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TIDMRDI
RNS Number : 5482W
Redefine International PLC
01 February 2012
FOR IMMEDIATE RELEASE
01 February 2012
REDEFINE INTERNATIONAL P.L.C.
("Redefine International" or the "Company")
Placing and Admission of Ordinary Shares
The Directors of Redefine International, the income-focused diversified property company, are pleased to announce that a total of 12,750,000 Ordinary Shares of 7.2 pence each ("Ordinary Shares") have been placed with Redefine Properties International Limited ("RIN") at a price of 37.0 pence per share (the "transaction") (a 2% discount to the closing mid-price on 31 January 2012 of 37.75p), of which 939,000 Ordinary Shares have been sold out of treasury.
These shares have been issued pursuant to the Company exercising the Call Option, as advised on 18 January 2012, in terms of which Redefine International, at its sole option, could place Ordinary Shares with RIN at the sterling equivalent of up to AUD7.5 million at current market prices. The Call Option, between the Company and RIN, was entered into in order to assist with funding the Company's underwriting commitment in connection with the Cromwell Property Group Capital Raising, as announced on RNS on 16 December 2011.
The Company expects admission of an additional 11,811,000 Ordinary Shares to the Premium Segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's Main Market for listed securities, for which application will be made, to become effective at 8.00 am on 6 February 2011. These new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares in issue.
Following the transaction, the total number of voting rights in the Company is 579,454,792 and no Ordinary Shares are held in treasury. The figure of 579,454,792 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
Further enquiries:
Redefine International Property Management Ltd
Investment Adviser
Michael Watters, Stephen Oakenfull Tel: +44 (0) 20 7811 0100
Evolution Securities
Joint Corporate Broker
Chris Sim, Jeremy Ellis Tel: +44 (0) 20 7071 4300
Peel Hunt
Joint Corporate Broker
Capel Irwin, Matthew Armitt, Hugh Preston Tel: +44 (0) 20 7418 8900
FTI Consulting
Public Relations Adviser
Stephanie Highett, Dido Laurimore Tel: +44 (0) 20 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
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