15 Oct 2015 07:00
REDEFINE INTERNATIONAL P.L.C.
("Redefine International" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
REDEFINE INTERNATIONAL ACQUIRES SHARES IN INTERNATIONAL HOTEL GROUP LIMITED
Redefine International, the FTSE 250 income focused UK Real Estate Investment Trust ("UK-REIT"), announces that it is has acquired a 25.35% shareholding in the International Hotel Group Limited ("IHGL") for c. £3.8million.
IHGL is a hotel and leisure focused property investment company which owns three hotels in the UK and is listed on the Euro MTF Market of the LuxSE and the AltX of the JSE (JSE share code: IHL).
Commenting, CEO Mike Watters said:
"This investment in IHGL is part of our overall hotel investment strategy, which includes our 25% holding in the Redefine BDL Hotel Group, the UK's leading independent hotel management company.
"We expect IHGL to grow into a significant hotel investment vehicle over the medium term and look forward to superior risk adjusted returns being achieved by its highly rated management team."
For further information:
Redefine International P.L.C. |
|
Michael Watters, Stephen Oakenfull
| Tel: +44 (0) 20 7811 0100 |
FTI Consulting UK Public Relations Adviser | |
Dido Laurimore, Claire Turvey, Ellie Sweeney
FTI Consulting SA Public Relations Adviser Max Gebhardt
| Tel: +44 (0) 20 3727 1000
Tel: +27 (0) 11 214 2402 |
JSE Sponsor Java Capital
|
Tel: +27 (0) 11 722 3050
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Notes to editors:
Redefine International (RDI) is a FTSE 250 income focused UK-REIT with a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.
The Group's investment portfolio is diversified across the retail, commercial and hotel sectors and in the UK and Germany with an aggregate value in excess of £1.3 billion.
Redefine International is focused on delivering sustainable and growing income to shareholders through investment in income yielding assets let to high quality occupiers on long leases. Capital values are enhanced and protected by asset management and other low capex development activities.
As a UK-REIT, the Group aims to distribute the majority of its earnings available for distribution on a semi-annual basis, providing investors with attractive income returns as well as exposure to capital growth opportunities.
www.redefineinternational.com