Custodian REIT plc : Recommended All-Share Acquisition of Drum Income Plus REIT plc by Custodian REIT (1245964)

Custodian REIT plc (CREI) Custodian REIT plc : Recommended All-Share Acquisition of Drum Income Plus REIT plc by Custodian REIT 03-Nov-2021 / 15:55 GMT/BST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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3 November 2021

Custodian REIT plc

("Custodian REIT" or the "Company")

Recommended All-Share Acquisition of Drum Income Plus REIT plc

by Custodian REIT

On 3 September 2021, the Boards of Custodian REIT and Drum Income Plus REIT plc ("Drum") announced the terms of a recommended all-share acquisition of Drum by Custodian REIT (the "Acquisition"), to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). The circular in relation to the Scheme (the "Scheme Document") was published on 28 September 2021. Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Scheme Document.

On 19 October 2021, Drum announced that the resolution to approve the Scheme was passed at the Court Meeting by the requisite majority of Drum Shareholders and the special resolution relating to the implementation of the Scheme was also passed at the General Meeting by the requisite majority of Drum Shareholders.

On 1 November 2021, Drum announced that the Court had sanctioned the Scheme at the Sanction Hearing held on 1 November 2021.

Custodian REIT is pleased to note Drum's announcement today that the Scheme has now become Effective in accordance with its terms and the entire issued and to be issued share capital of Drum is now owned by Custodian REIT.

Admission of New Custodian REIT Shares

Applications have been made to the Financial Conduct Authority and the London Stock Exchange in relation to the admission of 20,247,054 New Custodian REIT Shares to listing on the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities, which is expected to take place by 8:00 a.m. (London time) on 4 November 2021.

A Drum Shareholder on the register of members of Drum at the Scheme Record Time, being 6.00 p.m. (London time) on 2 November 2021, will be entitled to receive 0.530 New Custodian REIT Shares for each Drum Share held. Settlement of the consideration to which any Scheme Shareholder is entitled will be effected as set out in the Scheme Document.

- Ends -

For further information, please contact:

Custodian Capital Limited 
Richard Shepherd-Cross / Ed Moore / Ian Mattioli MBE Tel: +44 (0)116 240 8740 
                                                     www.custodiancapital.com 
Numis Securities Limited (Financial Adviser and Broker to Custodian) 
Hugh Jonathan / Stuart Ord                                           Tel: +44 (0)20 7260 1000 
                                                                     www.numiscorp.com 
 
 
Camarco (Communications adviser to Custodian) 
Ed Gascoigne-Pees                                                    +44 (0) 20 3757 4984 
 
Drum Income Plus REIT plc 
Stuart Oag                                                           info@dripreit.co.uk 
 
Dickson Minto W.S. (Sponsor and Rule 3 Adviser to Drum) 
Douglas Armstrong                                                    +44 (0) 20 7649 6823

Notes to Editors

Custodian REIT plc is a UK real estate investment trust, which listed on the main market of the London Stock Exchange on 26 March 2014. Its portfolio comprises properties predominantly let to institutional grade tenants on long leases throughout the UK and is principally characterised by properties with individual values of less than GBP10 million at acquisition.

The Company offers investors the opportunity to access a diversified portfolio of UK commercial real estate through a closed-ended fund. By targeting sub GBP10 million lot size, regional properties, the Company intends to provide investors with an attractive level of income with the potential for capital growth.

Custodian Capital Limited is the discretionary investment manager of the Company.

For more information visit www.custodianreit.com and www.custodiancapital.com.

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ISIN:           GB00BJFLFT45 
Category Code:  ACQ 
TIDM:           CREI 
LEI Code:       2138001BOD1J5XK1CX76 
OAM Categories: 2.2. Inside information 
                2.2. Inside information 
Sequence No.:   125952 
EQS News ID:    1245964 
 
End of Announcement  EQS News Service 
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November 03, 2021 11:55 ET (15:55 GMT)

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