URBAN LOGISTICS REIT PLC - ACQUISITION

Dear client

We have been notified that the boards of directors of LondonMetric and Urban Logistics are pleased to announce that they have reached agreement on the terms of a recommended cash and share offer pursuant to which LondonMetric will acquire the entire issued and to be issued ordinary share capital of Urban Logistics.

Under the terms of the Acquisition, for each Urban Logistics Share held, the Scheme Shareholders will be entitled to receive: 

0.5612 New LondonMetric Shares 

and 

42.8 pence in cash 

On the basis of the Closing Price per LondonMetric Share of 191.5 pence as at the Latest Practicable Date, the Acquisition values each Urban Logistics share at 150.3 pence and the entire issued and to be issued ordinary share capital of Urban Logistics at approximately £698.9 million.

The Scheme Document, including details of the Acquisition and notices for the Court and General Meetings, is expected to be published around 23 May 2025, and no later than 28 days from this Announcement (subject to agreement and Panel consent). The Scheme is anticipated to become effective by 30 June 2025, subject to the satisfaction or waiver of relevant conditions. 

Affected ISIN: GB00BYV8MN78

Please see attached notification received.

There are currently no holdings on the platform. 

Many Thanks,

Kind regards