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17 May 2016 16:54
SCHRODER GLOBAL REAL ESTATE SECURITIES LIMITED - Correction and Finalisation of Rollover PoolsSCHRODER GLOBAL REAL ESTATE SECURITIES LIMITED - Correction and Finalisation of Rollover Pools
PR Newswire
London, May 17
ANNOUNCEMENT
17 May 2016
SCHRODER GLOBAL REAL ESTATE SECURITIES LIMITED (IN VOLUNTARY WINDING UP)
CORRECTION AND FINALISATION OF ROLLOVER POOLS
As announced on 11 May 2016, the resolutions put forward at the Second General Meeting of the Company which took place on 10 May 2016 were approved by Shareholders and Patrick Joseph Brazzill and Stuart Gardner of Ernst & Young LLP, Royal Chambers, St Julian’s Avenue, St. Peter Port, Guernsey, GY1 4AF were appointed liquidators of the Company. The Residual Net Asset Value per Share (being the net asset value per Share minus the Retention and after providing for the liabilities to be discharged out of the Voluntary Winding Up Pool) as at the close of business on 10 May 2016 and announced on 11 May 2016 has subsequently been found to have been overstated by the Administrator. The Residual Net Asset Value per Share has been re-calculated as at the close of business on 10 May 2016 at 140.60 pence.
In accordance with the Scheme, the assets comprising the Rollover Pools were revalued, in the case of:
the SUTL GPS Rollover Pool by the SUTL Custodian as at 12.00 noon on 11 May 2016 at 140.38p per Share. The issue price for the SUTL GPS Units is 63.24p and Shareholders who have elected or deemed to have elected to receive SUTL GPS Units will therefore receive 2.2197 SUTL GPS Units for every Share held; the SISF GPS Rollover Pool by the SISF Custodian with a spot exchange rate of 0.692929 as at 3.00 p.m. on 11 May 2016 at 140.80p per Share. The issue price for the SISF GPS Shares is US$141.4731 (equivalent to £98.0308) and Shareholders who have elected to receive SISF GPS Shares will therefore receive 0.01436 SISF GPS Shares for every Share held; the Cash Pool has been valued at 140.60 pence per Share.Contract notes in respect of Rollover Shares issued under the Scheme have been or will be despatched as soon as practicable. Cheques are expected to be despatched and CREST payments made to Shareholders in respect of cash elections as soon as practicable.
Defined terms used in this announcement have the meanings given in the circular published by the Company on 3 March 2016 unless the context otherwise requires.
Enquiries:Neil TurnerSchroder Real Estate Investment Management LimitedTel : +44 (0) 207 658 3017 or +44 (0) 207 658 3780Franczeska HanfordNorthern Trust International Fund Administration Services (Guernsey) LimitedTel: +44 (0) 1481 745918Paul Fincham or Jonathan BecherPanmure GordonTel : +44 (0) 207 886 2500END
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