Wrap Text
Results of the Issue
SUPERMARKET INCOME REIT PLC
(Incorporated in the United Kingdom)
Company Number: 10799126
LSE Share Code: SUPR
JSE Share Code: SRI
ISIN Code: GB00BF345X11
THIS ANNOUNCEMENT (“ANNOUNCEMENT”) AND THE INFORMATION CONTAINED HEREIN IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY OTHER
JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER OF SECURITIES IN THE
UNITED STATES, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND OR ANY OTHER
JURISDICTION.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE
OR FORM A PART OF A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT. NOTHING
HEREIN SHALL CONSTITUTE OR FORM PART OF ANY OFFER, INVITATION OR
RECOMMENDATION TO PURCHASE, SELL OR SUBSCRIBE FOR ANY SECURITIES IN ANY
JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INFORMATION THAT PRIOR TO ITS PUBLICATION IN THIS
ANNOUNCEMENT WAS INSIDE INFORMATION.
3 November 2026
SUPERMARKET INCOME REIT PLC
(the "Company" or, together with its subsidiaries, the “Group”)
Results of the Issue
Supermarket Income REIT plc is pleased to announce that it has raised gross proceeds of £60 million
(the “Issue”), pursuant to the terms and conditions set out in the Company’s launch announcement
published today (the “Launch Announcement”). The net proceeds of the Issue, alongside prudent use
of leverage, will enable the Company to fund an accretive transaction pipeline for an aggregate
consideration of c.£65.2 million. The New Ordinary Shares will be issued at a price of 82.0 pence per
New Ordinary Share (the “Issue Price”).”
The Issue comprises, in aggregate, the issue of 73,170,732 New Ordinary Shares which will be issued
pursuant to (i) a placing to eligible investors (the “Placing”); (ii) a placing to selected qualifying investors
in South Africa (the “South African Placing”); and (iii) a retail offer to existing and new retail investors
in the UK made via RetailBook (the “Retail Offer”). The New Ordinary Shares being issued represent,
in aggregate, approximately 5.4 per cent. of the existing issued ordinary share capital of the Company
prior to the Issue.
Goldman Sachs International (“Goldman Sachs”), Peel Hunt LLP (“Peel Hunt”) and Stifel Nicolaus
Europe Limited (“Stifel”) acted as joint bookrunners (the “Joint Bookrunners”) in respect of the
Placing. PSG Capital Proprietary Limited (“PSG Capital”) acted as sole bookrunner and placing agent
in respect of the South African Placing.
The Company has respected the principles of pre-emption through the allocation process insofar as
possible, while also allowing the participation of new investors. The Company is pleased by the strong
support it has received from new investors and existing shareholders.
The Company has undertaken to the Joint Bookrunners that, between the date of the Placing
Agreement and the date which is 90 calendar days after Admission, it will not enter into certain
transactions involving or relating to the Ordinary Shares, without the prior written consent of the Joint
Bookrunners (such consent not to be unreasonably withheld or delayed).
Admission
Applications will be made for the New Ordinary Shares to be admitted to trading on the London Stock
Exchange’s main market for listed securities (“UK Admission”), and for the listing and trading of the
New Ordinary Shares on the premium segment of the main board of the Johannesburg Stock Exchange
(the “JSE”) (“JSE Admission” and, together with UK Admission, “Admission”). It is expected that UK
Admission will become effective, and that dealings in the New Ordinary Shares will commence on the
London Stock Exchange, at 8.00 a.m. (GMT) on 10 November 2026, and that JSE Admission will
become effective, and dealings will commence on the JSE, at 9.00 a.m. (SAST) on 10 November 2026,
or such later date as the Company, the Joint Bookrunners and PSG Capital may agree, being not later
than 20 November 2026.
The New Ordinary Shares will, when issued and following Admission, be credited as fully paid and will
rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all
dividends and other distributions declared, made or paid by reference to a record date falling after the
date of the allotment of the New Ordinary Shares (save for any dividends or other distributions declared,
made or paid by reference to a record date prior to the allotment of the New Ordinary Shares).
Following Admission, the Company will have 1,439,891,845 Ordinary Shares in issue. The Company
does not hold any Ordinary Shares in treasury and, therefore, following Admission, the total number of
voting rights in the Company will be 1,439,891,845. This figure may be used by Shareholders as the
denominator for the calculations by which they may determine if they are required to notify their interest
in, or a change to their interest in, the share capital of the Company under the FCA’s Disclosure
Guidance and Transparency Rules.
