REG - Picton Property Inc. - Share Buyback Programme – Update

Picton Property IncomeAnnouncement

04/04/2025 07:00

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RNS Number : 6220D  Picton Property Income Limited  04 April 2025

 

 

4 April 2025

 

PICTON PROPERTY INCOME LIMITED

('Picton' or the 'Company')

Share Buyback Programme - Update

 

 

Further to the announcements on 30 January 2025 and 7 February 2025 Picton
has, since the commencement of the share buyback programme (the 'Programme'),
bought back 11,705,596 Ordinary Shares for consideration of approximately
£7.8 million.

 

Following completion of the asset disposal announced on 31 March 2025, the
Company today announces a 25% increase in the maximum aggregate consideration
of the Programme, from £10 million to £12.5 million, to enable the programme
to continue until the release of the Company's annual results. The programme
will conclude no later than 21 May 2025.

 

The Board continues to believe that the share price materially undervalues the
Company, and that the Programme represents an attractive use of proceeds,
alongside continued investment into the existing portfolio.

 

All other details announced regarding the Programme remain unchanged.

 

 

For further information:

 

Picton

Kathy Thompson, Company Secretary

020 7011 9988, kathy.thompson@picton.co.uk
(mailto:kathy.thompson@picton.co.uk)

 

Tavistock

James Verstringhe

020 7920 3150, james.verstringhe@tavistock.co.uk
(mailto:james.verstringhe@tavistock.co.uk)

 

 

 

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 £737 million UK commercial property
portfolio, invested across 48 assets and with around 350 occupiers (as at 31
December 2024).

 

Through an occupier focused, opportunity led approach, Picton aims to be one
of the consistently best performing diversified UK REITs 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.

 

For more information please visit: www.picton.co.uk (http://www.picton.co.uk)

 

LEI: 213800RYE59K9CKR4497

 

 

ENDS

 

 

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