Conygar ZDP PLC Completion of Disposal (4002A)

TIDMCICZ

RNS Number : 4002A

Conygar ZDP PLC

24 March 2017

24 March 2017

Conygar ZDP PLC

Board Director Changes, Name Change to Regional REIT ZDP PLC and Change of Registered Office

Conygar ZDP PLC ("the Company") today announces that its ordinary share capital has been acquired ("the Acquisition") by Regional Commercial Midco Limited ("Regional Commercial Midco"), a wholly owned subsidiary of Regional REIT Limited ("Regional REIT") (LSE: RGL). Regional Commercial Midco has assumed the obligations to fund the repayment of the zero dividend preference shares ("ZDPs") issued by the Company and Regional REIT has guaranteed the performance of such obligations by Regional Commercial Midco.

On the completion of the Acquisition the final capital entitlement of the ZDPs, as at their maturity on 9 January 2019, has increased to GBP39.9m, being 132.9 pence per ZDP share.

Board Director Changes and Change of Company Secretary

Further to the Acquisition, the Company announces that William Eason, Stephen Inglis and Martin McKay, all existing Non-Executive Directors of Regional REIT, have been appointed to the Board of the Company with effect from 24 March 2017. Mr William Eason has been appointed Chairman of the Company.

Biographies of these Directors can be found on the website of Regional REIT at www.regionalreit.com.

At the same time Nigel Hamway, Ross McCaskill and Robert Ware have all stepped down as Directors of the Company.

Ross McCaskill has also stepped down as Company Secretary and Capita Secretarial Services Limited has been appointed as Company secretary in his place.

Name Change

The Company has resolved to change its registered name to Regional REIT ZDP PLC (LSE: RGLZ). The change of name is expected to become effective from 24 March 2017 at which time the ticker for the Company will change to RGLZ LN.

There will be no change to the SEDOL or ISIN number.

Change of Registered Office

Further to the Acquisition, the Company announces today that the Company has resolved to change its Registered Address to Beaufort House, 51 New North Road, Exeter, EX4 4EP.

Change of Accounting Information

Further to the Acquisition the Auditors, Rees Pollock, have resigned and will be replaced by RSM UK Audit LLP.

The Company has resolved to change its accounting reference date to 31 December.

- ENDS -

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation that came into effect on 3 July 2016.

Enquiries:

 
Conygar ZDP PLC 
Liberum Capital Limited                                     Tel: [phone] 
Richard Bootle 
 
Regional REIT Limited 
Press enquiries through Headland PR 
 
Toscafund Asset Management LLP                              Tel: [phone] 
Investment Manager to Regional REIT 
James S Johnson, Investor Relations, Regional REIT Limited 
 
London & Scottish Investments Limited                       Tel: [phone] 
Asset Manager to Regional REIT 
Stephen Inglis 
 
Headland PR Consultancy LLP                                 Tel: [phone] 
Financial PR 
Francesca Tuckett 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 24, 2017 03:00 ET (07:00 GMT)