LONDON (Alliance News) - PRS REIT PLC on Wednesday said it has issued shares under a development management agreement with Sigma PRS Management Ltd, a subsidiary of residential property specialist Sigma Capital Group PLC.
Under the deal, Sigma PRS bi-annually subscribes for shares equating to 50% of the management fee in respect of each PRS REIT site.
PRS REIT said it issued 929,276 shares at a price of 104.5 pence each, totalling GBP971,093. The stock was trading 0.1% higher on Wednesday at 104.64p per share.
Following this transaction, Sigma PRS holds a total of 1.4 million shares in PRS REIT, representing a 0.3% holding.
Sigma Capital shares were untraded, last quoted at 140p.
This subscription covers the six-months period to the end of June.
