DOCSLIB.ORG

Interview with Grainger Ceo Epra Industry Newsletter

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Interview with Grainger Ceo Epra Industry Newsletter Industry Newsletter ISSUE 60 SEPTEMBER 2017 CLICKS N’ BRICKS. HOW RETAIL Interview IS CHANGING with Page 7 REFORMING SOLVENCY II FOR INSURERS Grainger Page 14 RAISING CAPITAL MORE CEO CREATIVELY Page 21 JAPAN PSP Swiss Property Safestore NN Investment Partners Swiss Prime Site Schroders University of Geneva SEGRO LUXEMBOURG Members list Shaftesbury UAE ADO Properties Standard Life Investment Abu Dhabi Investment Authority Dream Global REIT Stenprop As of August 2017 Emirates REIT Grand City Properties Target Healthcare REIT NETHERLANDS UNITED KINGDOM Tritax Big Box REIT AEW Europe U+I Group AUSTRALIA Mercialys ABN AMRO AMP Capital UBS Société de la Tour Eiffel Amsterdam School of Real Estate Resolution Capital Assura Unite Group Société Foncière Lyonnaise APG Asset Management Westfield Aviva Investors University of Aberdeen Société Générale ASR Western Sydney University Bank of America Merrill Lynch University of Cambridge Atrium European Real Estate Unibail-Rodamco University of Reading, CRER AUSTRIA Barings Barclays Bank Université Paris-Dauphine Urban & Civic BUWOG Group Bouwinvest Barclays Capital Workspace Group CA Immo GERMANY CB Richard Ellis BDO Züblin Immobilien Conwert Immobilien Invest ADLER Real Estate CBRE Global Investors Europe Big Yellow Group Blackrock Asset Management IMMOFINANZ Allianz Real Estate Deloitte Financial Advisory USA Services BMO Global Asset Management S IMMO alstria Office REIT CenterSquare AroundTown Property EuroCommercial Properties (EMEA) British Land Cohen & Steers Capital BELGIUM DEMIRE ING Bank Real Estate Finance Management Capital & Counties Properties Aedifica Deutsche EuroShop Kempen & Co Dickinson College CBRE Clarion Securities AG Real Estate Deutsche Wohnen LaSalle Investment Management Duff & Phelps Citigroup Global Markets Limited Antwerp Management School DIC Asset Loyens & Loeff EII Capital Management CMS Ascencio* DO Deutsche Office MN Services Fidelity Management & Research Credit Suisse Securities Befimmo Hamborner REIT NSI Forum Partners Custodian REIT Care Property Invest HAWK University of Applied PGGM Neuberger Berman Sciences and Arts Derwent London Cofinimmo Redevco Europe Services Northstar Realty Europe Heitman Deutsche Alternative Asset DeGroof Petercam Tilburg University Real Foundations IREBS Management (UK) Intervest Offices & Warehouses University of Maastricht Deutsche Bank Russell Investment Group LEG Immobilien Vastned Retail Leasinvest Real Estate Ediston Property Investments Simon Property MEAG MUNICH ERGO Asset Wereldhave Retail Estates Management Empiric Student Property SNL Financial Yardi Solvay Brussels School PricewaterhouseCoopers EP&T Global University of Cincinnati WDP Real Estate Management NORWAY EY University of Washington* Xior Institute Entra GCP Student Living* Ventas Savills Fund Management Virginia Tech University BRITISH VIRGIN Norwegian Property GIC Real Estate TAG Immobilien Zell-Lurie RE Center at Wharton ISLANDS Globalworth* TLG IMMOBILIEN SINGAPORE Goldman Sachs International Eastern Property Holdings BPR LICENCE VIB National University of Singapore Grainger VictoriaPartners HOLDERS CANADA Great Portland Estates SOUTH AFRICA Allreal Vonovia Green Street Advisors Presima A&J Mucklow Group WCM Growthpoint Properties Hammerson CLS Holdings FINLAND Westgrund Hansteen Holding SPAIN CPI Property Group Aalto University Helical Bar GREECE Albirana Properties SOCIMI* Harworth Group Citycon Henderson