Proposed Cancellation to Trading on AIM, Publication of Circular and Notice to convene the Annual General Meeting ( AGM ) The Company has today published a Circular incorporating its Notice of AGM with the proposal to, amongst other matters, seek Shareholders approval to de-list the Company from AIM pursuant to AIM Rule 41 (the Cancellation ) and re-register as a private company (the Re-registration ). The Directors have conducted a review of the various benefits and drawbacks to the Company and its Shareholders in relation to retaining its listing on AIM. The Directors unanimously believe that a potential Cancellation is in the best interest of the Company and its Shareholders, and have considered the following key factors (amongst others) in reaching a decision:
MARK (formerly the pan-European real estate investment manager, Meyer Bergman), the pan-European real estate investment manager, has raised £495 million for its last mile logistics fund Crossbay from a range of global investors, including Credit Suisse, Nuveen and CBRE GI. The fund was over subscribed by more than £150 million, showing the extent of interest from investors in UK last mile logistics.
Crossbay will target premises occupied by a single tenant near major gateway cities. Growth in France, Germany and the Benelux region is a high priority.
Crossbay s current tenant base includes a mix of 3PLs such as FedEx and DHL as well as e-commerce brands such as Amazon. The fund-raising comes as CoStar report that a City of London car park site has been earmarked as the first last mile logistics hub for the Square Mile. The 250-space car park at London Wall Buildings will be let to Amazon, who fought off competition from ten other bidders for the prime site.