Delisting & Cancellation of LXI Shares

LXI REIT PLC

06 March 2024

 

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 OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

6 March 2024

RECOMMENDED ALL-SHARE MERGER

OF

LXI REIT PLC

AND

LONDONMETRIC PROPERTY PLC

to be effected by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006

DE-LISTING AND CANCELLATION OF TRADING OF LXI SHARES

Further to the announcement made by the Boards of LXi REIT plc ("LXi") and LondonMetric Property Plc on 5 March 2024 that the Scheme has become Effective in accordance with its terms, LXi today announces that, following an application made by LXi, the Financial Conduct Authority has cancelled the listing of LXi Shares on the premium listing segment of the Official List and the London Stock Exchange has cancelled the trading of LXi Shares on the Main Market, in each case with effect from 8.00 a.m. today, 6 March 2024.

General

Unless otherwise defined, all capitalised terms in this announcement shall have the same meaning given to them in the Scheme Document, a copy of which is available on the LXi website at www.LXiREIT.com and on the LondonMetric website at www.LondonMetric.com.

All references in this announcement to times are to times in London.

Enquiries

LXi REIT plc	via H/Advisors Maitland
Cyrus Ardalan, Non-Executive Chairman
Hugh Seaborn, Non-Executive Senior Independent Director
Ismat Levin, Non-Executive Independent Director
Sandy Gumm, Non-Executive Director
Nick Leslau, Non-Executive Director
Lazard & Co., Limited (Lead Financial Adviser)	[phone]
Patrick Long
Jolyon Coates
Sebastian O'Shea-Farren
Jefferies International Limited (Financial Adviser and Corporate Broker)	[phone]
Rishi Bhuchar
Tom Yeadon
Ed Matthews
Paul Bundred
Santander Corporate & Investment Banking (Financial Adviser)	[phone]
Oliver Tucker
Ting Le Deng
Benni Azaria
H/Advisors Maitland (Communications Adviser)	[phone]
James Benjamin
Rachel Cohen

Bryan Cave Leighton Paisner LLP is acting as legal adviser to LXi in connection with the Merger.

NOTICES

Lazard & Co., Limited ("Lazard"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority ("FCA"), is acting exclusively as financial adviser and Rule 3 financial adviser to LXi and no one else in connection with the Merger and will not be responsible to anyone other than LXi for providing the protections afforded to clients of Lazard nor for providing advice in connection with the Merger or any matter referred to in this announcement. Neither Lazard nor any of its affiliates (nor any of their respective directors, officers, employees or agents), owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Lazard in connection with the Merger, this announcement, any statement contained herein or otherwise. Lazard has given, and not withdrawn, its consent to the inclusion in this announcement of the references to its name and the advice it has given to LXi in the form and context in which they appear.

Jefferies International Limited ("Jefferies"), which is authorised and regulated by the FCA in the United Kingdom, is acting exclusively for LXi and no one else in connection with the matters referred to in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than LXi for providing the protections afforded to clients of Jefferies nor for providing advice in relation to any matter referred to in this announcement or any transaction or arrangement referred to herein. Neither Jefferies nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Jefferies in connection with this announcement, any statement contained herein, any transaction or arrangement referred to herein, or otherwise.

Banco Santander, S.A. ("Santander") is a credit institution which is registered with the Bank of Spain with number 0049. Banco Santander, S.A., London Branch is a branch of Santander with its principal place of business located at 2 Triton Square, Regent's Place, London NW1 3AN and is authorised by the Bank of Spain and is subject to regulatory oversight on certain matters in the UK by the FCA and the Prudential Regulatory Authority (the "PRA"). Santander is acting exclusively as financial adviser to LXi and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than the LXi for providing the protections afforded to clients of Santander or any of its affiliates, or for providing advice in relation to any matter referred to in this announcement.  Neither Santander, nor any of its affiliates, owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Santander in connection with this announcement or any matter referred to herein.

 

END