Alternative Income REIT PLC Revised Investment Advisory Agreement (5942Q)
March 01 2021 - 01:00AM
UK Regulatory
TIDMAIRE
RNS Number : 5942Q
Alternative Income REIT PLC
01 March 2021
THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND
IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN THE UNITED
STATES OF AMERICA, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA,
CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.
1 March 2021
Alternative Income REIT plc
(the "Company" or the "Group")
REVISED INVESTMENT ADVISORY AGREEMENT
The Board of Directors of Alternative Income REIT plc (ticker:
AIRE), the owner of a diversified portfolio of UK commercial
property assets predominantly let on long leases is pleased to
announce that it has agreed a revised Investment Advisory Agreement
("IAA") with M7 Real Estate Limited ("M7"), the Company's
Investment Adviser.
Under the revised IAA, which is effective from 1 April 2021, M7
will provide the Company with investment advice, fund accounting
and administration services, including strategy, debt advisory,
reporting, fund accounting and investment advisory services
together with asset management, operational advice, budgeting and
planning for the Group's portfolio.
M7 will be paid an annual fee of 0.5% of the Company's net asset
value paid quarterly in advance, subject to a minimum fee of
GBP90,000 per quarter.
Following discussions with the Company's largest shareholders,
the Board considered and approved the revised IAA as being in the
best interests of shareholders, providing the Company with
certainty and a cost-effective service under the terms of the
existing agreement with M7, the term of which ends on 31 March
2021, as announced on 18 May 2020. The revised IAA is subject to a
six month notice period, following the first six month period.
ENQUIRIES
Alternative Income REIT PLC via Maitland/AMO below
Steve Smith - Chairman
M7 Real Estate Ltd
Richard Croft +44 (0)20 3657 5500
Panmure Gordon (UK) Limited +44 (0)20 7886 2500
Alex Collins
Tom Scrivens
Chloe Ponsonby
Maitland/AMO (Communications Adviser) +44(0) 7747 113 930
James Benjamin james.benjamin@maitland.co.uk
The Company's LEI is 213800MPBIJS12Q88F71.
Further information on Alternative Income REIT plc is available
at www.alternativeincomereit.com (1)
NOTES
Alternative Income REIT PLC aims to generate a sustainable,
secure and attractive income return for shareholders from a
diversified portfolio of UK property investments, predominately in
alternative and specialist sectors. The majority of the assets in
the Group's portfolio are let on long leases which contain
inflation linked rent review provisions.
The Company's investment adviser is M7 Real Estate Limited
("M7"). M7 is a leading specialist in the pan-European, regional,
multi-tenanted real estate market. Majority owned by its senior
managers, it has over 200 employees in 14 countries across Europe.
The team manages over 835 properties with a value of circa EUR5.1
billion.
1 Neither the content of the Company's website, nor the content
on any website accessible from hyperlinks on its website or any
other website, is incorporated into, or forms part of, this
announcement nor, unless previously published on a Regulatory
Information Service, should any such content be relied upon in
reaching a decision as to whether or not to acquire, continue to
hold, or dispose of, securities in the Company.
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END
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