Results of Placing and Open Offer (6016K)

TIDMSLI

RNS Number : 6016K

Standard Life Invs Property Inc Tst

18 July 2011

STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED

RESULTS OF PLACING AND OPEN OFFER

On 31 May 2011 the Board of Standard Life Investments Property Income Trust Limited (the "Company") announced details of a share issue to raise gross proceeds of up to a maximum of GBP25 million through a placing and open offer at an issue price representing a four per cent. premium to the adjusted NAV per share as at 30 June 2011 (the "Issue"). This exercise was being conducted in conjunction with the conversion of the Company's six million redeemable preference shares into new ordinary shares which was approved at a general meeting of the Company on 29 June 2011.

The Issue closed for acceptances at 11.00 a.m. on 14 July 2011 and the Company is pleased to announce that as a result of the Issue the Company has raised gross proceeds of approximately GBP4.2 million and shall issue 6,507,167 new Ordinary Shares in connection with the Issue. All eligible applications received from Qualifying Shareholders under the Open Offer will be allocated their pre-emption entitlements and all eligible applications under the Excess Application Facility will be allocated the number of new Ordinary Shares sought.

Application has been made to the UK Listing Authority for the new Ordinary Shares to be admitted to the premium segment of the Official List and to the London Stock Exchange for the new Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities. It is expected that Admission will become effective on 22 July 2011 and that dealings in the new Ordinary Shares will commence at 8.00 a.m. on 22 July 2011.

The new Ordinary Shares, when issued and fully paid will rank equally in all respects with the existing Ordinary Shares except that they will not be entitled to the Second Interim Dividend in respect of the quarter to 30 June 2011 payable in August 2011.

This announcement should be read in conjunction with the full text of the Prospectus. A copy of the Prospectus is available at the UK Listing Authority's National Storage Mechanism www.hemscott.com/nsm.do.

Defined terms in this announcement shall have the same meaning as those terms defined and used in the prospectus published by the Company on 6 June 2011.

For further information please contact:

James Moseley/Graeme Caton, Winterflood Securities Limited

Tel: 020 3100 0268

Jason Baggaley, Standard Life Investments (Corporate Funds) Limited

Tel: 0131 245 2833

Gordon Humphries, Standard Life Investments (Corporate Funds) Limited

Tel: 0131 245 2735

This information is provided by RNS

The company news service from the London Stock Exchange

END

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