Ground Rents Income Fund PLC Exercise of Warrants (4287Q)

TIDMGRIO

RNS Number : 4287Q

Ground Rents Income Fund PLC

12 September 2017

GROUND RENTS INCOME FUND PLC

EXERCISE OF WARRANTS

Ground Rents Income Fund plc has received warrant exercise notices and subscription monies in respect of 3,310,089 ordinary shares of 50 pence each (the "New Ordinary Shares"). The warrants have been exercised at a subscription price of GBP1.00 each. The New Ordinary Shares will rank pari passu with the existing ordinary shares in the Company.

As a result of the exercise, the unaudited NAV per share has been diluted by approximately 0.9 per cent. compared to the unaudited NAV per share as at 31 March 2017. The fully diluted unaudited NAV per share is unaffected. The number of warrants outstanding following this exercise is 4,718,273, representing 4.9 per cent. of the issued share capital.

Application has been made for the New Ordinary Shares to be admitted to the Official List of The International Stock Exchange and to trading on the SETSqx platform of the London Stock Exchange. It is expected that admission will become effective, and that dealings in the New Ordinary Shares will commence, on 13 September 2017.

Following this allotment, the issued share capital and total voting rights of the Company will consist of 96,712,100 ordinary shares of 50 pence each. 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 share capital of the Company.

Contacts:

 
 Ground Rents Income Fund plc 
 Simon Wombwell (Director)         020 7499 6424 
 
 Brooks Macdonald Funds Limited 
 James Agar (Director)             020 7659 3454 
 
 N+1 Singer (Broker) 
 James Maxwell / Liz Yong          020 7496 3000 
 
 Tavistock (Media) 
 Jeremy Carey / James Whitmore     020 7920 3150 
 
 Appleby Securities (Channel 
  Islands) Limited (Sponsor) 
 Kate Storey / Danielle Machon     01481 755600 
 

END OF ANNOUNCEMENT

This information is provided by RNS

The company news service from the London Stock Exchange

END

IOELBMFTMBIBBLR

(END) Dow Jones Newswires

September 12, 2017 04:00 ET (08:00 GMT)