Global Investors Grivalia Properties REIC Axiare Patrimonio Inland Homes KTI intu LAMDA Development Gmp Property McKay Securities RAKLI Invesco NBG Pangaea REIC Hispania Activos Inmobiliarios MRM Sponda Jefferies Inmobiliaria Colonial Northern Horizon Capital UB Real Asset Management HONG KONG JLL Lar España J.P. Morgan Orava Residential REIT University of Hong Kong Merlin Properties FRANCE Kennedy Wilson Europe Real Palace Capital Affine IRELAND URO Holdings Estate Regional REIT VBARE Iberian Properties Secure Income REIT ANF Immobilier Green REIT KPMG Landsec St. Modwen Properties AXA Real Estate Investment Hibernia REIT SWEDEN Managers* LondonMetric Property Terreis Irish Residential Properties REIT Atrium Ljungberg BNP Paribas MedicX Fund Qrf Castellum CeGeREAL ISRAEL Moody’s Investors Service Dios Fastigheter Eurosic Morgan Stanley Azrieli Group Kungsleden Foncière des Régions NewRiver REIT Gazit Globe Pandox Frey Nottingham Trent University SEB Gecina ITALY Phoenix Spree Deutschland Technopolis* Icade Aedes Picton Property Income Ltd Wihlborgs IEIF Beni Stabili Premier Asset Management* Ivanhoé Cambridge Europe Chiomenti SWITZERLAND Primary Health Properties Klépierre COIMA RES HIAG Immobilien Principal Global Investors Mazars Group IGD SIIQ Mobimo Holdings Redefine International *Welcome to our newest members the built environment; where we all live, the provision of better information Working with and work, shop and relax. They also play a to investors and stakeholders, active crucial part in providing retirement involvement in the public and political for our members security to millions of people, by debate, improvement of the general offering pension funds stable and operating environment, promotion of Real estate plays a critical role in all PAGE 1 highly competitive assets to invest in. best practices and the cohesion and aspects of our everyday lives. Property strengthening of the industry. companies serve businesses and EPRA’s mission is to promote, develop the society by actively developing, and represent the European public real Find out more about our activities on managing, maintaining and improving estate sector. We achieve this through www.epra.com ISSUE 60—SEPTEMBER 2017 IN THIS ISSUE Update from Dominique Moerenhout In the recent months, we have seen a At EPRA we embrace innovation and growing number of new companies with competition, however unsettling it may an alternative business model springing be. That is why we have made dealing Editor & Production up and entering the property market. In with uncertainty and change the Manager retail, office and even residential sector, centrepiece of our Annual Conference Kasia Jasik-Caínzos in September. We have an exciting line- it translates itself in a more flexible Article Credits customer-offering to reflect the ‘gig’ up of speakers, who will challenge the Mark Abramson economy. This development forces us way that we think about the real estate to re-think every aspect of our industry by exploring the economic, social, James Dearsley and the market leaders of tomorrow will political and technological changes Steve Hays be those that have successfully taken that are affecting our industry. Philippe Le Trung up the challenge. Simon Packard As a forward-thinking organisation Rogier Quirijns A consistent theme of EPRA’s Industry EPRA must also build on its successes Jonathan Tyler Newsletter is how the break-neck in anchoring listed property on the Design & Layout pace of technological change is investment landscape and use this ZN Consulting | znconsulting.com fundamentally reshaping