Ediston Property Inv Comp PLC Results of Share Issue (6050Y)

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

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December 06, 2017 10:56 ET (15:56 GMT)