REG - Regional REIT Ltd - Response to Press Speculation

Regional REITAnnouncement

12/03/2024 07:15

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RNS Number : 4256G  Regional REIT Limited  12 March 2024

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE FOR INFORMATION
PURPOSES ONLY AND DO NOT CONSTITUTE AN OFFER OF SECURITIES IN ANY
JURISDICTION.

This announcement contains certain inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"),
and is disclosed in accordance with the Company's obligations under Article 17
of MAR.

  12 March 2024

REGIONAL REIT LIMITED

("Regional REIT" or the "Company", together with its subsidiaries the "Group")

Response to press speculation

Further to the Q4 trading update published on 2 February 2024 and the dividend
declaration announcement on 22 February 2024 (together, the "Previous
Announcements"), Regional REIT (LSE: RGL) notes the recent press speculation
regarding the possibility of the Company undertaking an equity capital raise
of around £75 million.

As indicated in the Previous Announcements, the Company is actively exploring
a range of refinancing options, including debt and/or equity, in respect of
the existing £50 million retail bond (the "Retail Bond") given its maturity
date in August 2024.

The Company confirms that significant preparatory work has been undertaken to
date in respect of both the debt and equity options, which remain under active
consideration.

In the event that the Company proceeds with an equity issue, the Company
expects that it would be at a material discount to the Company's current share
price and would be subject to, amongst other things, shareholder approval.

The Company continues to consider its options and a further announcement will
be made when appropriate.

- ENDS -

 

Enquiries:

 

 Regional REIT Limited
 Press enquiries through Buchanan

 ARA Europe Private Markets Limited                      Tel: +44 (0) 20 7845 6100
 Investment Adviser to the Group
 Adam Dickinson, Investor Relations

 London & Scottish Property Investment Management        Tel: +44 (0) 141 248 4155
 Asset Manager to the Group
 Stephen Inglis

 Buchanan Communications                                 Tel: +44 (0) 20 7466 5000
 Financial PR
 Charles Ryland, Henry Wilson, George Beale

 

About Regional REIT

Regional REIT Limited ("Regional REIT" or the "Company") and its
subsidiaries (the "Group") is a United Kingdom ("UK") based real estate
investment trust that launched in November 2015. It is managed
by London & Scottish Property Investment Management Limited, the Asset
Manager, and ARA Europe Private Markets Limited, the Investment Adviser.

Regional REIT's commercial property portfolio is comprised wholly of income
producing UK assets and, predominantly, of offices located in the regional
centres outside of the M25 motorway. The portfolio is geographically
diversified, with 144 properties and 978 occupiers as at 31 December 2023,
with a valuation of c.£700.7m.

Regional REIT pursues its investment objective by investing in, actively
managing and disposing of regional core and core plus property assets. It aims
to deliver an attractive total return to its Shareholders, targeting greater
than 10% per annum, with a strong focus on income supported by additional
capital growth prospects.

The Company's shares were admitted to the Official List of
the UK's Financial Conduct Authority and to trading on the London Stock
Exchange on 6 November 2015. For more information, please visit the Group's
website at www.regionalreit.com (http://www.regionalreit.com/)  .

Cautionary Statement

This announcement has been prepared solely to provide additional information
to Shareholders to assess the Group's performance in relation to its
operations and growth potential. The announcement should not be relied upon by
any other party or for any other reason. Any forward looking statements made
in this announcement are done so by the Directors in good faith based on the
information available to them up to the time of their approval of this
document. However, such statements should be treated with caution due to the
inherent uncertainties, including both economic and business risk factors,
underlying any such forward-looking information.

ESMA Legal Entity Identifier ("LEI"): 549300D8G4NKLRIKBX73

 

 

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