LONDON (Alliance News) - Terrace Hill Group PLC Wednesday said Finance Director Jon Austen exercised options over 594,059 shares following a share plan vesting Tuesday.
Following this transaction, Austen now holds an interest in 1 million shares, which represents 0.49% stake in the firm.
On Monday, Terrace Hill said it will acquire unlisted property group Urban&Civic in a reverse takeover and be renamed Urban&Civic PLC. The new group also plans to raise GBP170 million through a placing of 75.6 million shares priced at 225 pence per share to fund further developments. The placing shares are consolidated shares that will be created from 10-for-1 share consolidation.
The property investor's unconsolidated shares were up 1.5% at 25.64 pence Wednesday midday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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