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On August 7, 2024, Picton Property Income Limited (LSE:PCTN) was informed by Intertrust Employee Benefit Trustee Limited, the trustee of its Employee Benefit Trust (the "Trust"), that it had acquired 275,000 ordinary shares at an average price of 74.9 pence per share. This purchase aligns with the Trust’s role in holding shares for employee benefits, particularly for fulfilling awards under the Company's Long-term Incentive Plan and Deferred Bonus Plan.
Current Holdings and Voting Rights
Following this transaction, the Trust now holds 2,953,342 ordinary shares, representing approximately 0.5% of Picton Property Income Limited’s total voting rights. This shareholding underscores the Company’s commitment to rewarding employees through share-based incentives.
Company Strategy and Performance
Picton Property Income Limited, established in 2005, is listed on the London Stock Exchange and features several EPRA indices, including the FTSE EPRA Nareit Global Index. The Company manages a UK commercial property portfolio valued at £718 million, encompassing 48 assets and serving approximately 350 occupiers as of June 30, 2024.
Picton focuses on an occupier-centric approach to capitalize on income and capital growth. The portfolio is predominantly weighted towards the industrial sector, reflecting the Company’s strategy to adapt to market trends. Picton has consistently outperformed the MSCI Quarterly Property Index and aims to maintain its position as a top-performing diversified UK REIT.
