TIDMLXI
RNS Number : 8463C
LXI REIT PLC
23 June 2021
23 June 2021
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, NEW ZEALAND,
CANADA, SINGAPORE, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY
MEMBER STATE OF THE EEA (OTHER THAN ANY MEMBER STATE OF THE EEA
WHERE THE COMPANY'S SECURITIES MAY BE LEGALLY MARKETED), OR ANY
OTHER JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL, OR TO ANY
NATIONAL, RESIDENT OR CITIZEN OF THE UNITED STATES, AUSTRALIA, NEW
ZEALAND, CANADA, SINGAPORE, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR
ANY MEMBER STATE OF THE EEA
This announcement is an advertisement and does not constitute a
prospectus and investors must subscribe for any shares referred to
in this announcement only on the basis of information contained in
the summary, registration document and securities note published by
LXi REIT plc on 18 February 2021 as supplemented by the
Supplementary Prospectus (as defined below) and not in reliance on
this announcement. A copy of the prospectus is, and a copy of the
Supplementary Prospectus will shortly be, subject to certain access
restrictions, available for inspection on the Company's website:
www.lxireit.com/company-documents and at the registered office of
the Company at at 1st Floor Senator House, 85 Queen Victoria
Street, London EC4V 4AB. This announcement does not constitute, and
may not be construed as, an offer to sell or an invitation to
purchase, investments of any description, or a recommendation
regarding the issue or the provision of investment advice by any
party
LXi REIT plc
(the "Company" or "LXi REIT")
Publication of Supplementary Prospectus
The Company announces the publication today of a supplementary
prospectus (the "Supplementary Prospectus"). The publication of the
Supplementary Prospectus follows the release of the Company's
annual results for the year ended 31 March 2021.
The Supplementary Prospectus is supplemental to, and should be
read in conjunction with, the summary, registration document and
securities note published by the Company on 18 February 2021 (the
"Prospectus").
The Supplementary Prospectus will be available, subject to
certain access restrictions, on the Company's website
(www.lxireit.com/company-documents), at the Company's registered
office at 1st Floor Senator House, 85 Queen Victoria Street, London
EC4V 4AB, and at the National Storage Mechanism via
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
FOR FURTHER INFORMATION, PLEASE CONTACT:
LXI REIT Advisors Limited Via Maitland/AMO
John White
Simon Lee
Freddie Brooks
Peel Hunt LLP (Sponsor, Joint Broker)
Luke Simpson, Liz Yong, Huw Jeremy,
Tom Pocock (IBD)
Alex Howe, Chris Bunstead (Sales) 020 7418 8900
---------------------------------
J efferies International Limited and
Jefferies GmbH (Joint Broker)
Ed Matthews - ematthews1@jefferies.com
Tom Yeadon - tyeadon@jefferies.com 020 7029 8000
---------------------------------
Maitland/AMO (Communications Adviser) 07747 113 930
James Benjamin lxireit-maitland@maitland.co.uk
---------------------------------
The Company's LEI is: 2138008YZGXOKAXQVI45
NOTES:
LXI REIT plc invests in UK commercial property assets let, or
pre-let, on long-term, triple-net, inflation-linked leases to a
wide range of strong tenant covenants across a diverse range of
robust property sectors.
The Company aims to provide shareholders with an attractive
return, in the form of quarterly income distributions and with the
potential for capital and income growth from key strategies which
include indexed rental uplifts, pre-let forward fundings, sale and
leasebacks, and off-market, value driven acquisitions and
sales.
The Company is targeting an annual dividend of 6.0 pence per
ordinary share for the 12-months commencing 1 April 2021* and has
delivered an average total NAV return of 10.1% pa since IPO to 31
March 2021. The Group's medium-term total return target is a
minimum of 8% pa.
The Company, a real estate investment trust ("REIT")
incorporated in England and Wales, is listed on the premium listing
segment of the Official List of the UK Listing Authority and was
admitted to trading on the main market for listed securities of the
London Stock Exchange in February 2017.
The Company is a constituent of the FTSE 250, FTSE EPRA/NAREIT
and MSCI indices.
Further information on the Company is available at
www.lxireit.com
* These are guidance levels or targets only and not a profit
forecast. In setting this target the Board has applied
sensitivities to contracted rental income that reflect the possible
impact of the COVID-19 pandemic and assessed the effect of such
sensitivities on the net earnings and liquidity of the Group. The
target assumes that future rent collection is not materially lower
than that achieved so far throughout the pandemic and the Board
reserves the right to withdraw or amend guidance in the event that
rent collection materially worsens.
