Tritax EuroBox PLC Update on the Manager (9941H)
09 Dicembre 2020 - 8:00AM
UK Regulatory
TIDMEBOX TIDMBOXE
RNS Number : 9941H
Tritax EuroBox PLC
09 December 2020
09 December 2020
Tritax EuroBox plc
(the "Company")
Update on the Manager
The Board of Tritax EuroBox plc (the "Company") notes today's
announcement by Tritax Management LLP (the "Manager") and Aberdeen
Standard Investment ("ASI")
(https://www.tritax.co.uk/pressrelease/asi-to-acquire-interest-in-tritax-dec-2020)
in relation to ASI's intention to acquire a 60% interest in the
Manager.
The Board has satisfied itself, through discussions with the
Manager and with ASI, that the partnership with ASI both
strengthens the Manager and is aligned with the long-term interests
of the Company's shareholders.
The Board is reassured that there are no changes to the
personnel responsible for the Company with its dedicated fund
management team, led by Nick Preston, continuing to retain
operational independence and autonomy over decision making under
the Tritax brand. In addition, the Board sees the potential for
longer term benefits for shareholders arising from the Manager
forming part of ASI's large investment platform which has a network
of professionals based in local offices across Europe.
Commenting on the announcement, Robert Orr, Chairman of Tritax
EuroBox plc said :
"As our recent results demonstrated, the Company is very well
positioned in the European logistics markets where growth is
accelerating, with high-quality assets and valuable partnerships
with key developers. The Board believes the strategic partnership
between the Manager and ASI is a positive step for the Company,
supporting our overall growth objectives. The Board believes the
transaction complements the Manager with a strong, stable and
long-term institutional partner that has extensive experience in
European real estate investment."
For further information please contact:
Tritax Group
+44 (0) 20 8051 5070
Nick Preston (Partner, Fund Manager)
Jo Blackshaw (Investor Relations)
Tritax EuroBox plc
+44 (0) 20 8051 5070
Robert Orr (Chairman)
euroboxir@tritax.co.uk
Maitland/AMO (Media inquiries)
James Benjamin
+44 (0) 20 7379 5151
tritax-maitland@maitland.co.uk
Jefferies International Limited
Tom Yeadon
+44 (0) 20 7548 4329
Akur Limited
Siobhan Sergeant
+44 (0) 20 7439 3631
The Company's LEI is: 213800HK59N7H979QU33.
Notes:
Tritax EuroBox plc invests in and manages a well-diversified
portfolio of prime Continental European logistics real estate
assets that are delivering an attractive capital return and secure
income to shareholders. These assets fulfil key roles in the
logistics and distribution supply-chain focused on the most
established logistics markets and on the major population centres
across core Continental European countries.
Occupier demand for Continental European logistics assets is in
the midst of a major long-term structural change principally driven
by the growth of e-commerce. This is evidenced by technological
advancements, increased automation and supply-chain
optimisation.
The Company's Manager, Tritax Management LLP, has assembled a
full-service European logistics asset management capability
including specialist "on the ground" asset and property managers
with strong market standings in the Continental European logistics
sector.
Further information on Tritax EuroBox plc is available at
www.tritaxeurobox.co.uk
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END
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