The Board of Tritax Big Box REIT plc notes today’s announcement by Tritax Management LLP (the Manager) and Aberdeen Standard Investments (ASI) relating to ASI’s intention to acquire a 60% interest in the Manager.
The Board believes that ASI’s strategic stake enhances the overall strength and capabilities of the Manager without impacting its ability to continue the successful delivery of the Company’s long-term strategy, via the unaltered Investment Management Agreement between the Company and the Manager.
The Board is also reassured that Manager’s staff will remain unchanged, including the Company’s dedicated fund management team led by CEO, Colin Godfrey and Finance Director, Frankie Whitehead. Over recent months, to support our ongoing and long-term growth, the Manager has invested significantly in enhancing and expanding its team, and will continue to provide high-quality logistics expertise to the Company while retaining autonomy and control over all investment decisions.
Overall, the Board considers that the combination of the Manager and ASI will enhance the strength and depth of the offer to the Company. Commenting on the announcement, Sir Richard Jewson, Chairman of Tritax Big Box REIT plc said:
“With the existing dedicated Big Box team at Tritax retaining autonomy and control over investment decision making there will be no change to day-to-day operations. In the longer term, we believe that ASI’s stake strengthens the Manager through access to the resources of a large, global financial services institution, while preserving the Manager’s unique market leading logistics expertise for our shareholders. The Board looks forward to the continued service and performance that our shareholders have benefitted from since IPO.”
The Company's LEI is: 213800L6X88MIYPVR714