On 29 September 2023 Ediston Property Investment Company plc (the “Company“) sold the entirety of the EPIC Group’s property portfolio to RI UK 1 Limited, a wholly owned subsidiary of Realty Income Corporation, for a total gross aggregate cash consideration of £196.8 million (comprising the headline consideration of £200.8 million less agreed deductions of £4.0 million) (the “Disposal“).
It is the intention of the board of directors of the Company (the “Board“) to seek shareholder approval for the voluntary liquidation of the Company with the aim of distributing the Company’s net assets (which comprise of cash) to shareholders by the end of this calendar year, unless an appropriate corporate opportunity is identified in the meantime which, in the view of the Board (having consulted with key shareholders), merits further consideration.
Documentation relating to the Disposal can be found by clicking this link.