LXI REIT

LXI REIT (UK): Merger with Secure Income REIT (UK) 

Informative Notice

FTSE Russell notes the scheme of arrangement to effect the merger between LXI REIT (UK, BYQ46T4, FTSE 250 Index, GEIS Small Cap Index) and Secure Income REIT (UK, BLMQ9L6, FTSE AIM UK 50 Index). Shareholders will receive 3.32 LXI REIT shares for each Secure Income REIT share held. Further, shareholders may elect to receive a partial cash alternative with a basic entitlement of GBP 1.1888 and 2.488 LXI REIT shares for each Secure Income REIT share held, subject to a 25% cap on the total value of the consideration apportioned to the partial cash alternative. The election period will expire on 01 July 2022. The scheme of arrangement is subject to court sanctioning and the last day of dealings in Secure Income REIT is expected to take place on 05 July 2022.

LXI REIT will be upweighted within its index membership and Secure Income REIT will be removed from FTSE Russell indices (and replaced where appropriate). FTSE Russell intends to announce the resultant index changes upon receipt of the election results, with any changes applied providing two trading days notice (i.e. effective from the open of 06 July 2022 at the earliest).

Further index notices will be published in due course.