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Further Return of Cash

22 Sep 2016 07:00

RNS Number : 4925K
LXB Retail Properties Plc
22 September 2016
 

For immediate release

22 September 2016

 

LXB Retail Properties Plc

(the "Company" or the "Group")

 

Further Return of Cash

 

LXB Retail Properties Plc, the Jersey resident closed-ended real estate investment company focused on edge of town and out of town retail investments, today announces proposals for a £30.3m Return of Cash (18p per share). The announcement explaining the procedure and timetable for the Return of Cash will be posted on the Company's website (www.lxbproperties.com) later today, as will a copy of the Return of Cash letter and associated documents (which will be posted to shareholders today).

 

This Return of Cash is enabled by receipts from previously announced transactions concerning the Group's Ayr, Kingsmead Stafford and B&Q Greenwich investments and follows previous returns of cash of £64.0m earlier on this year in June and £82.6m in June 2015. Together with the current proposal, this means the Company will have returned virtually the whole of the capital raised by its IPO and subsequent share issues (net of issue costs and shares bought back for cancellation). The net equity raised was equivalent to 101.3p per share in issue and the aggregate capital returns (including the proposed return of cash) amount to 101.0p per share.

 

Commenting on this proposal, Tim Walton, CEO of LXB Adviser LLP, said;

 

"These latest realisations demonstrate that we are making good progress with implementation of the revised mandate given to us by the Board following the AGM six months ago. Given the turbulence in the wider market I am pleased with what has been achieved, but much remains to be done. We are currently undertaking a number of initiatives to complete the task of achieving an orderly run off of the investment portfolio in a way that offers best value to shareholders. I would hope that the Company will be able to update the market on further progress in the near future."

 

For further information please contact:

 

LXB Adviser LLP Tel: 020 7432 7900

Tim Walton, CEO

Brendan O'Grady, FD

 

J.P. Morgan Cazenove (NOMAD) Tel: 020 7742 4000

Bronson Albery / Paul Hewlett

 

Buchanan Tel: 020 7466 5000

Charles Ryland / Vicky Hayns / Patrick Hanrahan

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCAKDDKABKDPCB
Date   Source Headline
23rd May 20197:30 amRNSSuspension - LXB Retail Properties Plc
21st May 20191:45 pmRNSDissolution Order & Dissolution Return of Capital
20th May 20195:30 pmRNSLXB Retail Properties
20th May 20194:40 pmRNSSecond Price Monitoring Extn
20th May 20194:35 pmRNSPrice Monitoring Extension
20th May 201912:07 pmRNSSecond Price Monitoring Extn
20th May 201912:02 pmRNSPrice Monitoring Extension
20th May 20197:00 amRNSTransfers and sales of remaining subsidiaries
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16th May 20194:35 pmRNSPrice Monitoring Extension
10th May 20194:40 pmRNSSecond Price Monitoring Extn
10th May 20194:35 pmRNSPrice Monitoring Extension
30th Apr 20192:15 pmRNSDissolution Return of Capital update
30th Apr 201912:07 pmRNSSecond Price Monitoring Extn
30th Apr 201912:02 pmRNSPrice Monitoring Extension
29th Apr 20194:36 pmRNSPrice Monitoring Extension
23rd Apr 20194:36 pmRNSPrice Monitoring Extension
18th Apr 20194:00 pmRNSCourt Dissolution Hearing and NAV update
27th Mar 20197:00 amRNSResults of Meetings
21st Mar 20194:40 pmRNSSecond Price Monitoring Extn
21st Mar 20194:35 pmRNSPrice Monitoring Extension
4th Mar 20197:00 amRNSProposed Company Dissolution
26th Feb 20197:00 amRNSFull Year Results
20th Feb 20195:40 pmRNSReturn of Cash Announcement
19th Feb 20194:45 pmRNSFurther Return of Cash
3rd Jan 20194:35 pmRNSPrice Monitoring Extension
21st Dec 20183:30 pmRNSDisposal of Investment at Sutton
20th Dec 20185:30 pmRNSReturn of Cash Announcement
13th Dec 20187:00 amRNSPortfolio, NAV and Proposed Return of Cash Update
5th Oct 20184:30 pmRNSUpdate on Biggleswade
7th Sep 20182:30 pmRNSDisposal of Leisure Investment at Stafford
29th Aug 20185:45 pmRNSNOTIFICATION OF MAJOR HOLDINGS
17th Aug 20187:00 amRNSReturn of Cash Announcement
14th Aug 20183:30 pmRNSFurther Return of Cash
7th Aug 201810:15 amRNSUpdate on Rushden Lakes
18th Jul 20182:30 pmRNSUpdate on Disposal of Investments
4th Jul 20182:00 pmRNSPDMR Notification
3rd Jul 20185:00 pmRNSReturn of Cash Announcement
3rd Jul 20185:00 pmRNSPublication of Interim Report and Accounts
29th Jun 20187:00 amRNSInterim Results
11th Jun 20181:45 pmRNSUpdate on Return of Cash
26th Mar 20189:00 amRNSPortfolio update
16th Mar 20182:00 pmRNSCourt sanction of scheme of arrangement
27th Feb 20184:00 pmRNSResult of Annual General Meeting
27th Feb 20184:00 pmRNSResult of Court Meeting
19th Feb 201812:30 pmRNSNOTIFICATION OF MAJOR HOLDINGS
7th Feb 201810:00 amRNSClarification of blue proxy return date
5th Feb 201811:00 amRNSNotification of Major Holdings
5th Feb 20187:00 amRNSCourt Scheme, Returns of Cash & AGM
22nd Dec 20177:00 amRNSDisposals at Stafford & further lettings

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