Business
Circular and Notice of General Meeting
Circular and Notice of General Meeting.
About this update from Aew Uk Reit Plc
[{"type":"text","content":"\n \nRNS Number : 5596W AEW UK REIT PLC 27 April 2016 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT OR ANY COPY OF IT.\n \n \n \n27 April 2016\n \nAEW UK REIT plc\n \nPublication of Circular and Notice of General Meeting\n \nAEW UK REIT plc (the \"Company\") has today published a circular to shareholders (the \"Circular\") convening a General Meeting to be held at 11 a.m. on 20 May 2016 at which resolutions will be put to Shareholders to permit the Company to issue, on a non pre-emptive basis, new Shares representing up to 9.99 per cent of the Shares currently in issue and the issue of a further 250 million Shares on a non pre-emptive basis in connection with a potential new 12 month share issuance programme.\n \nThe Proposals\nAt its launch in May 2015, the Company raised gross proceeds of £100.5 million. To date, a further 17,010,000 Shares have been issued at a premium to the NAV per Share pursuant to a placing programme put in place at the time of the Company's launch (the \"2015 Placing Programme\"). The 2015 Placing Programme closed on 22 April 2016.\n \nAs at 26 April 2016 (the latest practicable date prior to the publication of the Circular), the Company had made investments totalling £110.65 million (net of acquisition costs), comprising 25 direct properties and a £9.75 million investment in The AEW UK Core Property Fund, and has utilised £14.25 million of its £40 million 5 year term loan facility with RBS International. The Company has paid dividends of 3.5 pence per Share since launch, in line with its stated dividend target.\n \nAEW UK Investment Management LLP (the \"Investment Manager\") is currently reviewing a pipeline of interesting investment opportunities in the region of £50 million to £100 million. These opportunities are located in a geographically diverse range of occupational markets across the UK, including major cities and locations underpinned by major infrastructure. The Investment Manager is seeing opportunities across a range of market sectors, with a particular occupational demand in the industrial sector. The Investment Manager's identified ...