UK Commercial Property REIT (UKCM) shareholders have unanimously voted in favour of the all-share merger with Tritax Big Box REIT (BBOX).
At a shareholder meeting, 94.6% of UKCM shareholders backed the proposed merger, which would create a REIT with a market capitalisation of circa £3.9bn.
The vote cleared the way for the merger to complete later this month. It is expected that the listing and trading in shares of UKCM will end no later than 8am on 17 May, with new BBOX shares issued to scheme shareholders by this date. The long stop date for the deal to conclude is 21 September 2024.
Margaret Littlejohns, senior independent director of UKCM, said: “We are pleased that the recommended transaction received overwhelming support, with almost 95% of votes in favour of the proposals. We believe this clearly demonstrates shareholders’ belief in the compelling benefits that the combination with Tritax Big Box REIT brings.”
