Results of Issue and PrimaryBid Offer

The Board of Supermarket Income REIT plc is pleased to announce that it has successfully raised gross proceeds of £300 million pursuant to the Issue and a further £6.7 million gross proceeds pursuant to the PrimaryBid Offer.

The Board determined to increase the size of the Issue from £175 million to £300 million after careful consideration of:

• the extremely strong level of support and quality of demand from investors in the Issue, which materially exceeded the 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.

Notwithstanding the increase in the Issue size, investor demand substantially exceeded the maximum size of the Issue and the PrimaryBid Offer, as such a material scaling back exercise was undertaken.

247,933,884 and 5,558,276 new Ordinary Shares will be issued pursuant to the Issue and the PrimaryBid Offer respectively (together, the “New Ordinary Shares”).

Applications will be made to the FCA and the London Stock Exchange for the 253,492,160 New Ordinary Shares to be admitted 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 New Ordinary Shares will, when issued, be 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).

Following Admission, the Company will have 1,239,037,822 Ordinary Shares in issue. The total voting rights in the Company will be 1,239,037,822 and this figure may be used by Shareholders as the denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.

The following Directors of the Company have participated in the issue. Details of such subscriptions in the issue are as follows:

• Nick Hewson* subscribed for 47,107 shares and now holds 661,672 shares
• Jon Austen* subscribed for 49,586 shares and now holds 279,779 shares
• Cathryn Vanderspar* subscribed for 16,528 shares and now holds 91,738 shares

*Number of shares held after the issue includes their respective families’ holdings

The Company shortly will also be making a notification and public disclosure of transactions by the Directors and persons discharging managerial responsibilities and persons closely associated with them in accordance with the requirements of UK MAR giving more details of the above dealings.

Nick Hewson, Chairman of the Company, said:

“We have seen extremely strong demand for this issue. We are grateful for the continued support of our existing shareholders and are pleased to welcome new investors, some of whom were able to participate for the first time following the migration of the Company onto the premium segment of the Official List earlier this year.

The team’s focus is now on deploying the capital efficiently into our pipeline of opportunities. We have £150 million of assets currently in exclusivity and a growing number of additional assets in our pipeline, representing opportunities in aggregate of over £700 million.”

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