AEW UK Long Lease REIT IPO

AEW UK REIT Plc Share Offer - Now CLOSED

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The AEW UK REIT Plc share offer is now closed

22nd February 2018

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The AEW UK REIT Plc - Share Offer Overview

Further to the announcement made by AEW UK REIT Plc on 11 September 2017, the board of directors of the Company is pleased to announce an initial placing, initial offer for subscription and intermediaries offer of new shares at a price of 100.5 pence per new share.

Cornhill Capital has been appointed as intermediary in this offer. This advertisement is issued by, and is the sole responsibility of Cornhill Capital Limited.

AEW UK REIT Plc invests in and intensively asset manages a diversified portfolio of small, high yielding commercial properties across the UK.

Expected Timetable

  • Offer Open

    28th September 2017

  • Offer Closes:

    Thursday 19th October 2017 16.00

  • Allocation announced:

    20th October 2017

  • Trading begins:

    24th October 2017


About AEW UK REIT Plc

AEW UK REIT is seeking to raise up to £60m in this issue.  The Company invests in and intensively asset manages a diversified portfolio of small, high yielding commercial properties across the UK.

The Investment Manager has identified a strong pipeline of assets providing opportunities to invest in high income producing properties with asset management initiatives. The Company has an income focussed strategy, and is currently the highest yielding UK REIT in its peer group having declared dividends of 15.5 pence per Share since launch in April 2015. The Company is targeting an annualised 8pps dividend for the financial period ending 31 March 2018 and the interim financial period to 30 September 2018.

Additional capital value is achieved through asset management initiatives, including repositioning assets to add value, crystallising value through rent review and lease re-gears, improving the quality of the income stream and altering properties where appropriate.

 

Highlights
  • Offer priced at 100.5p per share
  • 8 pence per share dividend = c.8% yield
  • AEW UK REIT Plc is the highest yielding UK real estate investment trust
  • £139 million previously invested in a portfolio of 31 assets across multiple sectors

Risks

(Please note that these risks represent the judgement of Cornhill Capital, there may be additional risks represented in the prospectus)

  • The UK leaving the European Union, resulting in a knock to investor confidence in the UK Property market.
  • Downturn in the global economy resulting in a drop in the UK equities market.
  • As the fund invests into property, if they were forced to liquidate down the portfolio to meet obligations, they may be unable to.
  • As the fund is going to be leveraged, if they raise too much debt and fail to pay this back, it may impact their ability to pay out dividends to shareholders.

Offer Documents

Important information

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Risk Warning pre-IPO’s, IPO’s & Secondary Issues

Investments in pre-IPO’s and IPO’s involve a high degree of risk and are not suitable for all investors. A pre-IPO issue is the funding given to the company before listing. There is no guarantee that the company will list, but if it does then there is normally an increase from the pre-IPO to the IPO price, representing a profit. However, even when a company is listed on, say,  the AIM market, it is considered to be a high-risk investment, and will have wider spreads on price and be more illiquid and it may be difficult to sell the shares on a short-term basis and in some circumstances it may be difficult to sell at any price. All investments made into an IPO or new issue or in a secondary issue should always be made solely on the basis of the information provided in the relevant prospectus and any other supplementary documentation. The specific risks will be detailed in the prospectus but the value of your investment can go down as well as up and you may not get back the money you invested.  You should be sure that you fully understand the purpose of, and the reason for, the fundraising. Before you decide to invest you should obtain information regarding the business plan and note the risk factors. If you have any doubts about the suitability of an investment you should seek professional advice.

This announcement has been published by Cornhill Capital Limited.

The information contained in this announcement must not be transmitted or otherwise sent to any person in the United States, Canada, Australia, Japan or any other territory where to do so would breach applicable laws or regulations. None of [name of Intermediary], AEW UK Long Lease REIT plc (the "Company") AEW UK Investment Management LLP (the “Investment Manager”) or Fidante Partners Europe Limited accept any responsibility for any contravention of applicable securities laws and regulations by persons as a result of false information provided by such persons. This announcement is an advertisement and not a prospectus. Investors should not purchase any securities referred to in this announcement except on the basis of information contained in a final form prospectus expected to be published by the Company in due course. Copies of the prospectus will, following publication, be available, free of charge, from the Company’s registered office. [This announcement has been prepared and is the sole responsibility of [name of Intermediary] of [address of Intermediary], which is an authorised person for the purposes of the Financial Services and Markets Act 2000.] This announcement is not an offer of securities for sale in the United States. The securities to which this announcement relates have not been registered under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There will be no public offering of the securities in the United States. No offer or invitation to purchase securities in any jurisdiction is being made by the Company and, to the fullest extent permitted by law, the Company disclaims any liability or responsibility to actual or potential investors who invest in securities of the Company pursuant to the offer by the Company.