Non Mainstream Pooled Investments

The Board notes the proposed changes to the FCA rules relating to the restrictions on the retail distribution of unregulated collective investment schemes and close substitutes which will come into effect on 1 January 2014.
 
Having taken legal advice, this confirms that the Company's shares will qualify as an ‘excluded security’ under these new rules and will therefore be excluded from the FCA's restrictions which apply to non-mainstream investment products.

UK Commercial Property Trust Limited (the “Company”) currently conducts its affairs so that the shares issued by the Company can be recommended by IFAs to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future.  The shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products because the company would qualify as an investment trust if the Company was based in the UK.