REG - Picton Property Inc. - Response to Press Speculation

Picton Property IncomeAnnouncement

11/02/2026 10:15

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RNS Number : 6010S  Picton Property Income Limited  11 February 2026

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER MIGHT BE MADE
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE

 

11 February 2026

 

PICTON PROPERTY INCOME LIMITED

('Picton' or the 'Company')

 

Response to Press Speculation

 

 

The Board of Picton notes recent media speculation and confirms interest from
LondonMetric Property PLC in relation to its Strategic Review and Formal Sale
Process.

 

The Company looks forward to progressing discussions with all interested
parties and will update the market as and when appropriate.

 

Code dispensations

As previously announced, the Takeover Panel Executive has granted a
dispensation from the requirements of Rules 2.4(a), 2.4(b) and 2.6(a) of the
Code such that: (i) Picton is not required to identify in this announcement
any potential offeror with which the Company is in talks, or from which an
approach has been received, unless that potential offeror is specifically
identified in any rumour or speculation; and (ii) LondonMetric Property PLC
will not be subject to the 28 day deadline referred to in Rule 2.6(a) of the
Code so long as LondonMetric Property PLC is participating in the process.

 

LondonMetric Property PLC has not made an offer for Picton and there can be no
certainty that an offer will be made nor to the terms of any offer if made.

 

The person responsible for arranging release of this announcement on behalf of
Picton is Kathy Thompson, Company Secretary.

 

 For further information:

Picton
 Kathy Thompson, Company Secretary
 020 7011 9988

 

Stifel (Financial Adviser to Picton)
 Mark
 Young

 Jonathan Wilkes-Green

 Andrew Yeo

 Jason Grossman

 Mark Whitfeld (Corporate Sales)

 020 7710 7600

 Tavistock
 James Verstringhe, James Whitmore, Olivia Rhodes
 020 7920 3150

 

 About Picton

 Established in 2005, Picton is listed on the main market of the London Stock
 Exchange and is a constituent of a number of EPRA indices including the FTSE
 EPRA Nareit Global Index.

 Picton owns and actively manages a £699 million UK commercial property
 portfolio, invested across 46 assets and with around 300 occupiers (as at 31
 December 2025).

 Through an occupier focused, opportunity led approach, Picton aims to be the
 consistently best performing diversified UK REIT and has delivered upper
 quartile outperformance and a consistently higher income return than the MSCI
 Quarterly Property Index since launch.

 With a portfolio strategically positioned to capture income and capital
 growth, currently weighted towards the industrial sector, Picton's agile
 business model provides flexibility to adapt to evolving market trends over
 the long-term.

 Picton has a responsible approach to business and is committed to being net
 zero carbon by 2040.

 LEI: 213800RYE59K9CKR4497

 

 Stifel (Financial Adviser to Picton)
 Mark
 Young

 Jonathan Wilkes-Green

 Andrew Yeo

 Jason Grossman

 Mark Whitfeld (Corporate Sales)

 020 7710 7600

 Tavistock
 James Verstringhe, James Whitmore, Olivia Rhodes
 020 7920 3150

 

 

About Picton

 

Established in 2005, Picton is listed on the main market of the London Stock
Exchange and is a constituent of a number of EPRA indices including the FTSE
EPRA Nareit Global Index.

 

Picton owns and actively manages a £699 million UK commercial property
portfolio, invested across 46 assets and with around 300 occupiers (as at 31
December 2025).

 

Through an occupier focused, opportunity led approach, Picton aims to be the
consistently best performing diversified UK REIT and has delivered upper
quartile outperformance and a consistently higher income return than the MSCI
Quarterly Property Index since launch.

 

With a portfolio strategically positioned to capture income and capital
growth, currently weighted towards the industrial sector, Picton's agile
business model provides flexibility to adapt to evolving market trends over
the long-term.

 

Picton has a responsible approach to business and is committed to being net
zero carbon by 2040.

 

LEI: 213800RYE59K9CKR4497

 

 

Notices related to financial adviser

Stifel Nicolaus Europe Limited, which is authorised and regulated by the
Financial Conduct Authority in the United Kingdom, is acting exclusively for
Picton and for no one else in connection with the subject matter of this
announcement and will not be responsible to anyone other than Picton for
providing the protections afforded to its clients or for providing advice in
connection with the subject matter of this announcement.

 

Rule 29 of the Takeover Code (the 'Code')

Following the publication of the Company's Strategic Review and Commencement
of Formal Sale Process on 13 January 2026, the Company is in an offer period
for the purposes of the Code. The portfolio valuation of £699 million (the
'Portfolio Valuation') referred to in this announcement and the presentation
constitute asset valuations in accordance with Rule 29.1 of the Code.  The
Company has agreed with the Takeover Panel that in the event of a firm offer
being announced for the Company, a valuation report in accordance with Rule 29
of the Code on the 31 December NAV or the Portfolio Valuation or any
subsequent net asset value or portfolio valuation published by the Company
prior to date of such offer will be published in due course and by no later
than the publication of any offer document or scheme document in relation to
such offer.

Publication on website

In accordance with Rule 26.1 of the Code, a copy of this announcement will be
made available (subject to certain restrictions relating to persons resident
in restricted jurisdictions) on the Company's website: www.picton.co.uk
(http://www.picton.co.uk) promptly following its publication and in any event
no later than 12 noon (London time) on the business day following the release
of this announcement. Neither the content of any website referred to in this
announcement nor the content of any website accessible from hyperlinks is
incorporated into, or forms part of, this announcement.

 

 

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