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21 Oct 2016 15:52
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THE INFORMATION IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, ANY EEA STATE (OTHER THAN THE UK) OR ANY OTHER EXCLUDED TERRITORY.
21 October 2016
CUSTODIAN REIT PLC
("Custodian REIT" or "the Company")
Result of Placing
Following the announcement of a proposed issue of equity on 30 September 2016, the Board is pleased to announce the placing has closed, raising £25.0 million (before costs and expenses) through the issue of 24,131,274 new ordinary shares of 1p each in the capital of the Company at a price of 103.6 pence per share ("the New Shares") under the placing ("the Issue"). The placing price represents a premium of approximately 3.5% to the unaudited NAV as at 30 September 2016 as adjusted to deduct the dividend of 1.5875 pence per share payable to shareholders on the register at the close of business on 14 October 2016.
As part of the Issue, Barry Gilbertson (Senior Independent Director) has acquired 10,000 shares at the placing price of 103.6 pence per share. The Directors of the Company confirm that they are satisfied that all inside information, which the Directors and the Company have leading up to the announcement of the Company's interim results for the six months ended 30 September 2016, has been notified to a Regulatory Information Service.
Applications will be made for 24,131,274 New Shares to be admitted to the premium segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange plc's main market for listed securities. Admission is expected to become effective, and dealings in the New Shares to commence, at 8 a.m. on 26 October 2016.
Following this issue, the Company's issued share capital will comprise 316,263,345 ordinary shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Unless otherwise defined, capitalised words and phrases in this Announcement shall have the meaning given to them in the Company's November 2015 prospectus.
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For further information, please contact:
Custodian Capital Limited | |
Richard Shepherd-Cross / Nathan Imlach / Ian Mattioli | Tel: +44 (0)116 240 8740 |
www.custodiancapital.com |
Numis Securities Limited | |
Hugh Jonathan / Nathan Brown | Tel: +44 (0)20 7260 1000 |
www.numiscorp.com |
Camarco | |
Ed Gascoigne-Pees | Tel: +44 (0)20 3757 4984 |
www.camarco.co.uk |
Notes to Editors
Custodian REIT plc is a UK real estate investment trust, which listed on the main market of the London Stock Exchange on 26 March 2014. Its portfolio comprises properties predominantly let to institutional grade tenants on long leases throughout the UK and is characterised by small lot sizes, with individual property values of less than £10 million at acquisition.
The Company offers investors the opportunity to access a diversified portfolio of UK commercial real estate through a closed-ended fund. By targeting smaller lot size properties, the Company intends to provide investors with an attractive level of income with the potential for capital growth.
Custodian Capital Limited is the discretionary investment manager of the Company.
For more information visit www.custodianreit.com and www.custodiancapital.com.