(Alliance News) - Urban Logistics REIT PLC on Thursday said it has completed lettings over five units totalling GBP3.0 million in annual rent since September. Read More
(Alliance News) - The following London-listed shares received analyst recommendations on Monday morning and on Friday: Read More
Urban Logistics REIT PLC - UK-focused logistics real estate investment trust - Completes share buyback programme launched on November 26. Repurchases 6.9 million shares for a total GBP7.4 million. All shares will be held in the treasury for later reissue or cancellation. Read More
Urban Logistics REIT PLC - UK-focused logistics real estate investment trust - announces the start of a discretionary share buyback programme worth up to GBP7.5 million, with Panmure Liberum managing the process. The share buyback will reduce the company's share capital to boost earnings and net asset value per share. Read More
(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Tuesday and Wednesday and not separately reported by Alliance News: Read More
(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and on Thursday: Read More
(Alliance News) - Urban Logistics REIT PLC on Thursday said profit fell nearly 50% during the first half of its current financial year, as the logistics property investor said empty space has taken longer than expected to rent out. Read More
(Alliance News) - Urban Logistics REIT PLC on Thursday said that it is "well set" to eventually increase its dividend, after swinging back to profit in the year just ended. Read More
(Alliance News) - Urban Logistics REIT PLC on Wednesday reported that it saw continued progress in the fourth quarter of its financial year, which it said was marked by significant like-for-like rental increases and a number of new lettings. Read More
(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday: Read More
(Alliance News) - The following London-listed shares received analyst recommendations Friday morning: 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 updates by London-listed companies, issued on Monday and not separately reported by Alliance News: 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