Last checked at 5 Sep 2013 12:30
5 September 2013
PICTON PROPERTY INCOME LIMITED
("Picton" or the "Company")
ISSUE OF EQUITY
The Company announces that it has today issued 12,305,185 new ordinary shares for cash at a price of 51.5 pence per share, conditional on admission to listing. This price represents a premium to the Company's net asset value per share. The Company expects to use these proceeds to finance property investment opportunities currently under consideration. The new ordinary shares will rank pari passu with the existing ordinary shares and dealings are expected to commence on 10 September 2013.
The Company confirms that applications for the admission of 12,305,185 new ordinary shares to the Official List of the UK Listing Authority and for admission to trading on the Main Market of the London Stock Exchange have been made.
As at 5 September 2013, following this issue of shares, the number of ordinary shares that the Company has in issue is 357,641,303. The total number of voting rights of the Company is 357,641,303 and 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 Company, under the Disclosure and Transparency Rules.
For further information:
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Rachael Falla
Tel: 01481 745823
Fax: 01481 745051
Notes to Editors
Picton Property Income Limited ('Picton') is an income focused, property investment company listed on the London and Channel Islands Stock Exchanges. It was established in 2005 to invest both directly and indirectly in commercial property across the United Kingdom. With Net Assets of £169.6 million at 30 June 2013 and approximately 860 investors, the Company's objective is to provide shareholders with an attractive level of income, together with the potential for capital growth by investing in the principal commercial property sectors. www.pictonproperty.co.uk