Decorative pattern

Combined circular and prospectus published for the £1.9 billion recommended all-share merger of LondonMetric Property and LXi REIT

February 2024


LondonMetric is a FTSE 250 listed REIT that owns one of the UK’s leading listed logistics platforms alongside a grocery-led long income portfolio. It owns £3bn of assets across 17m square feet generating £159m per annum of contracted rental income. It has a highly focused team of 35 employees with strong occupier and property relationships.

LXi REIT is a specialist inflation-protected long income real estate investment trust, providing shareholders with regular, attractive income, with the potential to sustainably grow the dividend in absolute terms through upward-only inflation-protected very long-term leases, together with capital growth.

The Company is a constituent of the FTSE 250, EPRA/NAREIT and MSCI indices.

On 11th January 2024, the boards of directors of LondonMetric and LXi announced that they had reached agreement on the terms of a recommended all-share merger pursuant to which LondonMetric will acquire the entire issued and to be issued ordinary share capital of LXi to be effected by means of a scheme of arrangement under Part 26 of the Companies Act creating an enlarged UK REIT with a combined £6.2 billion portfolio.


Publication of combined circular and prospectus

The Perivan shareholder communications team was delighted to work with CMS Cameron McKenna Nabarro Olswang who acted as legal adviser to LondonMetric on the production of the 539-page combined circular and prospectus which included the proposed issue and admission of up to 942,960,279 new ordinary shares in connection with the merger and the associated ancillary documents which were successfully published and posted to qualifying LondonMetric shareholders on 6th February 2024.

For further information, click here.


Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies and are a market leader for the production of documentation relating to Mergers & Acquisitions.

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Decorative pattern