Taliesin Property Fund Limited Issues of Equity (6207D)

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RNS Number : 6207D

Taliesin Property Fund Limited

28 April 2017

Taliesin Property Fund Limited

Issues of Equity

Taliesin Property Fund Limited (the "Company") announces that on 29 April 2017 it issued in aggregate 259,806 new ordinary shares of no par value ("New Ordinary Shares") in satisfaction of EUR10,470,205 of the performance fee payable for the year ended 31 December 2016. Of these New Ordinary Shares 194,855 were issued to JJ Investment Management Limited ("JJIM") and 64,951 to Taliesin Management Limited ("TML"), the Company's joint investment advisers. Pursuant to the terms of the Company's investment adviser agreements with TML and JJIM, the New Ordinary Shares have been issued at a price equal to the 20 day average share price prior to 31 December 2016, being EUR40.30. The aggregate performance fees in relation to 2016 amounted to EUR10,470,205.

Following the issues of the New Ordinary Shares, TML will have a total shareholding in the Company of 680,897 ordinary shares, representing 13.35 per cent of the Company's voting rights. In addition, Mark Smith, a director of the Company, who holds the majority of the ordinary shares of TML, also has a shareholding in the Company of 598,304 ordinary shares (including the ordinary shares issued to JJIM which is wholly owned by Mark Smith), representing 11.73 per cent of the Company's voting rights.

Application has been made for the 259,806 New Ordinary Shares to be admitted to trading on AIM and admission is expected to be effective at 8.00 a.m. on 5 May 2017.

Following the allotments of the new Ordinary Shares, with effect from admission, the Company's issued share capital will consist of 5,099,993 ordinary shares, none of which are held in treasury. Accordingly, the total number of voting rights in the Company will be 5,099,993.

For further information, please contact:

Taliesin Property Fund Limited

   Mark Smith, Director                  01534 700 000 

Stockdale Securities Limited

   Robert Finlay/David Coaten         020 7601 6115 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 28, 2017 02:00 ET (06:00 GMT)