There can be no assurance that this target will be met and it
should not be taken as an indication of the Group's expected future
results which may be impacted by events or circumstances existing
or arising after the date that the annual dividend target was
announced.
Disclaimer
This announcement is an advertisement and does not constitute a
prospectus and investors must subscribe for or purchase any shares
referred to in this announcement only on the basis of information
contained in the Prospectus published by the Company, as
supplemented by the Supplementary Prospectus, and not in reliance
on this announcement. Copies of the Prospectus and Supplementary
Prospectus may, subject to any applicable law, be obtained from the
registered office of the Company and at the National Storage
Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
and on the Company's website, www.lxireit.com/company-documents.
Neither the content of the Company's website, nor the content on
any website accessible from hyperlinks on its website for any other
website, is incorporated into, or forms part of, this announcement
nor, unless previously published by means of an RIS announcement,
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. This announcement does not constitute,
and may not be construed as, an offer to sell or an invitation to
purchase investments of any description or a recommendation
regarding the issue or the provision of investment advice by any
party. No information set out in this announcement is intended to
form the basis of any contract of sale, investment decision or any
decision to purchase shares in the Company. Approval of the
Prospectus and Supplementary Prospectus by the FCA should not be
understood as an endorsement of the securities that are the subject
of the Prospectus and Supplementary Prospectus. Potential investors
are recommended to read the Prospectus and Supplementary Prospectus
before making an investment decision in order to fully understand
the potential risks and rewards associated with a decision to
invest in the Company's securities.
This announcement is not for release, publication or
distribution, directly or indirectly, in or into the United States
(including its territories and possessions, any state of the United
States and the District of Columbia, collectively, the "United
States"). This announcement is not an offer of securities for sale
in or into the United States. The New Ordinary Shares have not
been, and will not be, registered under the US Securities Act 1933,
as amended (the "US Securities Act"), or with any securities
regulatory authority of any state or other jurisdiction of the
United States, and may not be offered or sold into or within the
United States, absent registration under, or except pursuant to an
exemption from the registration requirements of, the US Securities
Act, and in compliance with any applicable securities laws of any
state or other jurisdiction in the United States. No public
offering of securities is being made in the United States.
In addition the Company has not been and will not be registered
under the US Investment Company Act of 1940, as amended.
Further, this announcement is not for release, publication or
distribution into Australia, New Zealand, Canada, Singapore, the
Republic of South Africa, Japan or any member state of the EEA
(other than any member state of the EEA where the Company's
securities may be lawfully marketed) or any other jurisdiction
where such distribution is unlawful.
The distribution of this announcement may be restricted by law
in certain jurisdictions and persons into whose possession any
document or other information referred to herein comes should
inform themselves about and observe any such restriction. Any
failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdiction. Each of
Peel Hunt LLP ("Peel Hunt"), Jefferies International Limited, both
of which are authorised and regulated in the United Kingdom by the
FCA, and Jefferies GmbH, registered in Germany and authorised and
regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht
(together, Jefferies International Limited and Jefferies GmbH,
being "Jefferies"), is acting exclusively for the Company and for
no-one else and will not regard any other person (whether or not a
recipient of this announcement or the Prospectus or Supplementary
Prospectus) as its client in relation to the Share Issuance
Programme and the other arrangements referred to in the Prospectus
or Supplementary Prospectus and will not be responsible to anyone
other than the Company for providing the protections afforded to
its clients, nor for providing advice in connection with the Share
Issuance Programme, any Admission and the other
arrangements referred to in this announcement and in the
Prospectus or Supplementary Prospectus.
The value of shares and the income from them is not guaranteed
and can fall as well as rise due to stock market and currency
movements. When you sell your investment you may get back less than
you originally invested. Figures refer to past performance and past
performance is not a reliable indicator of future results. Returns
may increase or decrease as a result of currency fluctuations.
This announcement contains forward looking statements,
including, without limitation, statements including the words
"believes", "estimates", "anticipates", "expects", "intends",
"may", "will" or "should" or, in each case, their negative or other
variations or comparable terminology. Such forward looking
statements involve unknown risks, uncertainties and other factors
which may cause the actual results, financial condition,
performance or achievements of the Company, or industry results, to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements.
These forward-looking statements speak only as at the date of
this announcement and cannot be relied upon as a guide to future
performance. The Company, the Investment Advisor, the AIFM, Peel
Hunt and Jefferies expressly disclaim any obligation or undertaking
to update or revise any forward-looking statements contained herein
to reflect actual results or any change in the assumptions,
conditions or circumstances on which any such statements are based
unless required to do so by the Financial Services and Markets Act
2000, the Prospectus Regulation Rules of the Financial Conduct
Authority, the UK Market Abuse Regulation or other applicable laws,
regulations or rules.
