Supermarket Income REIT: Increase in Pipeline and Issue Size

26th April 2022 | Supermarket Income REIT plc

Increase in Pipeline and Issue Size

Further to the Company’s announcement on 7 April 2022, the Board of Supermarket Income REIT plc has decided to increase the target size of the Issue from approximately £175 million up to a maximum of £300 million. This decision has been made following careful consideration of the strong level of support received from potential investors, which materially exceeds the initial target Issue size; the Investment Adviser’s confidence in acquiring assets in the pipeline; and the increase in the availability of attractive investment opportunities since the marketing roadshow began.

The timetable pursuant to the Issue remains unchanged, except that the latest time and date for the receipt of commitments under the Issue is now 1 p.m. on 26 April 2022. The results of the Issue are expected to be announced on 27 April 2022.

The New Ordinary Shares will be issued and credited as fully paid and will rank pari passu with the existing Ordinary Shares (save for any dividends or other distributions declared, made or paid on the Ordinary Shares by reference to a record date prior to the allotment of the New Ordinary Shares). The New Ordinary Shares will be issued in registered form and will be capable of being held in both certificated and uncertificated form.

Applications will be made to the FCA and the London Stock Exchange for admission of the New Ordinary Shares to the premium listing segment (closed-ended investment funds) of the Official List of the FCA and to trading on the premium segment of the London Stock Exchange’s Main Market for listed securities. It is expected that Admission will become effective on, and that dealings for normal settlement in the New Ordinary Shares will commence by, 8 a.m. on 29 April 2022.

The Issue is being conducted in accordance with the terms and conditions contained in the Appendix to the Proposed Issue of New Ordinary Shares announcement published by the Company on 7 April 2022, as amended by this announcement.

The Issue is not underwritten. The Issue may be scaled back by the Directors for any reason, including where it is necessary to scale back allocations to ensure the Issue proceeds align with the Company’s post fundraise acquisitions and leverage targets.

Expected timetable

  • Latest time and date for receipt of commitments under the Issue: –  1 p.m. on 26 April 2022
  • Results of the Issue announced: – by close of business on 27 April 2022
  • Admission and dealings in New Ordinary Shares commence: – 8 a.m. on 29 April 2022

The dates set out in the expected timetable above may be adjusted by the Company. In such circumstances, detail of the new dates will be notified to the Financial Conduct Authority and the London Stock Exchange and an announcement will be made through a Regulatory Information Service.

Dealing codes

Ticker: SUPR

ISIN for the New Ordinary Shares: GB00BF345X11

SEDOL for the New Ordinary Shares: BF345X1

The Company’s legal entity identifier: 2138007FOINJKAM7L537

Below is a video, shot with the investment team of Atrato Group, the advisors behind SUPR, highlighting the Group’s investment strategy

VIDEO: Supermarket Income REIT

Supermarket Income REIT Video

Click here to view Supermarket Income REIT investor relations films