Schroder Eur.r Regulatory News (SERE)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF IRELAND.

This announcement is not an offer to sell, or a solicitation of an offer to acquire, securities in the United States or in any other jurisdiction. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC

£107.5 million IPO, admission to trading and PDMR shareholdings

9 December 2015

Further to the announcement on 3 December 2015 that it had received commitments to raise gross proceeds of £107.5 million in its initial public offering ("IPO"), Schroder European Real Estate Investment Trust PLC (the "Company") today announces its first day of trading on the Main Market of the London Stock Exchange and the Main Board of the Johannesburg Stock Exchange. On admission, the issued share capital of the Company will be 107,500,000 shares.

On admission the beneficial interests of Directors in the issued share capital of the Company will be as follows:

Comment

Commenting on the announcement, Duncan Owen, Global Head of Real Estate at the Investment Manager to the Company, said: 

"Rental growth is returning to the "winning" cities and regions of Continental Europe and they are at an earlier stage of recovery than the UK. The Company has a targeted strategy of investing in real estate assets with strong fundamentals in key cities across Continental Europe, where there is rental growth as a consequence of constrained supply, improving infrastructure and competing demand for space. Our local investment teams have been very active in these markets over the past year and are already well progressed with closing a number of initial investments for Company, with a strong pipeline of further opportunities".

Sir Julian Berney Bt. Non-Executive Chairman, of the Company said:

"We believe it is an attractive time to be investing in Continental European real estate. Through its targeted strategy, active asset management and limited gearing, we believe the Company offers investors a good opportunity to access these markets in a liquid structure, with the aim of providing an attractive level of income and capital return. We are pleased to have a good shareholder base across both the UK and South African listings and the Company's focus now is on generating strong investment performance for those investors, which in turn will help in growing the Company to its target size of in excess of £500 million".

Capitalised terms in this announcement shall (unless expressly stated otherwise) have the meaning given to them in the prospectus issued by the Company on 11 November 2015 (the "Prospectus"). A copy of the Prospectus is available from the Company's website at www.schroders.co.uk/sereit and is available for inspection during usual business hours on any day (Saturdays, Sundays and public holidays excepted) at the offices of Stephenson Harwood LLP, 1 Finsbury Circus, London EC2M 7SH and at the offices of PSG Capital, 1st Floor Ou Kollege, 35 Kerk Street, Stellenbosch, 7600 and 1st Floor, Building 8, Inanda Greens Business Park, 54 Weirda Road West, Wierda Valley, Sandton, 2196.

For further details contact:

Sponsor, Broker and Placing Agent in the UK

Numis Securities (UK investors) 020 7260 1000

Katherine Miller (Sales)

David Benda (Corporate)

Sponsor and Placing Agent in South Africa

PSG Capital (SA investors) +27 21 887 9602

David Tosi

Willie Honeyball

Other advisers

Important Information

This announcement has been prepared by, and is the sole responsibility of, Schroder European Real Estate Investment Trust PLC.

Numis Securities Limited is acting only for the Company in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Numis Securities Limited or advice to any other person in relation to the matters contained herein.

PSG Capital is acting only for the Company in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of PSG Capital or advice to any other person in relation to the matters contained herein.

The Company is not and will not be registered under the US Investment Company Act of 1940, as amended. The Ordinary Shares have not been, nor will they be, registered under the US Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States or under the applicable securities laws of Australia, Canada, Japan or the Republic of Ireland. Subject to certain exceptions, the Ordinary Shares may not be offered or sold in the United States, Australia, Canada, Japan or the Republic of Ireland or to or for the account or benefit of any national, resident or citizen of Australia, Canada, Japan or the Republic of Ireland or any person located in the United States. The Placing and the Offer for Subscription and the distribution of this announcement in other jurisdictions may be restricted by law and the persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.

This announcement does not constitute, envisage or represent an offer to the public in South Africa, as envisaged in the South African Companies Act. In South Africa, only persons who are invited to participate in the Initial Placing and who fall within any of the categories envisaged in section 96(1)(a) of the South African Companies Act or who subscribe for a minimum amount of R1,000,000 (one million Rand) per single addressee acting as principal, as contemplated in section 96(1)(b) of the South African Companies Act, are entitled to participate in the Initial Placing.