Industrials REIT Ltd - real estate investment trust investing in UK multi-let industrial properties - Says Lonat Ltd sells 3.0 million shares in the company at a price of GBP1.75 per share. Says the net proceeds of GBP5.2 million will be used to pay down part of its GBP6.5 million loans. The loans are owed to its subsidiary Stenprop Industrials Holdings Ltd.
They were secured against 5.4 million shares and are due for repayment between 2025 and 2027. Says Lonat committed to fully repaying the remaining loans through the cash transfer of an additional GBP1.3 million within the next seven working days.
London current stock price: 177.50 pence, down 1.1% on Friday
12-month change: up 2.9%
Johannesburg current stock price: ZAR35.00, down 2.8% on Friday
12-month change: up 1.5%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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