September 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EC NO. 596/2014) AS IT FORMS PART OF THE DOMESTIC
LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 (AS AMENDED) (THE "UK MARKET ABUSE REGULATION")

 

LXi REIT plc

(the "Company" or "LXi REIT")

Update on target Sainsbury's portfolio purchase

Following its announcement on 22 September 2022 and detailed and supportive
discussions with its shareholders, the Company has notified Sainsbury's of its
decision not to proceed further with the portfolio purchase or equity funding
given the current stock market volatility.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 LXI REIT Advisors Limited                      Via H/Advisors Maitland

 Simon Lee (Partner, Fund Manager)

 John White (Partner, Fund Manager)

 Freddie Brooks (CFO)

 Peel Hunt LLP                                  020 7418 8900

 Luke Simpson / Liz Yong / Huw Jeremy

 Jefferies International                        020 7029 8000

 Tom Yeadon / Ed Matthews / Rishi Bhuchar

 Alvarium Securities Limited                    020 7016 6700

 Mark Thompson / Eddie Nissen / Oliver Kenyon

 H/Advisors Maitland (Communications Adviser)   07747 113 930 / 020 7379 5151

 James Benjamin / Alistair de-Kare-Silver       lxireit-maitland@maitland.co.uk

 

The Company's LEI is: 2138008YZGXOKAXQVI45

 

NOTES

LXI REIT plc invests in UK commercial property assets let, or pre-let, on long
(typically 20 to 30 years to expiry or first break), inflation-linked leases
to a wide range of strong tenant covenants across a diverse range of robust
property sectors.

 

The Company may invest in fixed-price forward funded developments, provided
they are pre-let to an acceptable tenant and full planning permission is in
place. The Company will not undertake any direct development activity nor
assume direct development risk.

 

The Company is targeting a dividend of 6.3 pence per ordinary share for the
year which commenced on 1 April 2022*.

 

The Company, a real estate investment trust ("REIT") incorporated in England
and Wales, is listed on the premium listing segment of the Official List of
the UK Financial Conduct Authority and was admitted to trading on the main
market for listed securities of the London Stock Exchange in February 2017.

 

The Company is a constituent of the FTSE 250, EPRA/NAREIT, MSCI and STOXX
Europe 600 indices.

 

Further information on the Company is available at www.lxireit.com
(http://www.lxireit.com)

 

*    This is a target and not profit forecast.

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