IN BRIEF: Supermarket Income REIT wraps up management internalisation

Wed, 26th Mar 2025 07:34

Supermarket Income REIT PLC - London-based real estate investment trust for property leased to grocery retailers - Completes the internalisation of investment management. Shareholders approved the internalisation at a general meeting held on Thursday last week. Rob Abraham becomes chief executive officer and Mike Perkins is chief financial officer. The duo join the board as executive directors with immediate effect.

Earlier this month, Supermarket said it had agreed with its manager Atrato Group to internalise its management function. Both Abraham and Perkins are from Atrato. The trust said back then that the GBP19.7 million agreement would be funded from proceeds it received from the June 2024 sale of a Tesco store in Newmarket to operator Tesco PLC for GBP63.5 million.

Current stock price in Johannesburg: ZAR18.98

12-month change: up 19% since December listing on JSE

Stock price in London: 75.91 pence

12-month change: down 2.0%

By Artwell Dlamini, Alliance News reporter

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