IMPT.L Regulatory News (IMPT)

23 Nov 2005 14:57

Close High Income Properties PLC23 November 2005 Close High Income Properties PLC23 November 2005 23 November 2005 Announcement Proposed Offer for Subscription of 'D' Shares and other Arrangements Close High Income Properties PLC ("the Company") announces a number of proposednew initiatives as follows: (i) an offer for subscription of 'D' Shares to raise up to £40million in aggregate, before expenses, and consequential changes to the existingarticles of association and property investment advisory agreement (includingfee rebate arrangements); and (ii) the cancellation of the share premium account which will becreated upon the issue of the 'D' Shares. Cancellation of the new share premiumaccount created by the issue of the 'D' Shares will facilitate the Company'sability to purchase its shares in the future and to distribute capital profitsby way of dividend. A Circular providing, inter alia, further details of the above has beensubmitted to the UK Listing Authority for approval and is expected to be postedto Shareholders shortly. The Circular will contain notices convening anExtraordinary General Meeting of the Company and Separate Class Meetings of boththe Ordinary Shares and 'C' Shares. The meetings will be held from 9.30am on 16December 2005, at which Shareholder approval will be sought for certain of theproposals set out in the Circular. The Circular does not constitute an offer forsubscription for the 'D' Shares. Such an offer will be made by the issue of aprospectus which is expected to be available in December 2005. Copies of the Circular will be available shortly for inspection at the DocumentViewing Facility of the UK Listing Authority which is situated at the FinancialServices Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS.Copies will also be available by contacting: Peter Roscrow / Anthony BuckleyClose Brothers Investment LimitedTel: 020 7426 4000 This information is provided by RNS The company news service from the London Stock Exchange