REI Regulatory News (RLE)

2 Aug 2005 14:35

Real Estate Investors PLC02 August 2005 Issue of Equity Real Estate Investors PLC ("REI" or "the Company") announced on 31 May 2005, thecompletion of the acquisition of five freehold, commercial properties for atotal consideration of £3,499,320 on 27 May 2005. The agreement provided for theconsideration to be paid as to £3,284,388 in cash and the balance was satisfiedby the issue to the vendors of 1,999,400 new ordinary shares in REI at a priceof 10.75p per share. Following the completion of an outstanding rent review in respect of 19/21Kirkgate Wakefield, in accordance with the sale and purchase agreement, furtherconsideration of £247,350 is due. This has been satisfied through cash and theissue of 230,093 ordinary shares at a price of 10.75p per share on 1 August2005. Application has been made for the 230,093 ordinary shares (which will rank paripassu with the Company's existing issued ordinary share capital) to be admittedto trading on AIM and this is expected to take place on 8 August 2005. 2 August 2005 This information is provided by RNS The company news service from the London Stock Exchange