Tritax Big Box REIT PLC

Pre-Annual General Meeting Information • Mar 31, 2022

National Storage Mechanism | Additional information

RNS Number : 7893G

Tritax Big Box REIT plc

31 March 2022

31 March 2022

Tritax Big Box REIT plc

(the "Company")

NOTICE OF ANNUAL GENERAL MEETING

PROPOSED AMENDMENTS TO THE IMA

The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX) announces that the Annual General Meeting ("AGM") of the Company will be held on Wednesday, 4 May 2022 at 10.00 am at Taylor Wessing LLP, 5 New Street Square, London, EC4A 3TW.

In accordance with Listing Rule 9.6.1, copies of the following documents have been submitted to the National Storage Mechanism and will shortly be available at https://data.fca.org.uk/#/nsm/nationalstoragemechanism:

1.     Notice of 2022 Annual General Meeting;

2.     Form of Proxy;

3.     2021 Annual Report; and

4.     2021 Annual Report in Structured Electronic Format ("ESEF")

The above documents have been posted to Shareholders, who have requested to receive paper documentation, and all documents are also available on the Company's website at www.tritaxbigbox.co.uk.

As at today's date the Company has 1,868,826,992 ordinary shares in issue, all of which have voting rights.

Proposed amendments to the Investment Management Agreement

At the AGM, the Company will seek shareholder approval in relation to certain proposed changes which the Company and Tritax Management LLP (the "Manager") have agreed to make to the Investment Management Agreement entered into between them dated, 11 September 2017 ("IMA").

The IMA allowed for an opportunity for renegotiation from 31 December 2019. As a result, the Management Engagement Committee of the Board conducted a detailed review of the IMA and concluded that certain aspects of the agreement should be modernised to reflect the growth of the business and to support its ongoing strategy. It is recognised that the industry has evolved since the agreement was initially signed and the Board were mindful to ensure that the terms of the IMA remained aligned to the Company's peers and market practice. The key changes include a reduction in the overall investment management fee payable, which is expected to have a beneficial effect on the Company's EPRA cost ratio, and an extension to the term of the agreement. The extension, along with an expansion of key person principles, provides additional security to the Company in terms of its main service provider as well as supporting the recruitment and retention of key personnel in the Manager.

The principal proposed amendments are set out in the Notice of 2022 Annual General Meeting.

The proposed amendments to the term of the agreement constitute a smaller related party transaction under Listing Rule 11.1.10 and the information in this announcement is being notified pursuant to Listing Rule 11.1.10(c)R.

The Company is not required to obtain Shareholder approval in relation to the proposed amendments but is giving Shareholders the opportunity to approve them as a matter of good corporate governance. The Company consulted with major Shareholders during the review period.

The Board is closely monitoring the Covid-19 situation and, although we do not expect there to be any restrictions on social contact at the time of the AGM, Shareholders should note that further changes may need to be put in place at short notice. The Company will make any further updates as required about the meeting on its website at www.tritaxbigbox.co.uk. 

FOR FURTHER INFORMATION, PLEASE CONTACT:

Tritax Group	+44 (0) 20 7290 1616
Hana Beard (Group Company Secretary)
Maitland/AMO (Communications Adviser)	+44 (0) 77 4711 3930
James Benjamin	tritax-maitland@maitland.co.uk

The Company's LEI is: 213800L6X88MIYPVR714

NOTES:

Tritax Big Box REIT plc is the only listed vehicle dedicated to investing in very large logistics warehouse assets ("Big Boxes") in the UK and is committed to delivering attractive and sustainable returns for Shareholders. Investing in and actively managing existing built investments, land suitable for Big Box development and developments predominantly delivered through a pre-let forward funded basis, the Company focuses on large, well-located, modern Big Box logistics assets, let to institutional-grade tenants on long-term leases (typically at least 12 years in length) with upward-only rent reviews and geographic and tenant diversification throughout the UK. The Company seeks to exploit the significant opportunity in this sub-sector of the UK logistics market owing to strong tenant demand and limited supply of Big Boxes.

The Company is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies ("REIT"), is listed on the premium segment of the Official List of the UK Financial Conduct Authority and is a constituent of the FTSE 250, FTSE EPRA/NAREIT and MSCI indices.

Further information on Tritax Big Box REIT is available at www.tritaxbigbox.co.uk

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