the way we momentum to take the sector to the use real estate. Each edition of our next level. We believe that Europe’s Comments & Suggestions publication focuses on the challenges listed real estate sector is entering a [email protected] and opportunities facing specific new era of growth and the industry is sectors, drawing on our interviews well-placed to respond to the social EPRA with the CEOs of listed property and economic challenges of our time. Square de Meeus 23, 1000 Brussels companies. This month we examine To embody this dynamic, we are giving +32 (0)2 739 1010 how e-commerce is affecting retail real EPRA a new look and feel – from the www.epra.com estate, a particularly hot topic when we logo to a more user-friendly website. @EPRA_realestate consider what is occurring across the I welcome any feedback on our new Atlantic. branding. • In this 13 Retail sector 21 Raising capital issue snapshot more creatively 14 Reforming 24 A bumper year for 3 Interview with Solvency II for PropTech Grainger CEO insurers 27 Meet the EPRA 7 Clicks n’ bricks. 17 AMP Capital looks team How retail is to the North and changing South of Europe 29 10 strategic issues we cannot afford 10 Sephora focuses 20 Calling time on to ignore on ‘wow effect’ NAV PAGE 2 stores 30 Index focus INTERVIEW WITH GRAINGER CEO EPRA INDUSTRY NEWSLETTER Grainger CEO Helen Gordon sees service as foundation to prospects Grainger’s customer facing of UK’s business model “My mobile is never off and I put my PRS REIT to raise GBP 250 million in burgeoning number out there,” says the Chief Ex- an IPO in May. ecutive of Grainger, the UK’s largest listed residential property compa- “The UK PRS market has the poten- private ny which manages all its own assets. tial to be a market of scale. It’s our “People contact me on a Sunday morn- market and we know it well,” she said, ing or a Saturday afternoon and it’s on explaining her strategic plan, which the slightest detail. I get back to them involved the sale of Grainger’s resi- dential portfolio in Germany, assets in rented always. If our tenants are upset about the Czech Republic and its UK home something going wrong in their home, equity release business. “The new you have to be responsive.” residential strategy is very much about giving our Gordon describes the operational side shareholders total returns from capital of managing Grainger’s 8,600-unit appreciation and income. The income sector portfolio as her “biggest area of fo- side of residential has been ignored for cus” after restructuring
Load more

Recommended publications
  • Aberdeen Standard OEIC ASI UK Real Estate Share (Class a Acc [GBP])
    Aberdeen Standard OEIC ASI UK Real Estate Share (Class A Acc [GBP]) Benchmark Aims Benchmark FTSE 350 Real Estate To generate income and some growth over the long term (5 years or more) by investing in UK property-related equities (company shares) including listed closed ended real estate investment trusts (“REITs”). Performance IA sector Property Target: To achieve the return of the FTSE 350 Real Estate Index plus 3% per annum (before charges) over rolling three year periods. The Performance Target is the level of performance that the management team hopes to Identification Codes achieve for the fund. There is however no certainty or promise that they will achieve the Performance Target. The ACD believes this is an appropriate target for the fund based on the investment policy of the fund and the Sedol code B0XWNM5 constituents of the index. Mex code AFPRSA ISIN code GB00B0XWNM59 Performance Fund Overview Price Bid 178.69p Offer 178.69p (24/09/2021) Historic yield 1.11% Fund size £468.6m Number of holdings 32 Concentration Coefficient* 23 Charges Discounted initial charge 0.000% Net discounted AMC 0.750% Initial charge 4.25% Annual Management Charge 1.50% Exit charge None Performance fees No Cumulative Performance (%) 3m 6m 1Yr 3Yr 5Yr Fund Background Fund 7.72% 19.32% 35.73% 44.71% 70.86% Valuation point Daily 12:00 Sector 2.76% 13.07% 22.94% 20.79% 31.89% Fund type OEIC Rank 3/26 4/26 2/24 1/20 1/20 Launch date 29/10/1990 Quartile 1 1 1 1 1 Launch price £0.50 Discrete Performance (%) - to last month end Fund currency Pound Sterling
    [Show full text]
  • REAL ESTATE July 2020
    LISTED MARKETS – REAL ESTATE July 2020 Leo Zielinski Partner Tel. +44 (0)7980 809031 [email protected] John Rodgers Partner Tel. +44 (0)7810 307422 [email protected] Will Strachan Partner Tel. +44 (0)7929 885859 [email protected] Lloyd Davies We track the share price movement and regulatory announcements Partner of 57 real estate owning listed entities (“Gerald Eve tracked index”). Tel. +44 (0)7767 311254 A summary of the Gerald Eve tracked index in terms of GAV, NAV, [email protected] LTV, Dividend, Share Price, Market Cap, Discount/Premium to NAV and their respective weekly movement is attached. Lorenzo Solazzo Data Analyst We provide a comparison to share price data from 3 February 2020 Tel. +44 (0)783 309 5582 [email protected] (pre-Covid-19 level) to present day to demonstrate the impact across certain entities as a direct result of Covid-19. James Brown Surveyor As at 30 of June, the Gerald Eve tracked index is currently down 30% to pre- Tel. +44 (0)7464 656563 Covid-19 level, under-performing the FTSE350 which is slowly recovering and is [email protected] now down 16%. The tracked listed REITs share price decreased on average 3% since 1 June 2020 (March: -25%, April: +6%, May: -3%). To provide context around the share price movement, the average discount to NAV is currently 31% against 3% pre-Covid-19. It is unsurprising to note that specialist sector entities across Industrial, Healthcare and Supermarkets have out-performed the REIT universe relative to other strategies within the Gerald Eve tracked index.
    [Show full text]
  • March 2010 Annual Report
    TR Property Investment Trust plc –TR Property Investment Trust ReportMarch 2010 & Accounts for the year ended 31 TR Property Investment Trust plc Report & Accounts for the year ended 31 March 2010 TR Property Investment Trust plc is managed by This document is printed on Revive Silk of which 75% of the furnish is made from 100% de-inked post consumer waste. The remaining 25% being mill broke and virgin fibres. This paper is bleached using a combination of Totally Chlorine Free (TCF) and Elemental Chlorine Free (ECF). The manufacturing mill is accredited with the ISO 14001 standard for environmental management. TR Property Investment Trust plc Directors’ Review Accounts 1 Overview 62 Independent Auditors’ Report 2 Statement of Investment Objective and Policy 63 Group Income Statement 4 Financial Highlights and Performance 64 Group and Company Statement of Changes in Equity 5 Historical Performance 65 Group and Company Balance Sheets 6 Chairman’s Statement 66 Group and Company Cash Flow Statements 10 Managers’ Report – Market Background and Outlook 67 Notes to the Financial Statements 15 Ordinary Shares – Financial Highlights and Performance Shareholder Information 16 Ordinary Shares – Manager’s Report 89 Notice of Annual General Meeting 21 Ordinary Shares – Portfolio Details 93 Notice of Separate Class Meeting of Ordinary 27 Ordinary Shares – Income Statement Shareholders 28 Ordinary Shares – Balance Sheet 94 Notice of Separate Class Meeting of Sigma Shareholders 29 Sigma Shares – Financial Highlights and Performance 95 Explanation of
