22 Jul 2019 17:38
22 July 2019
TRITAX EUROBOX PLC
(the "Company")
BOARD UPDATE
The Board of Directors of Tritax EuroBox plc (tickers: EBOX (Sterling), BOXE (Euro)) announces that Keith Mansfield, currently a Non-Executive Director of the Company, has been appointed as Senior Independent Director with immediate effect.
For further information, please contact:
Tritax Group Hana Beard (Company Secretary) | +44 (0) 20 7290 1616 |
Jefferies International Limited Gary Gould Stuart Klein
| +44 (0) 20 7029 8000 |
Kempen & Co N.V. Dick Boer Thomas ten Hoedt
| +31 (0) 20 348 8500 |
Maitland.AMO (Communications Adviser) James Benjamin | +44 (0) 20 7379 5151 Email:tritax-maitland@maitland.co.uk |
The Company's LEI is: 213800HK59N7H979QU33.
NOTES:
Tritax EuroBox plc invests and manages a well-diversified portfolio of well-located Continental European logistics real estate assets that are expected to deliver 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, set against a backdrop of resurgent economic growth across much of Continental Europe.
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. The appointed asset managers Logistics Capital Partners and Dietz AG are logistics specialists and offer the Company exposure to high quality asset management expertise and access to their respective development pipelines, providing acquisition opportunities across Continental Europe.
The Company is targeting, on a fully invested and geared basis, an initial Ordinary Share dividend yield of 4.75% p.a.1, which is expected to increase progressively through regular indexation events inherent in underlying lease agreements, and a total return on the Ordinary Shares of 9.0% p.a.1 over the medium-term. The Company intends to pay dividends on a quarterly basis with shareholders able to receive dividends in Sterling or Euro.
Further information on Tritax EuroBox plc is available at www.tritaxeurobox.co.uk
1 Euro denominated returns, by reference to IPO issue price. These are targets only and not profit forecasts. There can be no assurances that these targets will be met and they should not be taken as indications of the Company's expected or actual future results. Accordingly, potential investors should not place any reliance on the target in deciding whether or not to invest in the Company and should not assume that the Company will make any distributions at all and should decide themselves whether or not the target is reasonable or achievable.