LSR.L Regulatory News (LSR)

10 May 2007 17:25

Local Shopping REIT (The) PLC10 May 2007 10 May 2007 The Local Shopping REIT plc The Local Shopping REIT plc ("the Company") announces that, in accordance withsection 109 (1) of the Finance Act 2006, it has today issued notice to HMRevenue & Customs ("HMRC") that the Company will enter the United Kingdom REITregime with effect from 11 May 2007. The Company currently calculates that thevalue of its property assets at the time of entry will be £215.4m, giving riseto a REIT entry charge of £4.3m. The Company anticipates that it will not opt to pay the entry charge byinstallments, in view of the interest rate applicable to deferred payments, andwill therefore pay the entry charge as a corporation tax payment for the period ending 30 September 2007. The Company confirms that its Articles of Association are already consistentwith HMRC guidance for the REIT regime. Enquiries: Bill HeaneyCompany Secretary020 7187 4444 END This information is provided by RNS The company news service from the London Stock Exchange