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Urban Logistics REIT Raises GBP130 Million, Declares Special Dividend

Fri, 14th Feb 2020 16:31

(Alliance News) - Urban Logistics REIT PLC said Friday it has raised GBP130 million through placing, "significantly in excess" of the target size of GBP100 million.

The company said total of 94.5 million shares have been conditionally placed with new and existing investors at 137.5 pence per share.

Urban Logistics also proposed to raise up to a further GBP12 million through an over-allotment option.

"The purpose of the over-allotment option is to provide certain EU investors the opportunity to participate in the placing to the extent the manager receives certain EU marketing permissions pursuant to the Alternative Investment Fund Managers Directive by no later than March 9," the company said.

Urban Logistics has also declared a special dividend of 3.85 pence per share for the financial year ending March 31. The special dividend brings the total dividends issued and declared in respect of the 2020 financial year to 7.60 pence per share, the company noted.

Urban Logistics shares were mainly flat in London at 142.94 pence each on Friday.

By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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