Stoneweg European REIT starts unit buyback programme

The buyback serves as a flexible, cost-effective capital management tool to enhance returns on equity and NAV per unit.

The manager of Stoneweg European Real Estate Investment Trust (SERT) announced in a bourse filing that it has commenced a unit buyback funded by recent asset sales.

The unit buyback mandate was approved by unitholders. As stated in the unitholder letter dated 11 April 2024, which accompanied Ordinary Resolution 4 on the annual renewal of the unit buyback mandate, the buyback serves as a flexible, cost-effective capital management tool to enhance returns on equity and/or NAV per unit.

To date, a cumulative total of 50,000 shares have been purchased, representing approximately 0.0089%.

Following this purchase, the number of issued shares, excluding Treasury shares, stands at 562.3 million.

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