    [Show full text]
  • Exciting New Retail and Leisure Opportunity in the Centre of Milton Keynes
    MILTON KEYNES EXCITING NEW RETAIL AND LEISURE OPPORTUNITY IN THE CENTRE OF MILTON KEYNES 809-811 Silbury Boulevard , Milton Keynes HOME INTRODUCTION LOCATION MILTON KEYNES RETAIL AND SITE PLAN AVAILABILITY LEISURE THE DEVELOPER OPPORTUNITY 02 CONTACT Retail and leisure units to let Two new commercial units with flexible planning consent for A1-A5 / D1 & B1 uses Unit sizes 1,959 sq ft (182 sq m) and 1,808 sq ft (168 sq m) Units can be combined to create one large unit of 3,767 sq ft (349 sq m) Directly opposite John Lewis entrance and Centre:MK Located directly beneath 132 new homes built for rent by Grainger Plc. For further information go to www.solstice-apartments.co.uk HOME INTRODUCTION LOCATION MILTON KEYNES SITE PLAN AVAILABILITY LOCATION THE DEVELOPER AERIAL 03 CONTACT SNOZONE / 12TH INTU SHOPPING CENTRE: JOHN XSCAPE STREET CENTRE MK LEWIS MILTON KEYNES MILTON KEYNES THEATRE ROSE HOME INTRODUCTION LOCATION MILTON KEYNES SITE PLAN AVAILABILITY LOCATION THE DEVELOPER NEIGHBOURS 04 CONTACT EAT/DRINK/RETAIL es) 1 Las Iguanas 18 Oliver Bonas M1 (2 mil 2 Byron Burger 19 White Stuff 3 Brasserie Blanc 20 Halifax 4 Carluccios 21 Pizza Hut 10 15 John Lewis 5 Lloyds Bank 22 McDonald’s Lloyds Court 5 8 1 6 Mothercare 23 Monsoon MK 6 Gallery 7 Ask Italian 24 Paperchase 7 16 9 Theatre 8 Next 25 Apple 2 13 24 9 Lakeland 26 Gap 14 4 11 10 John Lewis 27 H&M 17 Centre:MK 23 Secklow 11 Debenhams 28 Hollister 18 22 ard 19 7 12 Marks & Spencer 29 Michael Kors 12 21 Boulev 20 Gate 13 Primark 30 Sports Direct y 26 27 Snozone/Xscape A509 25 28 3 14 TK Maxx 31 T.M.
    [Show full text]
  • Unlocking Potential What’S in This Report
    Great Portland Estates plc Annual Report 2013 Unlocking potential What’s in this report 1. Overview 3. Financials 1 Who we are 68 Group income statement 2 What we do 68 Group statement of comprehensive income 4 How we deliver shareholder value 69 Group balance sheet 70 Group statement of cash flows 71 Group statement of changes in equity 72 Notes forming part of the Group financial statements 93 Independent auditor’s report 95 Wigmore Street, W1 94 Company balance sheet – UK GAAP See more on pages 16 and 17 95 Notes forming part of the Company financial statements 97 Company independent auditor’s report 2. Annual review 24 Chairman’s statement 4. Governance 25 Our market 100 Corporate governance 28 Valuation 113 Directors’ remuneration report 30 Investment management 128 Report of the directors 32 Development management 132 Directors’ responsibilities statement 34 Asset management 133 Analysis of ordinary shareholdings 36 Financial management 134 Notice of meeting 38 Joint ventures 39 Our financial results 5. Other information 42 Portfolio statistics 43 Our properties 136 Glossary 46 Board of Directors 137 Five year record 48 Our people 138 Financial calendar 52 Risk management 139 Shareholders’ information 56 Our approach to sustainability “Our focused business model and the disciplined execution of our strategic priorities has again delivered property and shareholder returns well ahead of our benchmarks. Martin Scicluna Chairman ” www.gpe.co.uk Great Portland Estates Annual Report 2013 Section 1 Overview Who we are Great Portland Estates is a central London property investment and development company owning over £2.3 billion of real estate.
