Ediston Property Inv Comp PLC Results of Share Issue (6050Y)
December 06 2017 - 10:56AM
UK Regulatory
TIDMEPIC
RNS Number : 6050Y
Ediston Property Inv Comp PLC
06 December 2017
6 December 2017
EDISTON PROPERTY INVESTMENT COMPANY PLC (the
"Company")
RESULTS OF SHARE ISSUE
Further to its announcement of 20 November,
the Board of Ediston Property Investment Company
PLC is very pleased to announce that the Company
will be issuing new equity with a value of approximately
GBP88.7 million, including GBP52.2 million in
aggregate pursuant to its Share Issue, which
is in excess of the minimum issue proceeds required
to proceed with the acquisition of the new portfolio
of four retail warehouse parks (the "Acquisition")
from the Stadium Group. Accordingly, completion
of the Acquisition is subject only to shareholder
approval at the General Meeting of the Company
which is being held at 9.30 a.m. tomorrow, after
which another announcement will be made, and
the admission of the New Shares to listing on
8 December 2017.
The Board intends to allot and issue, subject
to the relevant resolutions being passed at
the Company's General Meeting tomorrow and Initial
Admission, 79,339,806 New Shares at the issue
price of 111.75p per share. 25,983,235 New Shares
will be issued pursuant to the Open Offer, 20,060,289
New Shares will be issued pursuant to the Initial
Placing, 634,090 New Shares will be issued pursuant
to the Offer for Subscription, including the
Intermediaries Offer, and 32,662,192 New Shares
will be issued to the Stadium Group.
Application has been made for the New Shares
to be issued pursuant to the Share Issue and
to the Stadium Group to be admitted to trading
on the Main Market of the London Stock Exchange
plc and to listing on the premium segment of
the Official List of the UK Listing Authority,
in each case with effect from 8.00 a.m. on 8
December 2017.
The Board is pleased with the results of the
Share Issue and is confident that all remaining
conditions to the Acquisition will be satisfied
very shortly.
Indicative timetable
An indicative timetable of principal events
is as follows:
Event Indicative Timing
General Meeting 9.30 a.m. on 7 December
2017
Results of the General Meeting 7 December 2017
announced
Admission and dealings in 8 a.m. on 8 December
New Shares commence and 2017
completion of the Acquisition
Each of the times and dates in the above expected
timetable (other than in relation to the General
Meeting) may be extended or brought forward
without further notice. If any of the above
times and/or dated change, the revised time(s)
and/or date(s) will be notified to Shareholders
by an announcement through a Regulatory Information
Service provider.
Save as otherwise defined in this announcement
or where the context otherwise requires, terms
defined in the prospectus published by the Company
on 20 November 2017 shall bear the same meaning
in this announcement.
For further information please contact:
Ediston Properties Limited
Danny O'Neill
Calum Bruce 0131 225 5599
Canaccord Genuity Limited
Will Barnett
Robbie Robertson 020 7523 8000
Scott Harris UK Ltd
Jamie Blewitt 020 7653 0030
Notes:
The information contained within this announcement
is deemed by the Company to constitute inside
information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication
of this announcement via Regulatory Information
Service this information is now considered to
be in the public domain.
The information in this announcement is for
background purposes only and does not purport
to be full or complete. No reliance may be placed
for any purpose on the information contained
in this announcement or its accuracy or completeness.
The material set forth herein is for information
purposes only.
Canaccord Genuity Limited ("Canaccord") is authorised
and regulated in the United Kingdom by the Financial
Conduct Authority. Canaccord is acting exclusively
for the Company and for no-one else in relation
to the Share Issue and the placing programme
and will not regard any other person as its
client. Apart from the responsibilities and
liabilities, if any, which may be imposed on
Canaccord by the Financial Services and Markets
Act 2000 or the regulatory regime established
thereunder, Canaccord will not be responsible
to anyone other than the Company for providing
the protections afforded to its clients or for
advising any other person in relation to the
Share Issue, the placing programme, or any transaction
contemplated in or by the prospectus to be published
by the Company.
Dickson Minto W.S. is authorised and regulated
in the United Kingdom by the Financial Conduct
Authority. Dickson Minto W.S. is acting exclusively
for the Company and for no-one else in relation
to the share issue and the placing programme
and will not regard any other person as its
client. Apart from the responsibilities and
liabilities, if any, which may be imposed on
Dickson Minto W.S. by the Financial Services
and Markets Act 2000 or the regulatory regime
established thereunder, Dickson Minto W.S. will
not be responsible to anyone other than the
Company for providing the protections afforded
to its clients or for advising any other person
in relation to the share issue, the placing
programme, or any transaction contemplated in
or by the prospectus to be published by the
Company.
The information contained in this announcement
is given at the date of its publication (unless
otherwise marked) and is subject to updating,
revision and amendment from time to time.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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