Business
Update to stated post-offer intention statements
Update to stated post-offer intention statements.
About this update from Londonmetric Property Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \nFOR IMMEDIATE RELEASE\n \n24 June 2025\n \nLONDONMETRIC PROPERTY PLC (\"LONDONMETRIC\")\n \nRule 19.6(b) update to stated post-offer intention statements with regard to Urban Logistics REIT plc (\"Urban Logistics\")\n \nLondonMetric announces that, further to the completion of its acquisition of Urban Logistics on 23 June 2025 (the \"Acquisition\"), LondonMetric is providing an update on its statements of intent made pursuant to Rule 2.7(c)(viii) and Rule 24.2(a)(i) of the Takeover Code (the \"Intention Statements\") which were set out in its announcement on 9 May 2025 (the \"2.7 Announcement\") and the scheme document published in connection with the Acquisition on 23 May 2025 (the \"Scheme Document\" and, together with the 2.7 Announcement, the \"Offer Documents\").\n \nThis announcement is required under Rule 19.6(b) of the Takeover Code.\n \nThe Intention Statements described that \"LondonMetric intends to discuss future investment advisory arrangements with the Investment Adviser of Urban Logistics as soon as practicable. LondonMetric ultimately intends to assume the delivery of those services under the internal management and leadership of LondonMetric. The scope of these discussions will cover (i) reaching agreement with Urban Logistics' Investment Adviser regarding the terms on which the management contract might be amended at optimal value and maintaining continuity of service; (ii) proceeding within the terms of the existing contract, and (iii) terminating the existing contract in accordance with its terms.\"\n \nFollowing further discussions with the Investment Adviser of Urban Logistics (the \"Investment Adviser\"), LondonMetric has now reached agreement with the Investment Adviser regarding the terms on which the management contract might be amended at optimal value and maintaining continuity of service. LondonMetric has acquired the business of the Investment Adviser, through the establishment of a newly-incorporated company, which does include the Investment Advisory Agreement, which will continue to operate for the time being, and the transfer of a small numbe...