PICTON PROP INCOME

Picton shareholders have approved an all-share takeover by LondonMetric Property Plc and Schroder Real Estate Investment Trust by substantial majorities (95.20% at the court meeting; 89.78% at the general meeting). The transaction will be implemented as a court‑sanctioned Scheme of Arrangement under Guernsey law and remains subject to court approval at a hearing on 8 September 2026. The scheme is expected to become effective on 10 September 2026; trading in Picton shares will then be suspended and the listing cancelled. » More on de.investing.com

Picton Property Income has declared an interim dividend of 0.69 pence per share for the quarter 1 April–30 June 2026. The share will trade ex-dividend on 6 August, the record date is 7 August and payment is scheduled for 28 August; the distribution will be designated as a Property Income Distribution. The announcement was made alongside a recommended firm takeover offer, for which no details were given in the release. Picton manages a UK commercial property portfolio valued at £702m (45 properties, focus on industrial, around 300 tenants). » More on de.investing.com

LondonMetric Property and Schroder Real Estate Investment Trust have improved their all‑share offer for Picton Property Income, valuing Picton at 77.0 pence per share. The consortium increased the exchange ratio for SREIT to 0.894 shares per Picton share; the LondonMetric ratio remains at 0.190. The offer represents a 6.8% premium to Wednesday’s closing price and is unanimously recommended by Picton’s board, subject to due diligence and finalisation of documentation. TR Property Investment Trust has indicated it intends to support the offer with its 11.4% holding, and a scheme of arrangement is being sought. » More on de.investing.com