NewRiver Retail Limited Conversion of Loan Stock (6573R)

TIDMNRR

RNS Number : 6573R

NewRiver Retail Limited

30 June 2015

NewRiver Retail Limited

("NewRiver" or the "Company")

Conversion of Loan Stock

The Company has received notices to convert GBP6,500,000 of its 5.85 per cent. B Convertible Loan Stock 2015 ("B CULS") into ordinary shares of no par value ("Ordinary Shares") from State Street Nominees Limited and Harewood Nominees Limited. At a conversion price of 245 pence per Ordinary Share this will result in the issue of 2,653,061 Ordinary Shares. Accordingly, the Company has applied to the London Stock Exchange for the 2,653,061 Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00am on 2 July 2015. The Ordinary Shares will rank pari passu with the existing ordinary shares in the capital of the Company then in issue.

Following the conversion, the Company's issued share capital will be 130,227,456 ordinary shares of no par value. The Company holds 479,345 ordinary shares of no par value in the Company's Employee Benefit Trust ("EBT"). As the EBT is consolidated, these shares are treated as treasury shares.

The total number of voting rights in the Company is therefore 129,748,111. This 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 to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

Following the conversion, there will be no B CULS outstanding.

-ends-

 
 NewRiver Retail Limited       Tel: 020 3328 5800 
  David Lockhart, Chief 
  Executive 
  Mark Davies, Finance 
  Director 
 Bell Pottinger                Tel: 020 3772 2500 
  David Rydell / James 
  Newman / David Bass 
 Liberum                       Tel: 020 3100 2000 
  Richard Crawley / Jamie 
  Richards 
 Peel Hunt LLP                 Tel: 020 7418 8900 
  Capel Irwin / Alex Vaughan 
  / Hugh Preston

About NewRiver

NewRiver Retail Limited is an AIM listed REIT. The Company is a specialist real estate investor and asset manager focused solely on UK retail with a particular focus on food and value retailing. NewRiver Retail was named Property Company of the Year - Retail & Leisure at the Estates Gazette Awards at the close of 2014.

The management team, with over 100 years combined experience in the UK commercial property market, actively engages with retailers, stakeholders and consumers. NewRiver Retail is one of the UK's largest shopping centre owner/managers with assets under management of GBP848 million principally comprising 29 UK wide shopping centres, further nationwide retail assets and a portfolio of 202 public houses principally suitable for conversion to alternative uses. The portfolio has 1,377 occupiers, a total of over 5.5 million sq ft, total annual footfall of over 121 million and a retail occupancy rate of 96 per cent.

The Company's activities include active and entrepreneurial asset management and risk-controlled development, utilising both its own balance sheet and co-investment joint venture structures.

Founded in 2009, NewRiver has become the UK's leading retail-focused property investment business. The Company's shares were admitted to London's AIM in September of the same year. For more information on NewRiver, please visit www.nrr.co.uk .

This information is provided by RNS

The company news service from the London Stock Exchange

END

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