LXB Retail Properties Plc Dissolution Order & Dissolution Return of Capital (7323Z)

TIDMLXB

RNS Number : 7323Z

LXB Retail Properties Plc

21 May 2019

LXB Retail Properties Plc

(the "Company")

Dissolution Order and Dissolution Return of Capital

LXB Retail Properties Plc, the Jersey resident closed-ended real estate investment company which focused on edge of town and out of town retail assets, announces that the Royal Court of Jersey (the "Court") has today granted orders:

(i) sanctioning the dissolution of the Company ("Company Dissolution") under Article 127(2)(iv) of the Companies (Jersey) Law 1991, as amended (the "Jersey (Companies) Law"); and

(ii) as part of Company Dissolution, authorising a return of capital of GBP2,024,535 (equating to approximately 1.2p per ordinary share of no par value in the capital of the Company) to those persons entered on the register of members of the Company at the close of business on 22 May 2019 (the "Dissolution Return of Capital").

The Act of the Court in respect of Company Dissolution shall have effect upon its delivery to the Registrar of Companies of Jersey, which is expected to take place on 31 May 2019.

The following timetable sets out the expected dates of principal events:

 
                                                                  2019 
 Last day of dealings in, and for registration                  22 May 
  of transfers of, and disablement in CREST 
  of, the Ordinary Shares 
 Record date for participation in Dissolution        Close of business 
  Return of Capital                                          on 22 May 
 Suspension of admission to trading on AIM,        7.30 a.m. on 23 May 
  listing on TISE and dealings in the Ordinary 
  Shares 
 CREST accounts credited and despatch of cheques   As soon as possible 
  in respect of Dissolution Return of Capital                on 30 May 
 Expected time and date of AIM Cancellation        7.00 a.m. on 31 May 
  and TISE Delisting 
 Expected time and date of Company Dissolution      After 9.00 a.m. on 
                                                                31 May 
 

Unless otherwise defined, capitalised terms shall have the meaning given to them in the circular to shareholders dated 1 March 2019, copies of which are available on the Company's website (www.lxbproperties.com).

For further information please contact:

LXB3 Partners LLP Tel: [phone]

Tim Walton, CEO

J.P. Morgan Cazenove (NOMAD) Tel: [phone]

Bronson Albery/Paul Hewlett

Buchanan Tel: [phone]

Charles Ryland/Henry Wilson

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May 21, 2019 08:45 ET (12:45 GMT)