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Result of Issue: Investor demand has significantly exceeded the targeted size of Issue

The Board of Directors of Tritax EuroBox is pleased to announce the results of the Placing, Open Offer, Offer for Subscription and Intermediaries Offer of new ordinary shares in the Company as described in the prospectus published by the Company on 19 February 2021.

05 Mar 2021

Investor demand for the Issue has significantly exceeded the targeted size of approximately £173 million (€200 million). The Board, after careful consideration with the Manager and in consultation with its Joint Financial Advisers, has determined to increase the size of the Issue to approximately £198.4 million (€230 million) through the Placing Programme. In taking this decision the Board has taken into account the strength of the Manager’s near-term investment pipeline.

A total of 192,633,688 New Ordinary Shares will be issued at a price of 103 pence per New Ordinary Share pursuant to the Issue, of which 57,232,790 New Ordinary Shares will be issued pursuant to the Open Offer (including under the Excess Application Facility), 4,386,471 New Ordinary Shares will be issued pursuant to the Offer for Subscription, 3,206,663 New Ordinary Shares will be issued pursuant to the Intermediaries Offer and 127,807,764 New Ordinary Shares will be issued under the Placing.

The Euro equivalent Issue Price has been fixed at 119.3976 cents per New Ordinary Share, based on the Relevant Euro Exchange rate of 1.1592. All valid applications under the Open Offer (including Excess Applications) have been met in full. Notwithstanding the increased size of the Issue, applications for the New Ordinary Shares exceeded the total number of shares to be issued and accordingly a scaling back exercise has been undertaken with respect to applications received pursuant to the Placing, the Offer for Subscription and the Intermediaries Offer.

Commenting on today’s announcement, Robert Orr, Chairman of Tritax EuroBox plc, said: “We are delighted by the success of this oversubscribed Issue. On behalf of the Directors and the Manager I would like to thank existing shareholders for their strong support and welcome a range of new investors to the Company.” 

Nick Preston, Fund Manager of Tritax EuroBox plc, commented: “This fundraise will allow us to capitalise further on the significant opportunity that currently exists in the continental European logistics real estate market. In light of the strength of investor demand and reflecting our confidence in both the depth and near-term availability of our investment pipeline we have increased the size of the Issue. We look forward to updating investors as we execute on these exciting investment opportunities and further strengthen and diversify our portfolio.”

Jefferies International Limited  and Van Lanschot Kempen Wealth Management N.V. acted as joint global coordinators, joint bookrunners and joint financial advisers in relation to the Issue. Akur Limited  acted as joint financial adviser. Applications have been made for all of the New Ordinary Shares to be admitted to the premium listing segment of the Official List of the UK Financial Conduct Authority (the “FCA”) and to be admitted to trading on the London Stock Exchange's main market for listed securities (“Admission”). The Issue remains conditional upon inter alia, the Resolutions relating to the Issue having been passed by the Company's shareholders at the General Meeting (scheduled for 8 March 2021), the Placing Agreement becoming unconditional in all respects, and Admission becoming effective. It is expected that Admission will become effective, and that dealings in the Placing Shares will commence, at 8:00 am on 10 March 2021.

Immediately following Admission, the Company's issued share capital will consist of 615,360,961 Ordinary Shares carrying one vote each. The Company does not hold any shares in treasury. Therefore, following Admission, the total number of voting rights in the Company will be 615,360,961. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Indicative Timetable
General Meeting 11.00 a.m. on 8 March 2021
Announcement of the results of the General Meeting 8 March 2021
Admission and commencement of dealings of New Ordinary Shares on the London Stock Exchange 8.00 a.m. on 10 March 2021
CREST stock accounts credited (where applicable) 10 March 2021
Despatch of definitive share certificates (where applicable) Week commencing 22 March
2021 (or as soon as possible thereafter)
The dates and times specified above are subject to change. References to times are to London times unless otherwise stated.

Dealing Codes
The dealing codes for the Ordinary Shares are as follows: ISIN GB00BG382L74
SEDOL (in respect of Ordinary Shares traded in Sterling) BG382L7
Ticker (in respect of Ordinary Shares traded in Sterling) EBOX
SEDOL (in respect of Ordinary Shares traded in Euro) BG43LH0
Ticker (in respect of Ordinary Shares traded in Euro) BOXE
Unless otherwise defined, capitalised terms used in this announcement shall have the same meaning as set out in the Prospectus.

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Tritax Eurobox Plc EBOX Result Of Issue 5Mar21 FINAL
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