    [Show full text]
  • Annual Report & Accounts 2008
    Big Yellow Group PLC Annual Report & Accounts 2008 20 Big Yellow Group PLC The best way for us to explain how we 2 The Deans, Bridge Road, Bagshot, Surrey GU19 5AT innovate and what we do for our customers, Tel: 01276 470190 Fax: 01276 470191 is to show you… e-mail: [email protected] 08 We are the innovative leaders in the UK self storage industry, Big providing individuals and businesses with an unrivalled PLC Group Yellow Annual Report & Accounts 2008 product – the best locations, the best quality facilities and Annual Report “the strongest Brand.” &Accounts Contents ifc Measuring Our Progress 02 Chairman’s Statement 06 Business Review 12 Financial Review 16 Portfolio Summary 17 Corporate Governance 22 Audit Committee Report 24 Corporate Social Responsibility Report 31 Directors’ Report 34 Remuneration Report 40 Officers and Professional Advisers 41 Biographies of Directors and Senior Management 42 Independent Auditors’ Report to the Members of Big Yellow Group PLC 43 Consolidated Income Statement 44 Consolidated Balance Sheet 45 Consolidated Statement of Recognised Income and Expense 46 Consolidated Cash Flow Statement Reconciliation of Net Cash Flow to Movement in Net Debt 47 Notes to the Financial Statements to be continued… 72 Independent Auditors’ Report to the Members of Big Yellow Group PLC 73 Company Balance Sheet bigyellow.co.uk 74 Company Cash Flow Statement Statement of Recognised Income and Expense 75 Notes to the Company Accounts 79 Five Year Summary bigyellow.co.uk Get some space in your life.™ ™ Big Yellow Group PLC
    [Show full text]
  • Parker Review
    Ethnic Diversity Enriching Business Leadership An update report from The Parker Review Sir John Parker The Parker Review Committee 5 February 2020 Principal Sponsor Members of the Steering Committee Chair: Sir John Parker GBE, FREng Co-Chair: David Tyler Contents Members: Dr Doyin Atewologun Sanjay Bhandari Helen Mahy CBE Foreword by Sir John Parker 2 Sir Kenneth Olisa OBE Foreword by the Secretary of State 6 Trevor Phillips OBE Message from EY 8 Tom Shropshire Vision and Mission Statement 10 Yvonne Thompson CBE Professor Susan Vinnicombe CBE Current Profile of FTSE 350 Boards 14 Matthew Percival FRC/Cranfield Research on Ethnic Diversity Reporting 36 Arun Batra OBE Parker Review Recommendations 58 Bilal Raja Kirstie Wright Company Success Stories 62 Closing Word from Sir Jon Thompson 65 Observers Biographies 66 Sanu de Lima, Itiola Durojaiye, Katie Leinweber Appendix — The Directors’ Resource Toolkit 72 Department for Business, Energy & Industrial Strategy Thanks to our contributors during the year and to this report Oliver Cover Alex Diggins Neil Golborne Orla Pettigrew Sonam Patel Zaheer Ahmad MBE Rachel Sadka Simon Feeke Key advisors and contributors to this report: Simon Manterfield Dr Manjari Prashar Dr Fatima Tresh Latika Shah ® At the heart of our success lies the performance 2. Recognising the changes and growing talent of our many great companies, many of them listed pool of ethnically diverse candidates in our in the FTSE 100 and FTSE 250. There is no doubt home and overseas markets which will influence that one reason we have been able to punch recruitment patterns for years to come above our weight as a medium-sized country is the talent and inventiveness of our business leaders Whilst we have made great strides in bringing and our skilled people.
    [Show full text]
  • XINT F UK Real Estate P GBP Index
    As of December 30, 2020 XINT F UK Real Estate P GBP Index DE000A13PXZ5 GBP The XINT F UK Real Estate P GBP Index is a free-float adjusted index, designed to track the performance of real estate companies and REITS listed on the London Stock Exchange. INDEX PERFORMANCE - PRICE RETURN 120 115 110 105 100 95 90 85 80 75 70 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Returns (p.a) Standard Deviation (p.a) Maximum Drawdown 3M 69.43% 3M 23.80% From 14.02.2020 6M 21.90% 6M 21.90% To 19.03.2020 1Y -17.08% 1Y -17.08% Return -38.63% Index Intelligence GmbH - Grosser Hirschgraben 15 - 60311 Frankfurt am Main Tel.: +49 69 247 5583 50 - [email protected] www.index-int.com Top 10 Constituents FFMV (GBPm) Weight % Industry Sector Segro PLC 11,298 19.84 Real Estate Land Securities Group PLC 4,910 8.62 Real Estate British Land Company PLC 4,630 8.13 Real Estate Unite Group PLC 3,341 5.87 Real Estate Derwent London PLC 3,136 5.51 Real Estate Tritax Big Box REIT Plc 2,866 5.03 Real Estate LondonMetric Property PLC 2,059 3.61 Real Estate Assura PLC 2,021 3.55 Real Estate Primary Health Properties PLC 1,989 3.49 Real Estate Grainger PLC 1,900 3.34 Real Estate Total 38,151 66.99 This information has been prepared by Index Intelligence GmbH (“IIG”). All information is provided "as is" and IIG makes no express or implied warranties, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to any data included herein.
