Watkin Jones plc Issue of Shares (7119V)

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RNS Number : 7119V

Watkin Jones plc

20 April 2016

 
For immediate release  20 April 2016

Watkin Jones plc

Issue of Shares

Watkin Jones plc (AIM:WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector, announces that, further to the intention disclosed in the Company's AIM Admission Document dated 16 March 2016, it has issued 242,550 ordinary shares of 1p each in the capital of the Company ('Ordinary Shares') to the trustee of the Company's HMRC approved share incentive plan ('SIP'), at par, for the purpose of awarding free shares to eligible employees.

Application has been made for 242,550 Ordinary Shares to be admitted to trading on AIM and it is expected that admission will take place on or around 26 April 2016. Following Admission, the total number of Ordinary Shares in issue will be 255,268,875. There are no shares held in treasury.

The above figure (255,268,875) 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 Financial Conduct Authority's Disclosure and Transparency Rules.

For further information:

 
Watkin Jones plc 
Mark Watkin Jones, Chief                 Tel: +44 (0) 20 7466 
 Executive Officer                                       5000 
Philip Byrom, Chief Financial          www.watkinjonesplc.com 
 Officer 
 
Zeus Capital Limited 
 (Nominated Adviser & Joint 
 Broker) 
Corporate Finance 
Dan Bate / Nick Cowles                   Tel: +44 (0) 161 831 
 / Jamie Peel                                            1512 
Corporate Broking                        Tel: +44 (0) 20 3829 
                                                         5000 
Dominic King / Benjamin                 www.zeuscapital.co.uk 
 Robertson 
 
Peel Hunt LLP (Joint Broker) 
Corporate 
Mike Bell / Matthew Brooke-Hitching      Tel: +44 (0) 20 7418 
                                                         8900 
ECM Syndicate                                www.peelhunt.com 
Al Rae / Sohail Akbar

Media enquiries:

 
Buchanan 
Henry Harrison-Topham / Richard      Tel: +44 (0) 20 
 Oldworth / Helen Chan                     7466 5000 
watkinjones@buchanan.uk.com      www.buchanan.uk.com

Notes to Editors

Watkin Jones is a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation sector. The Group has strong relationships with institutional investors, and a good reputation for successful, on-time-delivery of high quality developments. Since 1999, Watkin Jones has delivered over 28,000 student beds across 88 sites, making it a key player and leader in the UK purpose built student accommodation market. In addition, Watkin Jones has been responsible for over 50 residential developments, ranging from starter homes to executive housing and apartments.

The Group's competitive advantage lies in its business model, which enables it to offer an end to end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset. Key components of the business model are:

-- Site identification - extensive experience of site identification and acquisition facilitates high quality sites being acquired;

-- Planning consents - in depth knowledge and experience of the planning consent process specific to this type of asset facilitates high success rates on planning applications;

-- In-house construction and delivery - in-house construction expertise, management and delivery limits reliance on third parties and, together with favourable contractual relationships with key suppliers, enhances control of cost;

-- Funding structure - forward sale model reduces risk for Watkin Jones and provides security and visibility of the asset pipeline for investors. The Group has strong relationships with blue chip investors, including a number that are repeat investors in Watkin Jones developments; and

-- Asset management - dedicated property management division provides a continued service solution to investors post development completion and completes the 'end to end' business model.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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