Last checked at 22 Jun 2009 07:00
22 June 2009
CAPITAL & REGIONAL PLC
X-LEISURE FUND - EQUITY ISSUE
Capital & Regional Plc, the co-investing property asset manager, announces that the X-Leisure Fund (in which it currently owns a 19.4% stake and is the property asset manager) has secured unit holder support for the Open Offer announced on 26 May 2009, all resolutions having been passed. Investor interest has been strong. Subscriptions have been received from a wide spread of existing as well as new investors. The Open Offer is consequently expected to be fully subscribed at £50 million.
Completion of the Open Offer, which is expected to take place at the end of July, remains subject to certain conditions including the negotiation of revised banking covenants with the Fund's syndicate of banks. These negotiations are well progressed.
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For further information:
Capital & Regional
Charles Staveley, Finance Director Tel: 020 7932 8910
Maitland
Martin Leeburn / Emma Burdett Tel: 020 7379 5151