Balanced Commercial Property Trust Ltd - Strategic Review Update
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 OR REGULATIONS OF THAT JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
For Immediate Release
("BCPT" or the "Company")
Strategic Review Update
On
Accordingly, since commencing the Strategic Review, the Board has undertaken an open consultation process with a significant proportion of shareholders to hear their priorities for their investment in the Company. The Board would like to thank shareholders for the strong support shown for the Strategic Review and the constructive feedback to date on the options being considered as part of the Strategic Review. A range of views have been expressed on the future direction of the Company and, generally, shareholder feedback to date has confirmed the need for change from the status quo.
The Board is also pleased to have received interest from a number of credible third parties who are currently reviewing information in respect of the Company and its portfolio that has been provided to them.
There can be no certainty at this stage that the final terms of any proposal that may be received would be sufficiently attractive to merit a Board recommendation. The Board continues to pursue actively such third party interest, alongside considering other options such as a managed wind down, as part of the Strategic Review.
The Board continues to welcome investor feedback on the strategic options for the Company and invites shareholders to share their views with the Chairman ( chairmanBCPT@georgeson.com ) and the Company's advisers, whose details are set out below .
The Board also intends to use the Company's forthcoming AGM as an additional opportunity to hear shareholders' views on the Company's various strategic options. The Board encourages shareholders to vote at the AGM and either attend in person or to submit any questions in advance of the meeting to the email address shown above. The AGM will be held at
We look forward to providing further updates, as appropriate, in the coming months.
For further information, please contact:
Balanced Commercial Property Trust Limited viaBuchanan Paul Marcuse (Chairman) chairmanBCPT@georgeson.comDickson Minto Advisers LLP (Strategic Review +44 (0)20 7649 6823 Joint Financial Adviser)Douglas Armstrong Barclays Bank PLC , acting through its +44 (0)20 7623 2323 investment bank (Joint Financial Adviser)Dion Di Miceli /Bronson Albery / Callum West BCPTstrategicreview@barclays.com Buchanan +44 (0)20 7466 5000Helen Tarbet / Henry Wilson /George Beale BCPT@buchanancomms.co.uk
Important notices
Barclays, which is authorised by the
In accordance with the
City Code on Takeovers and Mergers (the "
Code
"), normal
This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.
The release, publication or distribution of this announcement in jurisdictions outside the
Publication on a website
In accordance with Rule 26.1 of the Code, a copy of this announcement will, subject to certain restrictions relating to persons resident in restricted jurisdictions, be available on the Company's website at
https://www.balancedcommercialproperty.co.uk
no later than 12 noon (
MAR
This announcement is released by the Company and the information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Article 7 of the
LEI Number
The Company's LEI Number is 213800A2B1H4ULF3K397.
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