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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Prs Reit (the) Plc | LSE:PRSR | London | Ordinary Share | GB00BF01NH51 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.50 | 0.63% | 79.60 | 79.50 | 80.00 | 80.20 | 79.40 | 79.40 | 205,479 | 13:42:12 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | 51.35M | 42.45M | 0.0773 | 10.30 | 437.2M |
TIDMPRSR
RNS Number : 4361V
PRS REIT PLC (The)
02 November 2017
2 November 2017
PRSR.L
The PRS REIT plc
(the "Company" or the "PRS REIT")
Share Premium Account
As stated in the Company's prospectus dated 4 May 2017 ("Prospectus"), in order to increase the distributable reserves available to facilitate the payment of future dividends, the Company had resolved that, conditional upon First Admission and the approval of the Court, the amount standing to the credit of the share premium account of the Company immediately following completion of the Issue be cancelled and transferred to a special distributable reserve.
The Company is pleased to announce that, following the approval of the Court on 1 November 2017 and the subsequent registration of the Court order with the Registrar of Companies on 2 November 2017, the cancellation has now become effective. Accordingly, the amount of GBP242,500,000 previously held in the share premium account has been cancelled and will be transferred to a special distributable reserve.
Capitalised terms used but not defined in this announcement shall have the same meaning as set out in the Prospectus.
For further information, please contact:
The PRS REIT plc Tel: +44 (0)20 3178 6378 Steve Smith, Non-executive Chairman Sigma PRS Management Limited Graham Barnet Graeme Hogg Tel: +44 (0)333 999 9926 N+1 Singer James Maxwell, Liz Yong, Michael Tel: +44 (0)20 Taylor 7496 3000 Stifel Tel: +44 (0)20 7710 7600 Mark Young, Neil Winward, Tunga Chigovanyika KTZ Communications Tel: +44 (0)20 3178 6378 Katie Tzouliadis, Irene Bermont-Penn, Emma Pearson
NOTES TO EDITORS
About The PRS REIT plc
(www.theprsreit.com)
The PRS REIT is a closed-ended real estate investment trust established to invest in the Private Rented Sector. The Company raised GBP250 million gross equity capital in an initial public offering via a Placing Offer for Subscription and Intermediaries Offer. The UK Government's Homes and Communities Agency supported the launch of the PRS REIT with a direct investment of c. GBP25 million. The proceeds of the fundraising will be invested in completed PRS sites and PRS development sites to achieve the Company's objective of providing shareholders with an attractive level of income together with the potential for capital and income growth.
About Sigma PRS Management Limited
Sigma PRS Management Limited is a wholly owned subsidiary of AIM quoted Sigma Capital Group plc and is the Company's Investment Adviser. It will source investments and manage the assets of The PRS REIT plc and advise the Company on a day-to-day basis in accordance with the Company's Investment Policy.
About Sigma Capital Group plc ("Sigma")
www.sigmacapital.co.uk
Sigma is a private rented sector, residential development, and urban regeneration specialist, with offices in Edinburgh, Manchester and London. Sigma's principal focus is on the delivery of large scale housing schemes for the private rented sector. It has a well-established track record in assisting with property-related regeneration projects in the public sector, acting as a bridge between the public and private sectors. Its subsidiary, Sigma PRS Management Limited, has been appointed as Investment Adviser to The PRS REIT plc.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
November 02, 2017 10:45 ET (14:45 GMT)
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