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Recommended Proposed Transfer of Listing Category and Notice of General Meeting
SUPERMARKET INCOME REIT PLC
(Incorporated in the United Kingdom)
Company Number: 10799126
LSE Share Code: SUPR
JSE Share Code: SRI
ISIN Code: GB00BF345X11
LEI: 2138007FOINJKAM7L537
("SUPR" or the "Company")
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO
OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS
OR REGULATIONS OF THAT JURISDICTION.
FOR IMMEDIATE RELEASE
29 May 2025
RECOMMENDED PROPOSED TRANSFER OF LISTING CATEGORY AND NOTICE OF GENERAL MEETING
Supermarket Income REIT plc (LSE: SUPR), announces that a circular (the "Circular") in relation to the proposed
transfer of the Company's listing category from the closed-ended investment funds category to the equity shares
(commercial companies) category of the Official List (the "Proposed Transfer") is expected to be published today.
Background to and reasons for the Proposed Transfer
On 4 March 2025, the Company announced the proposed internalisation of its management function (the
"Internalisation"), which became effective on 25 March 2025. At the time of the announcement of the
Internalisation, the Company also stated its intention seek a transfer of its listing. The Board is pursuing the
Proposed Transfer as it believes that the equity shares (commercial companies) category of the Official List is
more suited to a UK REIT with an internalised management structure and business strategy as set out in the
Circular, alongside the reasons set out below:
• it will significantly improve comparability for investors, as the majority of internally managed UK REITs
are listed on the equity shares (commercial companies) category;
• the Company's closest peers are listed under the equity shares (commercial companies) category;
• the Company will benefit from improved operational flexibility, efficiency and accountability of the
Group's executive management to shareholders;
• it will reduce the costs and administrative burden associated with being a closed-ended investment fund
(in particular, AIFM costs), thereby simplifying the business model and enhancing shareholder returns.
The Company will no longer need to have a licensed AIFM;
• the Board has concluded that generating attractive shareholder returns also arguably requires a more
commercial/active asset management approach and having the flexibility to pursue new strategies will
be a key element of its ongoing success;
• the Board believes that being categorised as a commercial company will increase investor demand both
from the UK and overseas;
• it will potentially attract a wider range of research analysts; and
• the Board has consulted with certain shareholders, who are strongly supportive of the Proposed
Transfer, particularly for the reasons outlined above.
Capitalised words and expressions not otherwise defined in this announcement shall have the meaning given in
the Circular.
Circular
The Circular is expected to be published and posted later today and will be available on the Company's website
at https://supermarketincomereit.com/investor-centre/. The Circular sets out, among other things, a notice of a
general meeting (the "General Meeting") to be held on 17 June 2025 at which a special resolution to approve the
Proposed Transfer will be proposed (the "Resolution"). The Proposed Transfer is subject to the approval from a
majority of not less than 75% of the votes attaching to the Ordinary Shares voting on the Resolution and is
expected to become effective on 16 July 2025.
Expected Timetable
Date on which Shareholders must be registered in the close of business on 27 May 2025
Company's register of members to receive the
Circular
Publication of Circular 29 May 2025
Last day for SA Register Shareholders to trade 10 June 2025
Ordinary Shares on the JSE in order to be recorded in
the Company's SA register of members to be entitled
to vote at the General Meeting
Date on which Shareholders must be registered in the close of business on 13 June 2025
Company's register of members to be entitled to vote
at the General Meeting
Latest time and date for receipt of proxy 10.00 a.m. on 13 June 2025
appointments from UK Register Shareholders
Latest time and date for receipt of proxy 11.00 a.m. (South African Standard Time) on
appointments from SA Register Shareholders 12 June 2025
General Meeting 10.00 a.m. on 17 June 2025
Proposed Transfer Effective Date 16 July 2025 (Note2)
Notes:
(1) The times set out in the expected timetable of principal events above and mentioned throughout this
announcement are times in London unless otherwise stated, and may be subject to change, in which event
details of the new times and dates will be notified to Shareholders.
(2) These times and dates are indicative only and will depend on, amongst other things, the date upon which
FCA and shareholder approval is granted.
General Meeting
The Board is convening the General Meeting to be held at 10.00 a.m. on 17 June 2025 at the offices of
Macfarlanes LLP, 20 Cursitor Street, London EC4A 1LT.
As shareholder participation is important to the Company, shareholders are encouraged to vote ahead of the
General Meeting by appointing a proxy in the manner described in the Circular, no later than 10.00 a.m. on 13
June 2025.
FOR FURTHER INFORMATION
Supermarket Income REIT plc ir@suprplc.com
Rob Abraham / Mike Perkins / Chris McMahon
Stifel Nicolaus Europe Limited +44 (0)20 7710 7600
Mark Young / Rajpal Padam / Catriona Neville
Goldman Sachs International +44 (0)20 7774 1000
Tom Hartley / Luca Vincenzini
FTI Consulting +44 (0)20 3727 1000
Dido Laurimore / Eve Kirmatzis / Andrew SupermarketIncomeREIT@fticonsulting.com
Davis
Notes to Editors
Supermarket Income REIT plc (LSE: SUPR, JSE: SRI) is a real estate investment trust dedicated to investing in
grocery properties which are an essential part of the feed the nation infrastructure. The Company focuses on
grocery stores which are omnichannel, fulfilling online and in-person sales. The Company's supermarkets are let
to leading supermarket operators in the UK and Europe, diversified by both tenant and geography.
The Company's assets earn long-dated, secure, inflation-linked, growing income. The Company targets a
progressive dividend and the potential for capital appreciation over the longer term.
The Company is listed on the Closed-ended investment funds category of the FCA's Official List and its Ordinary
Shares are traded on the LSE's Main Market. The Company also has a secondary listing on the Main Board of the
JSE Limited in South Africa.
Further information is available on the Company's website www.supermarketincomereit.com
Stifel Nicolaus Europe Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting
exclusively for Supermarket Income REIT plc and no one else in connection with this announcement and will not be responsible to anyone
other than the Company for providing the protections afforded to clients of Stifel Nicolaus Europe Limited nor for providing advice in
connection with the matters referred to in this announcement.
Goldman Sachs International, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority
and the Prudential Regulation Authority in the United Kingdom, is acting exclusively for Supermarket Income REIT plc and no one else in
connection with this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to
clients of Goldman Sachs International nor for providing advice in connection with the matters referred to in this announcement.
United Kingdom
Sponsor: PSG Capital
Date: 29-05-2025 08:00:00
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