The Issue is conditional on, inter alia: (i) the Placing Agreement not having been terminated in
accordance with its terms; and (ii) UK Admission.
Director and PDMR participation in the Issue
The following directors of the Company have participated in the Issue. Details of such subscriptions are
as follows:
Number of shares held Number of shares Number of shares held
Director prior to the Issue subscribed for in the after the Issue
Issue
Robert Abraham 347,371 30,487 377,858
Michael Perkins 60,332 10,365 70,697
Roger Blundell 200,000 20,000 220,000
The Company will shortly make a notification and public disclosure of transactions by the Directors and
persons discharging managerial responsibilities and persons closely associated with them in
accordance with the requirements of UK MAR giving more details of the above dealings.
Capitalised terms used but not defined in this announcement shall have the meaning given to them in
the Launch Announcement.
Rob Abraham, Chief Executive Officer of the Company, said:
“The strong demand we have seen for this raise from both existing and new shareholders is a clear
endorsement of our strategy and the opportunities we continue to see across the grocery real estate
sector. These high-quality acquisitions will further diversify our portfolio across grocery operators,
locations and asset types, while strengthening our income stream and supporting earnings growth. We
are grateful to our shareholders for their support and look forward to building on our position as the
UK’s leading grocery landlord.”
Dealing codes
Ticker: SUPR (London Stock Exchange) and SRI (Johannesburg Stock Exchange)
ISIN for the New Ordinary Shares: GB00BF345X11
SEDOL for the New Ordinary Shares: BF345X1
The Company's legal entity identifier: 2138007FOINJKAM7L537
The Company has a primary listing on the London Stock Exchange and a secondary listing on the JSE.
For further information, please contact:
Supermarket Income REIT plc
Rob Abraham / Mike Perkins / Chris McMahon ir@suprplc.com
Goldman Sachs International
Tom Hartley / Andreas Bjork / George MacGregor +44 (0)20 7774 1000
Peel Hunt LLP
Capel Irwin / Chloe Ponsonby / Sohail Akbar / Henry +44 (0)20 7418 8900
Nicholls
Stifel Nicolaus Europe Limited
Rajpal Padam / Mark Whitfeld / Francis North / Catriona +44 (0)20 7710 7600
Neville
PSG Capital Proprietary Limited (SA Adviser, Sole SA
Bookrunner and Placing Agent, JSE Sponsor)
Terence Kretzmann / Calvin Craig +27 (0)81 831 2709
terencek@psgcapital.com
Headland Consultancy
Susanna Voyle / Jack Gault / Dan Mahoney +44 (0)20 3805 4885
SUPR@headlandconsultancy.com
Pre-Emption Group Reporting
The Issue is a non-pre-emptive issue of equity securities for cash and accordingly the Company
makes the following post transaction report in accordance with the most recently published Pre-
Emption Group Statement of Principles (2022).
Name of Issuer Supermarket Income REIT plc
Transaction details In aggregate, the issue of 73,170,732 new Ordinary Shares represents
approximately 5.4% of the Company’s issued ordinary share capital prior
to the Issue.
Settlement for the New Ordinary Shares and UK Admission is expected to
take place on or before 8.00 a.m. (GMT) on 10 November 2026 and JSE
Admission is expected to take place on or before 9.00 a.m. (SAST) on 10
November 2026.
Use of proceeds The net proceeds of the Issue, alongside prudent use of leverage, will be
used by the Company to fund an accretive transaction pipeline while
maintaining the Company’s LTV at approximately 45% on a pro-forma
basis.
Quantum of proceeds In aggregate, the Issue raised gross proceeds of approximately £60 million
and estimated net proceeds of approximately £58.5 million.
Discount The Issue Price of 82.0 pence represents a discount of approximately 0.7
per cent. to the middle market price of 82.6 pence at the time at which the
Company, the Joint Bookrunners and PSG Capital agreed the Issue Price.
Allocations Soft pre-emption has been adhered to in the allocations process.
Management was involved in the allocations process, which has been
carried out in compliance with the MiFID II Allocation requirements.
Allocations made outside of soft pre-emption were preferentially directed
towards existing shareholders in excess of their pro rata, and wall-crossed
accounts.
