Eurocastle Investment Limited : Eurocastle Announces Exercise of Options by its Manager
August 14 2017 - 11:54AM
EUROCASTLE INVESTMENT
LIMITED
FOR IMMEDIATE RELEASE
Contact:
International Administration Group (Guernsey) Limited
Company Administrator
Attn: Mark Woodall
Tel: +44 1481
723450
Eurocastle
Announces Exercise of Options by its Manager
Guernsey, 14 August 2017 -
Eurocastle Investment Limited ("Eurocastle" or "Company") today
announces that its manager, FIG LLC, has exercised all 5.5 million
options it held in Eurocastle. The options were exercised on a net
settlement basis, based on the closing price of €9.40 per share as
at 10 August 2017, resulting in the Manager receiving 998,751
ordinary shares; no cash proceeds were received by the Company. The
Company has transferred 998,751 treasury shares (held by the
Company due to a previously accretive share buy-back) to FIG LLC to
satisfy the option exercise. Accordingly, the Company's issued
share capital now consists of 61,112,164 ordinary shares with
voting rights.
Pro forma for the new issued share
capital, the Company's NAV of €10.49 per share as at 30 June 2017
would change to €10.32 per share. There is no impact to the second
quarter dividend declared on 4 August 2017 of €0.41 per share with
the amount payable of €25.1 million remaining within the
distributable NFFO realized in cash for the period.
ABOUT
EUROCASTLE
Eurocastle Investment Limited is a
publicly traded closed-ended investment company that focuses on
investing in performing and non-performing loans and other real
estate related assets primarily in Italy. The Company is Euro
denominated and is listed on Euronext Amsterdam under the symbol
"ECT". Eurocastle is managed by an affiliate of Fortress Investment
Group LLC, a leading global investment manager. For more
information regarding Eurocastle Investment Limited and to be added
to our email distribution list, please visit
www.eurocastleinv.com.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Eurocastle Investment Limited via
Globenewswire
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