“The board of Urban Logistics REIT plc notes the recent press speculation and confirms that it has received a preliminary, indicative proposal from LondonMetric Property plc regarding a possible offer for the Company.
“The Board is currently reviewing the Proposal with its advisers. There can be no certainty that any offer will be made nor as to the terms of any such offer. A further announcement will be made as appropriate. Shareholders are advised to take no action.
“In accordance with Rule 2.6(a) of the Code, LondonMetric must by no later than 5.00 pm (London time) on 9 May 2025 either announce a firm intention to make an offer for Urban Logistics in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Urban Logistics, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can only be extended with the consent of the Panel on Takeovers and Mergers (the "Panel") in accordance with Rule 2.6(c) of the Code.
“This announcement has been made without the approval of LondonMetric.”
Urban Logistics is a UK-focused logistics real estate investment trust. LondonMetric is a FTSE100-listed real estate investment trust.
Shares in Urban Logistics were up 4.7% at 129.20 pence at midday on Friday in London, giving the company a total market capitalisation of £600.9 million. LondonMetric was up 0.6% at 180.10 pence, with a market capitalisation of £3.69 billion.
