REG - Supermarket Inc REIT - Migration of listing to the Premium Segment

Supermarket Income REITAnnouncement

21/02/2022 12:15

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RNS Number : 3114C  Supermarket Income REIT PLC  21 February 2022

 

 

21 February 2022

 

SUPERMARKET INCOME REIT PLC

 

(the "Company" or together with its subsidiaries the "Group")

 

Migration of listing to the Premium Segment

 

Further to the announcement on 20 January 2022, the board of directors (the
"Board") of Supermarket Income REIT plc (LSE: SUPR), the real estate
investment trust providing secure, inflation-protected, long income from
grocery property in the UK, is pleased to announce that the Company has
received confirmation from the Financial Conduct Authority ("FCA") that it is
eligible for admission to the Premium Segment of the Official List of the FCA
(the "Official List").

Accordingly, the Company has made an application for 985,434,429 ordinary
shares of one pence each, representing the entire issued ordinary share
capital of the Company to be admitted to the Official List of the FCA and for
a transfer of the shares from trading on the Specialist Fund Segment to the
Premium Segment of the London Stock Exchange plc's Main Market (together, the
"Migration" or "Admission").

The Board believes that the Migration will facilitate the Company's
eligibility for inclusion in the FTSE UK and FTSE EPRA NAREIT Index Series,
which is expected to take place at the Q2 2022 index review, subject to
meeting the other relevant requirements for such inclusion.

Admission is expected to occur with effect from 8am on 23 February 2022. The
Company's ticker, ISIN and SEDOL will remain unchanged.

In conjunction with the application for Admission, the Group is required to
make a statement as to the sufficiency of its working capital. Accordingly,
the Board is of the opinion that the Group has sufficient working capital for
its present requirements, that is for at least the next 12 months from the
date of this announcement.

In connection with the Migration, the Company has made certain non-material
amendments to its investment restrictions. The investment policy and updated
restrictions will be made available upon Admission on the Company's website at
www.supermarketincomereit.com (http://www.supermarketincomereit.com/) .

Nick Hewson, Chairman of the Company, said:

"The Migration of Supermarket Income REIT to the Premium Segment of the
Official List is an important next step for the business, which has grown
significantly since listing in 2017, from £100 million to c.£1.2 billion
market capitalisation. This has been achieved through the support of our
shareholders and selective acquisitions that deliver a stable and growing
income return. The Migration brings a number of benefits, not least increased
liquidity in the shares and a broadening of the potential investor base."

 

 

For further information, please contact:

Atrato Capital Limited
 
+44 (0)20 3790 8087

Steve Noble / Rob Abraham / Kate
Heseltine                      ir@atratocapital.com

 

Stifel Nicolaus Europe Limited - Sole Sponsor
                +44 (0)20 7710 7600

Mark Young / Matthew Blawat / Rajpal Padam

 

FTI Consulting
 
                +44 (0)20 3727 1000

Dido Laurimore / Eve Kirmatzis / Andrew Davis
SupermarketIncomeREIT@fticonsulting.com

 

 

This announcement has been determined to contain inside information for the
purposes of the UK version of Market Abuse Regulation (EU) no. 596/2014, which
is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as
amended. The person responsible for arranging for the release of this
announcement on behalf of Supermarket Income REIT plc is Kate Heseltine -
Director, Investor Relations at Atrato Group.

 

 

NOTES TO EDITORS:

Supermarket Income REIT plc (LSE: SUPR) is a real estate investment trust
dedicated to investing in grocery properties which are an essential part of
the UK's feed the nation infrastructure. The Company focuses on grocery stores
which are omnichannel, fulfilling online and in-person sales. All of the
Company's 67 supermarkets((1)) are let to leading UK supermarket operators,
diversified by both tenant and geography.

 

The Company provides investors with attractive, long-dated, secure,
inflation-linked, growing income with the potential for capital appreciation
over the longer term and targets a 7% to 10% p.a. total shareholder return
over the medium term((2)). The Company has increased its dividend target in
line with inflation each year.

 

The Company's ordinary shares were admitted to trading on the Specialist Fund
Segment of the Main Market of the London Stock Exchange on 21 July 2017.

 

Atrato Capital Limited is the Company's Investment Adviser.

 

Further information is available on the Company's
website www.supermarketincomereit.com (http://www.supermarketincomereit.com/)
 

1.             41 directly owned supermarkets, plus 26 via joint
venture

2.             There is no certainty that these illustrative
projections will be achieved

 

 

 

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