Consultation Prior to launch, the Joint Bookrunners and PSG Capital undertook a
targeted wall-crossing exercise with a number of the Company’s major
institutional shareholders to the extent reasonably practicable in the
context of an accelerated transaction and permitted by law.
Retail investors The Issue included a Retail Offer, for a total of 7,320,000 Retail Offer
Shares, via the RetailBook platform. Retail investors, who participated in
the Retail Offer, were able to do so at the same Issue Price as all other
investors.
The Retail Offer was made available to existing shareholders and new
investors in the UK. Investors were able to participate through Retail Book's
platform via its partner network. Investors had the ability to participate in
this transaction through ISAs and SIPPs, as well as General Investment
Accounts (GIAs). The use of the RetailBook platform meant that, to the
extent practicable on the transaction timetable, eligible UK retail investors
had the opportunity to participate in the Issue alongside institutional
investors.
Allocations in the Retail Offer were preferentially directed towards existing
shareholders in keeping with the principle of soft pre-emption.
Important Information
Goldman Sachs is authorised in the United Kingdom by the Prudential Regulation Authority and
regulated in the United Kingdom by the Prudential Regulation Authority and the Financial Conduct
Authority. Goldman Sachs is acting only for the Company as joint bookrunner in connection with the
matters described in this Announcement and is not acting for or advising any other person, or treating
any other person as its client in relation thereto and will not be responsible for providing the regulatory
protection afforded to the clients of Goldman Sachs or advice to any other person in relation to the
matters contained herein. Such persons should seek their own independent legal, investment and tax
advice as they see fit.
Neither Goldman Sachs nor any of its directors, officers, employees, advisers, affiliates or agents
accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express
or implied as to, the truth, accuracy or completeness of the information in this Announcement (or
whether any information has been omitted from this Announcement) or any other information relating
to the Company or its subsidiaries, whether written, oral or in a visual or electronic form, and howsoever
transmitted or made available or for any loss howsoever arising from any use of this Announcement or
its contents or otherwise arising in connection therewith.
Peel Hunt is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Peel
Hunt is acting only for the Company as joint bookrunner in connection with the matters described in this
Announcement and is not acting for or advising any other person, or treating any other person as its
client in relation thereto and will not be responsible for providing the regulatory protection afforded to
the clients of Peel Hunt or advice to any other person in relation to the matters contained herein. Such
persons should seek their own independent legal, investment and tax advice as they see fit.
Neither Peel Hunt nor any of its directors, officers, employees, advisers, affiliates or agents accepts any
responsibility or liability whatsoever for, or makes any representation or warranty, express or implied as
to, the truth, accuracy or completeness of the information in this Announcement (or whether any
information has been omitted from this Announcement) or any other information relating to the Company
or its subsidiaries, whether written, oral or in a visual or electronic form, and howsoever transmitted or
made available or for any loss howsoever arising from any use of this Announcement or its contents or
otherwise arising in connection therewith.
Stifel is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Stifel is
acting only for the Company as joint bookrunner in connection with the matters described in this
Announcement and is not acting for or advising any other person, or treating any other person as its
client in relation thereto and will not be responsible for providing the regulatory protection afforded to
the clients of Stifel or advice to any other person in relation to the matters contained herein. Such
persons should seek their own independent legal, investment and tax advice as they see fit.
Neither Stifel nor any of its directors, officers, employees, advisers, affiliates or agents accepts any
responsibility or liability whatsoever for, or makes any representation or warranty, express or implied as
to, the truth, accuracy or completeness of the information in this Announcement (or whether any
information has been omitted from this Announcement) or any other information relating to the Company
or its subsidiaries, whether written, oral or in a visual or electronic form, and howsoever transmitted or
made available or for any loss howsoever arising from any use of this Announcement or its contents or
otherwise arising in connection therewith.
This Announcement has been issued by and is the sole responsibility of the Company and no
representation or warranty, express or implied, is or will be made as to, or in relation to, and no
responsibility or liability is or will be accepted by the Joint Bookrunners, PSG Capital or any of their
respective affiliates or representatives as to or in relation to, the accuracy or completeness of this
Announcement or any other written or oral information made available to or publicly available to any
party or its advisers, and any liability therefore is expressly disclaimed.
