Picton Property Inc. LondonMetric Schroder Real Estate - Cancellation of Admission to Trading

Londonmetric Property

11/09/2026 07:00

RNS Number : 2944U
  
Picton Property Income Limited
  
11 September 2026
  
 


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 SUCH JURISDICTION.
 
FOR IMMEDIATE RELEASE
11 September 2026
 
RECOMMENDED ALL-SHARE OFFER
for
PICTON PROPERTY INCOME LIMITED ("PICTON")

by
LONDONMETRIC PROPERTY PLC ("LONDONMETRIC") AND SCHRODER REAL ESTATE INVESTMENT TRUST LIMITED ("SREIT")
 
to be effected by means of a Court-sanctioned scheme of arrangement under Part VIII of the Companies (Guernsey) Law, 2008 (as amended)
 
CANCELLATION OF ADMISSION TO TRADING OF PICTON SHARES
Further to the announcement made by Picton on 10 September 2026 that the Scheme had become Effective in accordance with its terms, Picton today announces that, following applications by Picton to the FCA and the London Stock Exchange, the FCA has cancelled the listing of Picton Shares on the Official List and the London Stock Exchange has cancelled trading in Picton Shares on the Main Market, with effect from 8.00 a.m. today.
This announcement should be read in conjunction with the full text of the scheme document in relation to the Scheme which was published on 10 August 2026 (the "Scheme Document").
Capitalised terms used but not otherwise defined in this announcement shall have the same meanings as set out in the Scheme Document. All references to times in this announcement are to London times unless otherwise stated.
Enquiries:




LondonMetric Property Plc






Schroder Real Estate Investment Trust Limited




 










 








LondonMetric


+44 (0)20 7484 9000






SREIT


+44 (0)20 7658 6000




Andrew Jones
Martin McGann
Gareth Price










Nick Montgomery
Bradley Biggins
Katherine Fyfe








 




















Peel Hunt LLP


+44 (0)20 7418 8900






J.P. Morgan Cazenove


+44 (0)20 3493 8000




Joint Financial Adviser and Corporate Broker to LondonMetric


 


Sole Financial Adviser and Corporate Broker to SREIT




Capel Irwin
Michael Nicholson
Chloe Ponsonby
Henry Nicholls










James A. Kelly
William Simmonds
Paul Pulze
Ayoosh Choudhary






























Jefferies International Limited


+44 (0)20 7029 8000






FTI Consulting


+44 (0)20 3727 1000




Joint Financial Adviser to LondonMetric


 


PR Adviser to SREIT








Ed Matthews
Thomas Bective
Jee Lee
Shuo Jun Lin










Richard Gotla
Oliver Parsons






























Barclays Bank PLC


+44 (0)20 7623 2323
















Joint Financial Adviser and Corporate Broker to LLondonMetric
















Bronson Albery
Callum West
Mark Gunalan
Ronak Shah










































FTI Consulting


+44 (0)20 3727 1000
















PR Adviser to LondonMetric


 


 


 




Dido Laurimore




















Andrew Davis










































Picton Property Income Limited
















 




















Picton


+44 (0)20 7628 4800
















Michael Morris
Saira Johnston










































Stifel Nicolaus Europe Limited


+44 (0)20 7710 7600
















Sole Financial Adviser to Picton
















Mark Young
Jonathan Wilkes-Green
Jason Grossman
Catriona Neville




















 




















