Business
Response to Press Speculation
Picton Property Income Limited has responded to media speculation regarding its strategic review and formal sale process, confirming that a consortium of LondonMetric Property PLC and Schroder Real Estate Investment Trust Limited is among the interested parties. The company is progressing with a shortlist of proposals, though no firm offer has been made by the consortium, and there is no certainty an offer will materialize or on what terms. The Takeover Panel Executive has granted dispensations from certain Code requirements for the consortium. Disclaimer*
About this update from Picton Property Income Limited
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\nTHIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER MIGHT BE MADE\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\n \n24 March 2026\n \nPICTON PROPERTY INCOME LIMITED\n('Picton' or the 'Company')\n \nResponse to Press Speculation\n \n \nThe Board of Picton notes this morning's media speculation regarding the Company's ongoing Strategic Review and Formal Sale Process.\n \nAs noted in the Company's announcement on 19 March 2026, the Board has received proposals from a wide range of interested parties with a variety of structures and funding sources. The Board is progressing with a shortlisted number of these proposals, and confirms that a consortium comprising of LondonMetric Property PLC and Schroder Real Estate Investment Trust Limited (the \"Consortium\") is one of the interested parties.\n \nThe Company will update the market as and when appropriate. \n \nCode dispensations\nAs previously announced, the Takeover Panel Executive has granted a dispensation from the requirements of Rules 2.4(a), 2.4(b) and 2.6(a) of the Code such that: (i) Picton is not required to identify in this announcement any potential offeror with which the Company is in talks, or from which an approach has be...