REG - Picton Property Inc. - Strategic Review Update

Picton Property IncomeAnnouncement

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RNS Number : 2171X  Picton Property Income Limited  19 March 2026

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION.

 

THIS IS AN ANNOUNCEMENT UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND
MERGERS (THE "TAKEOVER CODE") AND IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION
BY ANY PARTY TO MAKE AN OFFER UNDER RULE 2.7 OF THE TAKEOVER CODE. THERE CAN
BE NO CERTAINTY THAT AN OFFER WILL BE MADE FOR PICTON PROPERTY INCOME LIMITED,
NOR AS TO THE TERMS ON WHICH ANY OFFER MAY BE MADE.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

 

19 March 2026

 

PICTON PROPERTY INCOME LIMITED

('Picton' or the 'Company')

 

Strategic Review Update and Publication of Annual Results

 

 

On 13 January 2026, Picton announced a Strategic Review and Formal Sale
Process in order to explore options to maximise value for shareholders.

 

The Board has since engaged with investors and stakeholders to gather their
views and feedback.

 

The Board is pleased to have received proposals regarding the Strategic Review
and Formal Sale Process from a wide range of interested parties and with a
variety of structures. The Company is progressing with a shortlisted number of
these proposals in order to determine a preferred option.

 

In light of the above, the Board has decided to delay the release of the
Annual Results from 21 May 2026 to a later date.

 

The Company will provide further updates as appropriate.

 

 

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 £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
UK 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

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 Unaudited NAV as at 31 December 2025 (the
'31 December NAV') referenced in the NAV and Trading Update issued on 29
January 2026 and the portfolio valuation of £699.1 million (the 'Portfolio
Valuation') referred to above 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 and 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.

 

ENDS

 

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