9 Aug 2016 14:13
DRUM INCOME PLUS REIT PLC
To: RNS
From: Drum Income Plus REIT PLC (the "Company")
Date: 9 August 2016
Following the announcement of the results of Company's general meeting held yesterday, the condition to the contract entered into between the Company and Drum Commercial Asset Investments Limited in relation to the acquisition, by the Group, of the property situated at Burnside Industrial Estate, Dyce, Aberdeen (the "Burnside Property") that the Company's shareholders approve the acquisition of the Burnside Property has been satisfied. The Group will now proceed to complete this acquisition in consideration for a mixture of cash and shares in the Company.
The Company's brokers and its investment manager continue to be actively engaged in the long-term marketing of the Company and the Company continues to seek to issue new shares when demand can be found from existing and new investors. The Company is currently considering a small share issue to respond to investor demand. The Board is therefore, proposing to postpone the completion of the Burnside Property until 18 August 2016 and combine the issue of new shares in relation to the completion with the issue of new shares to new and/or existing investors. The price at which the new shares will be issued will be 100 pence per share.
Applications will be made for new shares which are to be issued by the Company in relation to the completion of the Burnside Acquisition and to new investors to satisfy any potential demand
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"). The result of any placing of new shares to new and/or existing investors in addition to the shares being issued in relation to the completion of the Burnside Property will be announced immediately prior to Admission. Admission is expected to become effective and dealings in the new shares are expected to commence at 8 a.m. on 19 August 2016.
Enquiries
Drum Real Estate Investment Management (Investment Manager)
Bryan Sherriff 0131 285 0050
Drum Income Plus REIT Plc
Martin Cassels, Company Secretary 0131 550 3760
Weber Shandwick (Financial PR)
Richard Bright 0131 556 6649
Nick Oborne 020 7067 0721