Panmure Liberum Limited


+44 (0)20 3100 2000
















Joint Corporate Broker to Picton




















David Watkins
Jamie Richards










































Tavistock


+44 (0)20 7920 3150
















PR Adviser to Picton




















James Verstringhe
James Whitmore
















 
Notices relating to financial advisers
Stifel Nicolaus Europe Limited ("Stifel"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Picton as financial adviser in connection with the matters set out in this announcement and is not acting for any other person and will not be responsible to any other person for providing the protections afforded to clients of Stifel, nor for advising any other person in connection with any matter referred to in this announcement. None of Stifel or any of its affiliates (or its or their respective directors, officers, employees or agents) owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Stifel in connection with this announcement, any statement contained herein or otherwise.
Panmure Liberum Limited ("Panmure Liberum"), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for Picton and no one else in connection with the matters set out in this announcement and will not be responsible to anyone other than Picton for providing the protections afforded to clients of Panmure Liberum nor for providing advice in relation to any matter referred to herein. Neither Panmure Liberum nor any of their respective partners, directors, officers, employees, advisers, consultants, affiliates or agents owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Panmure Liberum in connection with the matters referred to in this announcement, any statement contained herein or otherwise.
Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for LondonMetric and for no one else in connection with the matters referred to in this announcement and will not be responsible to any person other than LondonMetric for providing the protections afforded to clients of Peel Hunt, nor for providing advice in relation to the matters referred to herein. Neither Peel Hunt nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Peel Hunt in connection with the matters referred to in this announcement, or otherwise.
Jefferies International Limited ("Jefferies"), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting for LondonMetric and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than LondonMetric for providing the protections afforded to clients of Jefferies nor for providing advice in relation to any matter referred to in this announcement. Neither Jefferies nor any of its affiliates (nor their respective directors, officers, employees or agents) owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Jefferies in connection with this announcement, any statement contained herein or otherwise.
Barclays Bank PLC, acting through its Investment Bank ("Barclays"), which is authorised by the Prudential Regulation Authority and regulated in the United Kingdom by the Financial Conduct Authority and the Prudential Regulation Authority, is acting exclusively as financial adviser to LondonMetric and no one else in connection with the matters set out in this announcement and will not be responsible to anyone other than LondonMetric for providing the protections afforded to clients of Barclays nor for providing advice in relation to the matters set out in or referred to in this announcement.
In accordance with the Takeover Code, normal United Kingdom market practice and Rule 14e-5(b) of the US Exchange Act, Barclays and its affiliates will continue to act as exempt principal trader in LondonMetric, SREIT and Picton securities on the London Stock Exchange. These purchases and activities by exempt principal traders which are required to be made public in the United Kingdom pursuant to the Takeover Code will be reported to a Regulatory Information Service and will be available on the London Stock Exchange website at www.londonstockexchange.com. This information will also be publicly disclosed in the United States to the extent that such information is made public in the United Kingdom.
J.P. Morgan Securities plc, which conducts its UK investment banking business as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), is authorised in the United Kingdom by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority. J.P. Morgan Cazenove is acting as financial adviser and corporate broker exclusively for SREIT and no one else in connection with the Acquisition and related matters set out in this announcement and will not regard any other person as its client in relation to the Acquisition and related matters in this announcement and will not be responsible to anyone other than SREIT for providing the protections afforded to clients of J.P. Morgan Cazenove or its affiliates, nor for providing advice in relation to any matter referred to herein.
Further information
If you are in any doubt as to the contents of this announcement or the action which you should take, you are recommended to consult your stockbroker, solicitor, accountant, bank manager or other independent financial adviser duly authorised under the Financial Services and Markets Act 2000 (as amended) if you are resident in the United Kingdom, the Protection of Investors (Bailiwick of Guernsey) Law, 2020 if you are resident in Guernsey, or, if you are not so resident, from another appropriately authorised independent financial adviser.
Important notice
This announcement is for information purposes only and is not intended to and does not constitute, or form part of, an offer to sell or an invitation to purchase any securities or a solicitation of an offer to buy, otherwise acquire, subscribe for, sell or otherwise dispose of any securities pursuant to the Acquisition or otherwise, nor shall there be any purchase, sale, issuance or exchange of securities or such solicitation in any jurisdiction in which such offer, invitation, solicitation, purchase, sale, issuance or exchange is unlawful. This announcement does not constitute an offer to purchase, or a solicitation of an offer to sell, any financial product to, or for the account or benefit of, any person in Australia.
The statements contained in this announcement are made as at the date of this announcement, unless some other time is specified in relation to them, and the publication of this announcement shall not give rise to any implication that there has been no change in the facts set out in this announcement since such date.
No person should construe the contents of this announcement as legal, financial or tax advice. If you are in any doubt about the contents of this announcement, or the action you should take, you are recommended to seek your own independent financial advice immediately from your stockbroker, bank manager, solicitor, accountant or from an independent financial adviser duly authorised under FSMA if you are resident in the United Kingdom or the Protection of Investors (Bailiwick of Guernsey) Law, 2020 if you are resident in Guernsey.
 




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