This Announcement is not for publication or distribution in or into the United States. This announcement
is not an offer of securities for sale into the United States. The securities referred to herein have not
been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities
Act”), and may not be offered or sold in the United States, except pursuant to an applicable exemption
from registration. No public offering of securities is being made in the United States.
The Placing has not been approved or disapproved by the U.S. Securities and Exchange Commission,
any state securities commission in the United States or any U.S. regulatory authority, nor have any of
the foregoing authorities passed upon or endorsed the merits of the Placing, or the accuracy or
adequacy of this Announcement. Any representation to the contrary is a criminal offence in the United
States.
This Announcement may contain "forward-looking statements" with respect to certain of the Company's
plans and its current goals and expectations relating to its future financial condition, performance,
strategic initiatives, objectives and results. These forward-looking statements can be identified by the
use of forward-looking terminology, including the terms "believes", "estimates", "forecasts", "plans",
"prepares", "anticipates", "projects", "expects", "intends", "may", "will", "seeks", "should" or, in each
case, their negative or other variations or comparable terminology, or by discussions of strategy, plans,
objectives, goals, future events or intentions. These forward-looking statements include all matters that
are not historical facts. They appear in a number of places throughout this Announcement and include
statements regarding the Company's or the Directors' intentions, beliefs or current expectations
concerning, amongst other things, the Company's prospects, growth and strategy. By their nature,
forward-looking statements involve risks and uncertainties because they relate to events and depend
on circumstances that may or may not occur in the future. Forward-looking statements are not
guarantees of future performance. The Company's actual performance, achievements and financial
condition may differ materially from those expressed or implied by the forward-looking statements in
this Announcement. In addition, even if the Company's results of operations, performance,
achievements and financial condition are consistent with the forward-looking statements in this
Announcement, those results or developments may not be indicative of results or developments in
subsequent periods. Any forward-looking statements that the Company makes in this Announcement
speak only as of the date of such statement and (other than in accordance with their legal or regulatory
obligations) neither the Company, nor Joint Bookrunners nor PSG Capital, nor any of their respective
associates, directors, officers or advisers undertakes any obligation to update such
statements. Comparisons of results for current and any prior periods are not intended to express any
future trends or indications of future performance, unless expressed as such, and should only be viewed
as historical data.
The financial information contained in this Announcement has not been reviewed and reported on by
the Company’s auditors.
PSG Capital is authorised and regulated by the JSE. PSG Capital is acting exclusively for the Company
and no one else in connection with the South African Placing, the contents of this Announcement and
other matters described in this Announcement. PSG Capital will not regard any other person as its client
in relation to the South African Placing, the content of this Announcement and other matters described
in this Announcement and will not be responsible to anyone other than the Company for providing the
protections afforded to its clients or for providing advice to any other person in relation to the South
African Placing, the content of this Announcement or any other matters referred to in this
Announcement.
No representation or warranty, express or implied, is or will be made as to, or in relation to, and no
responsibility or liability is or will be accepted by Joint Bookrunners, PSG Capital or by any of their
respective affiliates or agents as to, or in relation to, the accuracy or completeness of this
Announcement or any other written or oral information made available to or publicly available to any
interested party or its advisers, and any liability therefore is expressly disclaimed.
No statement in this Announcement is intended to be a profit forecast or estimate, and no statement in
this Announcement should be interpreted to mean that earnings per Ordinary Share for the current or
future financial years would necessarily match or exceed the historical published earnings per Ordinary
Share.
The price of Ordinary Shares and any income expected from them may go down as well as up and
investors may not get back the full amount invested upon disposal of the Ordinary Shares. Past
performance is no guide to future performance. Capital is at risk and investors need to understand the
risks of investing and persons needing advice should consult an independent financial adviser.
Neither the content of the Company's website nor any website accessible by hyperlinks on the
Company's website is incorporated in, or forms part of, this Announcement.
No action has been taken by the Company, Joint Bookrunners or PSG Capital or any of their respective
affiliates, or any person acting on its or their behalf that would permit an offer of the New Ordinary
Shares or possession or distribution of this Announcement or any other offering or publicity material
relating to such New Ordinary Shares in any jurisdiction where action for that purpose is required.
Persons into whose possession this Announcement comes are required by the Company, Joint
Bookrunners and PSG Capital to inform themselves about, and to observe, such restrictions.
Date: 05/11/2026 07:05:00
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