LONDON (Alliance News) - AEW UK REIT PLC said Wednesday it is seeking shareholder approval to issue new shares on a non-pre-emptive basis, which could total around 11.8 million shares, in a bid to raise further funds for investment opportunities.
AEW said the shares issued on a non pre-emptive basis will represent 10% of the shares currently in issue, which would be 11.8 million, based on the 117.5 million shares in issue as at March 24.
AEW UK REIT said it is also proposing the issuance of a further 250.0 million shares on a non pre-emptive basis in connection with a new 12 month share issuance programme.
AEW REIT said as at April 26 its investment manager, AEW UK Investment Management LLP was reviewing a pipeline of investment opportunities in the region of GBP50.0 million to GBP100.0 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," AEW UK REIT said.
The general meeting will be held on May 20, the company added.
Shares in AEW UK REIT were down 0.1% at 99.45 pence on Wednesday.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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Aew Uk Reit (AEWU)