Picton ZDP Limited 22-Mar-13 Zero Dividend Preference Share Purchases (7156A)

TIDMPCTZ

RNS Number : 7156A

Picton ZDP Limited

25 March 2013

25(th) March 2013

PICTON PROPERTY INCOME LIMITED

("Picton" or the "Company")

Zero Dividend Preference Share Purchases

In October 2012, Picton ZDP Limited, a wholly owned subsidiary of Picton Property Income Limited issued 22 million Zero Dividend Preference Shares ("ZDPs") and at that time the Company highlighted one of the benefits of ZDPs was the ability of the Company to reduce its gearing position through the purchase ZDPs over time.

Picton today announces its intention to purchase ZDPs in the market. It is expected that ZDP purchases will take place over time utilising excess cash flow. To that end, the Company has instructed Oriel Securities Limited to purchase ZDPs on the Company's behalf subject to certain pre-set parameters.

Picton confirms that it is satisfied that all inside information in relation to the ZDPs has previously been notified.

For further information:

 
 Picton Capital Limited 
  Michael Morris                        020 7011 9978 
 Oriel Securities Limited 
  Roger Clarke 
  Neil Langford                         020 7710 7600 
 Northern Trust International Fund 
  Administration Services (Guernsey) 
  Limited (Company Secretary) 
  Renee McIver                          01481 745 324 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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