Issue of Equity

31 May 2005 07:00

Real Estate Investors PLC31 May 2005 Issue of Equity Real Estate Investors PLC ("REI" or "the Company") announced that on 18 February2005, it entered into a conditional agreement to purchase five freehold,commercial properties for a total consideration of £3,499,320. The agreementprovides for the consideration to be paid as to £3,284,388 in cash and thebalance by the issue to the vendors of 1,999,367 new 1p ordinary shares in theCompany, at 10.75p per share. Following completion of the acquisition on 27 May 2005, the Company announcesthe issue on that date of 1,999,400 new ordinary shares in REI at a price of10.75 per share to the vendors as part of the consideration. As a result, KBRProperty Investments Limited will have a beneficial interest in 1,255,000ordinary shares representing 3.03% of the issued share capital of the Company. Application has been made for the 1,999,400 ordinary shares (which will rankpari passu with the Company's existing issued ordinary share capital) to beadmitted to trading on AIM and this is expected to take place on 6 June 2005. 31 May 2005 This information is provided by RNS The company news service from the London Stock Exchange