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Picton Property Income Ltd
Form8.5EPT/NonRIACONSORTIUMCOMPRISINGLONDONMETRICP
Business
Apr 15 2026
3 min read

Form8.5EPT/NonRIACONSORTIUMCOMPRISINGLONDONMETRICP

FORM 8.5 (EPT/NON-RI)

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS

(OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

1.

KEY INFORMATION

(a)

Name of exempt principal trader:

BARCLAYS CAPITAL SECURITIES LTD

(b)

Name of offeror/offeree in relation to whose

 relevant securities this form relates:

 A CONSORTIUM COMPRISING LONDONMETRIC PROPERTY PLC AND SCHRODER REAL ESTATE INVESTMENT TRUST LIMITED

(c)

Name of the party to the offer with which exempt

 principal trader is connected

 A CONSORTIUM COMPRISING LONDONMETRIC PROPERTY PLC AND SCHRODER REAL ESTATE INVESTMENT TRUST LIMITED

(d)

Date position held/dealing undertaken:

14 Apr 2026

(e)

In addition to the company in 1(b) above, is the exempt principal

 trader making disclosures in respect of any other party to the offer?

YES:

 PICTON PROPERTY INCOME LIMITED

2.

POSITIONS OF THE EXEMPT PRINCIPAL TRADER

(a)

Interests and short positions in the relevant securities of the offeror or offeree

 

to which the disclosure relates following the dealing (if any)

Class of relevant security:

LondonMetric Property plc 10p ordinary


Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

11,638,244

0.50%

8,869,400

0.38%

(2) Cash-settled derivatives:

9,200,065

0.39%

7,460,626

0.32%

(3) Stock-settled derivatives (including options) and agreements to purchase/sell: 

0

0.00%

0

0.00%

 

 TOTAL:

 

20,838,309

0.89%

16,330,026

0.70%

 








Class of relevant security:

Schroder Real Estate Investment Trust Limited ordinary NPV


Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,602,921

0.33%

290,796

0.06%

(2) Cash-settled derivatives:

0

0.00%

1,386,578

0.28%

(3) Stock-settled derivatives (including options) and agreements to purchase/sell: 

0

0.00%

0

0.00%

 

 TOTAL:

 

1,602,921

0.33%

1,677,374

0.34%

 








(b)

Rights to subscribe for new securities (including directors and other executive options)

Class of relevant security in relation to

 which subscription right exists

 

Details, including nature of the rights

 concerned and relevant percentages:

 

3.

DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

(a)

Purchase and sales

 






Class of relevant

 security

Purchase/sale

Total number of

 securities

Highest price per unit

 paid/received

Lowest price per unit

 paid/received

LondonMetric Property plc 10p ordinary

Purchase

1629501

1.9140  GBP

1.8920  GBP

LondonMetric Property plc 10p ordinary

Sale

1187062

1.9140  GBP

1.8930  GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

29830

0.5037  GBP

0.4959  GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

41040

0.5031  GBP

0.4969  GBP

 








(b)

Cash-settled derivative transactions

Class of

 relevant

 security

Product  description

Nature of dealing

Number of

 reference

 securities

Price per

 unit

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

466

1.9032  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

5,190

1.9040  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

4,319

1.9054  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

3,343

1.9055  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

2,012

1.9058  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

7,673

1.9061  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

1,150

1.9064  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

41,613

1.9069  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

23,297

1.9074  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

27,350

1.9086  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

18,585

1.9087  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

24,113

1.9089  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

60,708

1.9090  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

329,293

1.9100  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

259

1.9133  GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

663

1.9134  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,665

1.8992  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

15,595

1.9021  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

30,515

1.9034  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

36,709

1.9038  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

5,800

1.9040  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

277,848

1.9046  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

29,248

1.9051  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

225,184

1.9052  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

1,106

1.9055  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

13,328

1.9061  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

22,092

1.9074  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

165,277

1.9090  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

513

1.9091  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

26,648

1.9092  GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

8,656

1.9096  GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

43

0.4988  GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

2,717

0.4990  GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

106

0.5007  GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

4,705

0.4995  GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

2,693

0.5000  GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

1,923

0.4970  GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

21,833

0.4995  GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

14,651

0.4959  GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

7,181

0.5000  GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

2,879

1.9038  GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

18,746

1.9054  GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

157

1.9087  GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

120,713

1.9091  GBP

 








(c)

Stock-settled derivative transactions  (including options)

(i)

Writing, selling, purchasing or varying

Class

 of

 relevant

 security

Product

 description

Writing,

 purchasing,

 selling,

 varying etc

Number

 of

 securities

 to which

 option

 relates

Exercise

 price

 per unit

Type

Expiry

 date

Option

 money

 paid/

 received

 per unit

 

 

 

 

 

 

 

 

 








(ii)

Exercising

 






Class of relevant

 security

Product description

Exercising/ exercised against

Number of

 securities

Exercise price per

 unit

 

 

 

 

 

 








(d)

Other dealings (including subscribing for new securities)

Class of relevant

 security

Nature of Dealings

Details

Price per unit (if

 applicable)

 

 

 

 

4.

OTHER INFORMATION

(a)

Indemnity and other dealings arrangements

Details of any indemnity or option arrangement, or any agreement or understanding,

 formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by

 the exempt principal trader making the disclosure and any party

 to the offer or any person acting in concert with a party to the offer:

NONE

(b)

Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between

 the exempt principal trader making the disclosure and any other person relating to:

 (i)   the voting rights of any relevant securities under any option; or

 (ii)   the voting rights of future acquisition or disposal of any relevant securities to which

 any derivative is referenced:

NONE

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:

15 Apr 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213