IN BRIEF: Picton Property takeover clears court and general meetings

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Picton Property Income Ltd - Guernsey-registered real estate investment trust - The requisite majority of shareholders vote in favour of the scheme for Picton's acquisition by LondonMetric Property PLC and Schroder Real Estate Investment Trust Ltd at the court meeting and general meeting. Picton says shares will be suspended from trading on the Main Market on September 10, when it expects the scheme to become effective. Picton agreed to the recommended all-share takeover by the LondonMetric and SREIT consortium on July 31. Based on its closing price the day before, the offer valued Picton at 78.7 pence per share, or around £404 million.

Current Picton stock price: 70.00p, up 1.5% on Wednesday in London

12-month change: down 1.8%

Current LondonMetric stock price: 182.20p

12-month change: up 2.7%

Current Schroder Real Estate stock price: 41.90p

12-month change: down 12%

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