REGIONAL REIT LIMITED
(“Regional REIT” or the “Company”, together with its subsidiaries the “Group”)
Response to press speculation
Further to the Q4 trading update published on 2 February 2024 and the dividend declaration announcement on 22 February 2024 (together, the “Previous Announcements”), Regional REIT (LSE: RGL) notes the recent press speculation regarding the possibility of the Company undertaking an equity capital raise of around £75 million.
As indicated in the Previous Announcements, the Company is actively exploring a range of refinancing options, including debt and/or equity, in respect of the existing £50 million retail bond (the “Retail Bond”) given its maturity date in August 2024.
The Company confirms that significant preparatory work has been undertaken to date in respect of both the debt and equity options, which remain under active consideration.
In the event that the Company proceeds with an equity issue, the Company expects that it would be at a material discount to the Company’s current share price and would be subject to, amongst other things, shareholder approval.
The Company continues to consider its options and a further announcement will be made when appropriate.
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