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Issue of Shares

23 Dec 2015 15:16

RNS Number : 0870K
Secure Income REIT PLC
23 December 2015
 

23 December 2015

 

Secure Income REIT Plc (the "Company")

 

Issue of Shares in connection with pre-existing arrangements

 

The Company announces that, pursuant to the Commitment Agreement as disclosed in the Company's Admission Document dated 30 May 2014 (the "Admission Document"), the seventh tranche of six new ordinary shares of 10 pence each (a "Share") has been subscribed for by certain of its investors (the "Existing Investors") in respect of the advisory fee payable by the Company to Prestbury Investments LLP ("Prestbury") for the quarter ending 31 December 2015. The total subscription price payable by the Existing Investors for the shares to be issued to them is £1,321,244 which represents the maximum quarterly amount payable under the terms of the Commitment Agreement.

 

This seventh tranche of six Shares to be issued under this arrangement will be allotted on 31 December 2015 and issued pursuant to the Company's block listing authority.

 

The details of the subscriptions are as follows:

 

 

 

 

Existing Investor

Subscription price per new Share

(£)

Post subscription shareholding

(shares)

Post subscription shareholding

(%)

Bluetouch Investments (Malta) Limited

88,083

10,654,878

5.9%

Brookstone Limited

88,083

10,654,878

5.9%

PIHL Property LLP

352,332

42,619,491

23.6%

Prestonfield P3 Limited

352,332

14,206,497

7.9%

West Coast Capital Investments Limited

352,331

14,206,497

7.9%

Dominic Silvester

88,083

10,654,878

5.9%

 

PIHL Property LLP is connected with Nick Leslau, a Director of the Company, in accordance with section 252 of the Companies Act 2006 (the "Act"). In addition Nick Leslau is connected to the Saper Trust, in accordance with section 252 of the Act, which holds 57,471 Shares, and is also a member of Prestbury Investments LLP which holds 11,900,432 Shares in the Company through its wholly owned subsidiary, Prestbury Incentives Limited. PIHL Property LLP, the Saper Trust and Prestbury Incentives Limited are members of the Prestbury Concert Party (as defined in the Admission Document). Following the issue of the seventh tranche of Shares pursuant to the Commitment Agreement: (i) the Prestbury Concert Party, has a beneficial holding of 55,355,205 Shares, representing 30.7% of the Company's voting rights; and (ii) the Concert Party (as defined in the Admission Document), which includes the Prestbury Concert Party, holds 66,010,083 Shares, representing 36.6% of the voting rights in the Company.

 

Following the allotment of the Shares, and in accordance with the Disclosure and Transparency Rules, the Company's issued voting ordinary share capital will comprise 180,344,228 Shares, an increase of six Shares. There are no Shares held in treasury. The above 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 in their interest in, the ordinary share capital of the Company under the Disclosure and Transparency Rules.

 

Enquiries:

 

Secure Income REIT Plc

+44 20 7647 7647

Sandy Gumm

Stifel Nicolaus Europe Limited (Nominated Adviser)

+44 20 7710 7720

David Arch

Tom Yeadon

FTI Consulting

+44 20 3727 1000

Richard Sunderland

Claire Turvey

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCFEDFIDFISEFE
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