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On 7 February 2025, Picton Property Income Limited announced an update to its share buyback programme, initially announced on 30 January 2025 with a maximum aggregate consideration of £10 million. Since 30 January 2025, Picton has bought back 648,636 Ordinary Shares at a total cost of approximately £0.4 million. Picton also provided irrevocable, non-discretionary instructions to its corporate broker, Stifel Nicolaus Europe Limited, commencing today and ending 30 April 2025.
| Date | 7 Feb 2025 |
| Time | 12:49:31 |
| Category | Miscellaneous |
| ID | 3868W |
7 February 2025
PICTON PROPERTY INCOME LIMITED
('Picton' or the 'Company')
LEI: 213800RYE59K9CKR4497
Share Buyback Programme - Update
As previously announced on 30 January 2025, Picton has commenced a share buyback programme (the 'Programme') with a maximum aggregate consideration of £10 million. Since this announcement, 648,636 Ordinary Shares have been bought back pursuant to the Programme at a total cost of approximately £0.4 million.
Picton today announces it has provided irrevocable, non-discretionary instructions to its corporate broker, Stifel Nicolaus Europe Limited ('Stifel'), commencing today and ending 30 April 2025. Any future acquisitions under the Programme will be carried out within certain pre-set parameters. Stifel will act as riskless principal, carrying out the Company's instructions through the acquisition of Ordinary Shares in the Company for subsequent repurchase by the Company. Stifel has absolute discretion and independence in respect of all trading decisions it may make in respect of the Ordinary Shares.
All other details regarding the Programme remain as announced on 30 January 2025.
For further information:
Picton
Kathy Thompson, Company Secretary
020 7011 9988, kathy.thompson@picton.co.uk
About Picton
Established in 2005, Picton is listed on the main market of the London Stock Exchange and is a constituent of a number of EPRA indices including the FTSE EPRA Nareit Global Index.
Picton owns and actively manages a £737 million UK commercial property portfolio, invested across 48 assets and with around 350 occupiers (as at 31 December 2024).
Through an occupier focused, opportunity led approach, Picton aims to be one of the consistently best performing diversified UK REITs and has delivered upper quartile outperformance and a consistently higher income return than the MSCI Quarterly Property Index since launch.
With a portfolio strategically positioned to capture income and capital growth, currently weighted towards the industrial sector, Picton's agile business model provides flexibility to adapt to evolving market trends over the long-term.
Picton has a responsible approach to business and is committed to being net zero carbon by 2040.
For more information please visit: www.picton.co.uk
ENDS