The information in this announcement is for background purposes
only and does not purport to be full or complete. None of Peel Hunt
or Jefferies, or any of their respective affiliates, accepts any
responsibility or liability whatsoever for, or makes any
representation or warranty, express or implied, as to this
announcement, including the truth, accuracy or completeness of the
information in this announcement (or whether any information has
been omitted from the announcement) or any other information
relating to the Company or associated companies, whether written,
oral or in a visual or electronic form, and howsoever transmitted
or made available or for any loss howsoever arising from any use of
the announcement or its contents or otherwise arising in connection
therewith. Peel Hunt and Jefferies, and their affiliates,
accordingly disclaim all and any liability whether arising in tort,
contract or otherwise which they might otherwise be found to have
in respect of this announcement or its contents or otherwise
arising in connection therewith.
In connection with any Subsequent Issue under the Share Issuance
Programme, Peel Hunt and/or Jefferies, and any of their affiliates,
may take up a portion of the New Ordinary Shares as a principal
position and in that capacity may retain, purchase, sell, offer to
sell for their own accounts such New Ordinary Shares and other
securities of the Company or related investments in connection with
the relevant Subsequent Issue or otherwise. Accordingly, references
in the Prospectus to the New Ordinary Shares being issued, offered,
subscribed, acquired, placed or otherwise dealt in should be read
as including any issue or offer to, or subscription, acquisition,
placing or dealing by, Peel Hunt and any of its affiliates and/or
Jefferies and any of its affiliates acting in such capacity. In
addition Peel Hunt and/or Jefferies, and any of their affiliates
may enter into financing arrangements (including swaps or contracts
for differences) with investors in connection with which Peel Hunt
and/or Jefferies, and any of their affiliates may from time to time
acquire, hold or dispose of Ordinary Shares. Peel Hunt and
Jefferies do not intend to disclose the extent of any such
investment or transactions otherwise than in accordance with any
legal or regulatory obligations to do so.
Information to Distributors
Solely for the purposes of the product governance requirements
contained within: (a) the UK's implementation of EU Directive
2014/65/EU on markets in financial instruments, as amended ("UK
MiFID II"); and (b) the UK's implementation of Articles 9 and 10 of
Commission Delegated Directive (EU) 2017/593 supplementing UK MiFID
II, and in particular Chapter 3 of the Product Intervention and
Product Governance Sourcebook of the FCA (together, the "MiFID II
Product Governance Requirements"), and disclaiming all and any
liability whether arising in tort, contract or otherwise, which any
"manufacturer" (for the purposes of the MiFID II Product Governance
Requirements) may otherwise have with respect thereto, the New
Ordinary Shares have been subject to a product approval process,
which has determined that such securities are: (i) compatible with
an end target market of retail investors and investors who meet the
criteria of professional clients and eligible counterparties, each
as defined in UK MiFID II; and (ii) eligible for distribution
through all distribution channels as are permitted by UK MiFID II
(the "Target Market Assessment"). Notwithstanding the Target Market
Assessment, distributors (such term to have the same meaning as in
the MiFID II Product Governance Requirements) should note that: the
market price of the New Ordinary Shares may decline and investors
could lose all or part of their investment; the New Ordinary Shares
offer no guaranteed income and no capital protection; and an
investment in the New Ordinary Shares is compatible only with
investors who do not need a guaranteed income or capital
protection, who (either alone or in conjunction with an appropriate
financial or other adviser) are capable of evaluating the merits
and risks of such an investment and who have sufficient resources
to be able to bear any losses that may result therefrom. The Target
Market Assessment is without prejudice to the requirements of any
contractual, legal or regulatory selling restrictions in relation
to the Inital Issue and/or Share Issuance Programme. Furthermore,
it is noted that, notwithstanding the Target Market Assessment,
Peel Hunt and Jefferies have only, and will only, procure investors
(pursuant to the Initial Issue and Share Issuance Programme) who
meet the criteria of professional clients and eligible
counterparties. For the avoidance of doubt, the Target Market
Assessment does not constitute: (a) an assessment of suitability or
appropriateness for the purposes of UK MiFID II; or (b) a
recommendation to any investor or group of investors to invest in,
or purchase, or take any other action whatsoever with respect to
the New Ordinary Shares. Each distributor is responsible for
undertaking its own target market assessment in respect of the New
Ordinary Shares and determining appropriate distribution
channels.
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END
PSPUOUKRAAUNURR
(END) Dow Jones Newswires
June 23, 2021 05:24 ET (09:24 GMT)
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