t
Picton Property Income Limited announced on 4 April 2025 that it has bought back 11,705,596 Ordinary Shares for approximately £7.8 million since its share buyback programme commenced. The company increased the maximum aggregate consideration of the programme by 25%, from £10 million to £12.5 million. The programme is now set to conclude no later than 21 May 2025.
| Date | 4 Apr 2025 |
| Time | 07:00:04 |
| Category | Corporate updates |
| ID | 6220D |
4 April 2025
PICTON PROPERTY INCOME LIMITED
('Picton' or the 'Company')
Share Buyback Programme - Update
Further to the announcements on 30 January 2025 and 7 February 2025 Picton has, since the commencement of the share buyback programme (the 'Programme'), bought back 11,705,596 Ordinary Shares for consideration of approximately £7.8 million.
Following completion of the asset disposal announced on 31 March 2025, the Company today announces a 25% increase in the maximum aggregate consideration of the Programme, from £10 million to £12.5 million, to enable the programme to continue until the release of the Company's annual results. The programme will conclude no later than 21 May 2025.
The Board continues to believe that the share price materially undervalues the Company, and that the Programme represents an attractive use of proceeds, alongside continued investment into the existing portfolio.
All other details announced regarding the Programme remain unchanged.
For further information:
Picton
Kathy Thompson, Company Secretary
020 7011 9988, [email protected]
Tavistock
James Verstringhe
020 7920 3150, [email protected]
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
LEI: 213800RYE59K9CKR4497
ENDS