    [Show full text]
  • Recommended Cash and Share Offer for A&J Mucklow Group
    172591 Proof 2 Thursday, May 23, 2019 03:22 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. THIS ANNOUNCEMENT IS DEEMED BY LONDONMETRIC AND MUCKLOW TO CONTAIN INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION NO 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT AND INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION IN RELATION TO THE NEW LONDONMETRIC SHARES EXCEPT ON THE BASIS OF INFORMATION IN THE SCHEME DOCUMENT AND THE COMBINED CIRCULAR AND PROSPECTUS WHICH ARE PROPOSED TO BE PUBLISHED IN DUE COURSE. 23 May 2019 FOR IMMEDIATE RELEASE RECOMMENDED CASH AND SHARE OFFER FOR A&J MUCKLOW GROUP PLC (“MUCKLOW”) BY LONDONMETRIC PROPERTY PLC (“LONDONMETRIC”) to be effected by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006 Summary The boards of directors of LondonMetric and Mucklow are pleased to announce that they have reached agreement on the terms of a recommended offer pursuant to which LondonMetric will acquire the entire issued and to be issued ordinary share capital of Mucklow (the “Combination” forming the “Combined Group”). The Combination is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act. Under the terms of the Combination, for each Mucklow Ordinary Share, Mucklow Shareholders will be entitled to receive: 2.19 New LondonMetric Shares and 204.5 pence in cash On the basis of the Closing Price per LondonMetric Ordinary Share of 205.8 pence on 22 May 2019, the Combination values each Mucklow Ordinary Share at 655.2 pence and the entire issued and to be issued ordinary share capital of Mucklow at approximately £414.7 million.
    [Show full text]
  • The Intu Difference Intu Properties Plc Annual Report 2016 Welcome to Our Annual Report 2016
    The intu difference intu properties plc Annual report 2016 Welcome to our annual report 2016 Our purpose is to create compelling, joyful experiences that surprise and delight our customers and make them smile. We are a people business and everything we do is guided by our culture and our values. We’re passionate about providing people with their perfect shopping experience so that our retailers flourish. And it’s this that powers our business, creating opportunity for our retailers and value for our investors; benefiting our communities and driving our long-term success. Contents Overview Governance Highlights of 2016 2 Chairman’s introduction 58 Our top properties 4 Board of Directors 60 Executive Committee 62 Strategic report The Board 63 Chairman’s statement 6 Viability statement 68 Chief Executive’s review 8 Audit Committee 69 Our growth story 10 Nomination and Review Committee 74 Investment case 12 Directors’ remuneration report 76 Directors’ report 94 The intu difference Statement of Directors’ responsibilities 96 Making the difference 14 Understanding our markets 16 Financial statements Optimising asset performance 18 Independent auditors’ report 98 Delivering UK developments 20 Consolidated income statement 106 Making the brand count 22 Consolidated statement of Seizing the growth opportunity in Spain 24 comprehensive income 107 At the heart of communities 26 Balance sheets 108 Our business model 28 Statements of changes in equity 109 Relationships 30 Statements of cash flows 112 Strategy overview 32 Notes to the financial statements
    [Show full text]
