DGAP-Ad-hoc: Capital & Counties Properties PLC / Key word(s): Merger Capital & Counties Properties PLC: Possible all-share merger of Shaftesbury PLC and Capital & Counties Properties PLC 09-May-2022
Financial Advisers
J.P. Morgan Securities plc, which conducts its UK investment banking business as J.P. Morgan Cazenove ( J.P. Morgan Cazenove ), is authorised in the United Kingdom by the PRA and regulated by the PRA and the FCA. J.P. Morgan Cazenove is acting as financial adviser exclusively for RDI REIT and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the Acquisition and will not be responsible to anyone other than RDI REIT for providing the protections afforded to clients of J.P. Morgan Cazenove or its affiliates, nor for providing advice in connection with the Acquisition or any matter referred to herein.
RDI is an income focused UK Real Estate Investment Trust (UK-REIT) with a diversified portfolio invested principally in the UK. The investment approach is driven by an in depth understanding of occupational demand including the impact of technology, transport and infrastructure investment. The portfolio has been repositioned in recent years to increase its weighting to London and the South East and to provide greater exposure to our leading hotel and serviced office operating platforms. RDI is committed to delivering attractive income led total returns across the real estate cycle. The current strategic objectives of a lower leverage capital structure and more focused allocation of capital are targeted at delivering an industry leading and sustainable income return.
Finalisation Announcement 1. INTRODUCTION On 26 February 2021, the independent directors of RDI REIT P.L.C. ( RDI REIT ) and the board of SOF-12 Cambridge BidCo Limited ( Bidco ) announced that they had agreed the terms of a recommended cash offer to be made by Bidco for the entire issued and to be issued share capital of RDI REIT, other than RDI REIT Shares already owned or controlled by Starwood Funds or their affiliates (the Acquisition ) to be implemented by way of a court sanctioned scheme of arrangement under Chapter 2 of Part X of the Isle of Man Companies Act 2006 (the Scheme ). The circular in relation to the Scheme (the Scheme Document ) was published on 25 March 2021.