UK shareholder meetings calendar - next 7 days
6th Aug 2024 14:33
(Alliance News) - abrdn Property Income Trust Ltd on Tuesday said that the office real estate sector still has not recovered to its pre-Covid levels amid high inflation and interest rates, but touted optimism in its outlook. Read More
abrdn Property Income Trust Ltd - real estate trust - Completes sale of two assets for a combined price of GBP13.2 million, which is a 1.5% premium to the December valuation. One is the Monkton Business Park in Hebburn, a single-let industrial unit let to Hitachi Construction Machinery Ltd, for GBP5.3 million, or a 6% premium. The other one is King's Business Park in Bristol for GBP7.9 million, a 1.25% discount to the December valuation. Deputy Fund Manager Mark Blyth says: "Following on from the two sales last month, we're pleased to have completed these further disposals at Hebburn and Bristol at a premium to the December valuation. As with the previous sales, the proceeds will be used to pay down the company's rolling credit facility." Read More
(Alliance News) - Stock prices in London were up at midday on Thursday, shaking off some hawkish words from a US central banker and fresh number reiterating the UK entered a recession at the end of 2023. Read More
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday. Read More
(Alliance News) - Shares in Custodian Property Income REIT PLC on Thursday jumped after a planned all-share merger with abrdn Property Income Trust Ltd was thwarted. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday. Read More
(Alliance News) - Abrdn Property Income Trust Ltd on Thursday provided an update on the proposed all-share merger with Custodian Property Income REIT PLC. Read More
<p>(Alliance News) - Custodian Property Income REIT PLC on Wednesday said that it believed the proposed merger with abrdn Property Income Trust Ltd had a "compelling strategic and financial rationale", as the pair agreed to extend the merger commitment date to Friday. <br /><br />Custodian and abrdn are real estate investment trusts with a portfolio of properties in the UK.<br /><br />In January, the pair agreed terms for an all-share merger, which would create a real estate investment trust with combined assets totalling GBP1.0 billion.<br /><br />Per the agreement, abrdn Property Income shareholders will receive 0.78 new Custodian shares for each share in the company.<br /><br />On Tuesday, Custodian reaffirmed its belief that the merger holds a "compelling strategic and financial rationale".<br /><br />The company said that it would be waiving its one-off project fee in connection with the merger, which amounted to GBP350,000. <br /><br />Custodian also announced a reduction in the management fees payable to its investment manager, Custodian Capital Ltd, for a period of two years following the merger's completion. This fee will now calculated as 0.75% of the combined group's net asset value less than or equal to GBP500 million, changed from 0.9% in respect of NAV up to GBP200 million and 0.75% up to GBP500 million.<br /><br />Custodian said that thesee amendments "reinforce the financial rationale of the recommended merger and represents further alignment between CREI, Custodian Capital and the shareholders of the combined group".<br /><br />Custodian urged abrdn shareholders to not take action regarding the separate offer by Urban Logistics REIT PLC for abrdn. In February, Urban Logistics offered abrdn shareholders 0.47 of its shares for each share in the company. Shares in Urban Logistics are currently flat at 118.00 pence each in London on Wednesday.<br /><br />In a separate announcement, abrdn said that the deadline for Custodian to make a firm intention to continue with the merger or confirm that it does not want to participate in the scheme has been extended to Friday at 5pm. Both abrdn and Custodian have agreed to these terms.<br /><br />Shares in Custodian were down 1.3% at 77.00 pence each. Shares in abrdn were down 0.2% at 55.00 pence each, both in London on Wednesday.<br /><br />By Hugh Cameron, Alliance News reporter<br /><br />Comments and questions to [email protected]<br /><br />Copyright 2024 Alliance News Ltd. All Rights Reserved.</p> Read More
(Alliance News) - Urban Logistics REIT PLC on Friday said it has until March 15 to "clarify its intentions" with abrdn Property Income Trust Ltd. Read More
(Alliance News) - Urban Logistics REIT PLC has made an offer for abrdn Property Income Trust Ltd, both companies confirmed on Tuesday. Read More