  • COVERAGE LIST GEO Group, Inc
    UNITED STATES: REIT/REOC cont’d. UNITED STATES: REIT/REOC cont’d. UNITED STATES: NON-TRADED REITS cont’d. COVERAGE LIST GEO Group, Inc. GEO Sabra Health Care REIT, Inc. SBRA KBS Strategic Opportunity REIT, Inc. Getty Realty Corp. GTY Saul Centers, Inc. BFS Landmark Apartment Trust, Inc. Gladstone Commercial Corporation GOOD Select Income REIT SIR Lightstone Value Plus Real Estate Investment Trust II, Inc. Gladstone Land Corporation LAND Senior Housing Properties Trust SNH Lightstone Value Plus Real Estate Investment Trust III, Inc. WINTER 2015/2016 • DEVELOPED & EMERGING MARKETS Global Healthcare REIT, Inc. GBCS Seritage Growth Properties SRG Lightstone Value Plus Real Estate Investment Trust, Inc. Global Net Lease, Inc. GNL Silver Bay Realty Trust Corp. SBY Moody National REIT I, Inc. Government Properties Income Trust GOV Simon Property Group, Inc. SPG Moody National REIT II, Inc. EUROPE | AFRICA | ASIA-PACIFIC | MIDDLE EAST | SOUTH AMERICA | NORTH AMERICA Gramercy Property Trust Inc. GPT SL Green Realty Corp. SLG MVP REIT, Inc. Gyrodyne, LLC GYRO SoTHERLY Hotels Inc. SOHO NetREIT, Inc. HCP, Inc. HCP Sovran Self Storage, Inc. SSS NorthStar Healthcare Income, Inc. UNITED KINGDOM cont’d. Healthcare Realty Trust Incorporated HR Spirit Realty Capital, Inc. SRC O’Donnell Strategic Industrial REIT, Inc. EUROPE Healthcare Trust of America, Inc. HTA St. Joe Company JOE Phillips Edison Grocery Center REIT I, Inc. GREECE: Athens Stock Exchange (ATH) AFI Development Plc AFRB Hersha Hospitality Trust HT STAG Industrial, Inc. STAG Phillips Edison Grocery Center REIT II, Inc. AUSTRIA: Vienna Stock Exchange (WBO) Babis Vovos International Construction S.A. VOVOS Alpha Pyrenees Trust Limited ALPH Highwoods Properties, Inc.
    [Show full text]
  • Rathbone Income Fund Update March 2020
    Rathbone Income Fund Update March 2020 So we come to the end of an extraordinary quarter. The Rathbone Income Fund fell back 26.2%, outperforming the IA Equity Income Sector, down 28.1%, but in line with the FTSE All-Share benchmark, midday to midday.* Unsurprisingly, the recent swathe of dividend deferrals and cancellations have also weighed on the sector … but more on this later. Our fund has succumbed to losses, which is never a nice experience, but there are three important silver linings: We are outperforming the sector, despite being hurt by our UK domestic exposure, which we had expected to come good after last year’s election; 3 months 6 months 1 year 3 years 5 years 10 years Rathbone -26.21% -23.02% -19.67% -18.45% -3.71% 77.90% Income Fund IA Equity -28.14% -23.00% -20.64% -17.56% -6.23% 54.82% Income Sector FTSE All -25.13%** -22.02% -18.45% -12.19% 2.89% 53.57% Share Index Source: FE Analytics, mid-price to mid-price; **this figure is from close of day to close of day, not midday to midday We are sitting on a decent cash pile (7.6% at period end), a war chest that we wish to put to good use; We have put through a 3% rise in our interim distribution. The biggest drags on our performance were Carnival (which has now been sold), Restaurant Group (which we have reduced), Bellway, Legal & General and Lloyds Banking Group. Carnival became an obvious high-profile casualty of the coronavirus pandemic, so we sold the shares ahead of its call to raise more debt and equity funding.
    [Show full text]