Secure Income REIT PLC Issue of Shares (3514R)

TIDMSIR

RNS Number : 3514R

Secure Income REIT PLC

26 June 2015

26 June 2015

Secure Income REIT Plc (the "Company")

Issue of Shares in connection with pre-existing arrangements

The Company announces that, pursuant to the Commitment Agreement as disclosed in the Company's Admission Document dated 30 May 2014 (the "Admission Document"), the fifth tranche of six new ordinary shares of 10 pence each (a "Share") has been subscribed for by certain of its investors (the "Existing Investors") in respect of the advisory fee payable by the Company to Prestbury Investments LLP ("Prestbury") for the quarter ended 30 June 2015. The total subscription price payable by the Existing Investors for the shares to be issued to them is GBP1,321,244 which represents the maximum quarterly amount payable under the terms of the Commitment Agreement.

The six Shares to be issued under this arrangement have been allotted on today and issued pursuant to the Company's block listing authority.

The details of the subscriptions are as follows:

 
                                            Subscription   Post subscription   Post subscription 
                                               price per        shareholding        shareholding 
                                               new Share            (shares)                 (%) 
   Existing Investor                               (GBP) 
-----------------------------------------  -------------  ------------------  ------------------ 
 
 Bluetouch Investments (Malta) 
  Limited                                         88,083          10,654,876                5.9% 
 Brookstone Limited                               88,083          10,654,876                5.9% 
 PIHL Property LLP                               352,331          42,619,489               23.6% 
 Prestonfield P1 Limited                         352,332          14,206,497                7.9% 
 West Coast Capital Prestven Investments 
  Limited                                        352,332          14,206,499                7.9% 
 Dominic Silvester                                88,083          10,654,876                5.9% 
 

PIHL Property LLP is connected with Nick Leslau, a Director of the Company, in accordance with section 252 of the Companies Act 2006 (the "Act"). In addition Nick Leslau is connected to the Saper Trust, in accordance with section 252 of the Act, which holds 57,471 Shares, and is also a member of Prestbury Investments LLP which holds 11,900,432 Shares in the Company through its wholly owned subsidiary, Prestbury Incentives Limited. PIHL Property LLP, the Saper Trust and Prestbury Incentives Limited are members of the Prestbury Concert Party (as defined in the Admission Document). Following the issue of these Shares: (i) the Prestbury Concert Party, has a beneficial holding of 55,355,203 Shares, representing 30.7% of the Company's voting rights; and (ii) the Concert Party (as defined in the Admission Document), which includes the Prestbury Concert Party, holds 66,010,079 Shares, representing 36.6% of the voting rights in the Company.

Following the allotment of the Shares, and in accordance with the Disclosure and Transparency Rules, the Company's issued voting ordinary share capital is 180,344,216 Shares, an increase of six Shares. There are no Shares held in treasury. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the ordinary share capital of the Company under the Disclosure and Transparency Rules.

Enquiries:

 
 Secure Income REIT Plc                       [phone] 
 Sandy Gumm 
 
 Stifel Nicolaus Europe Limited (Nominated 
  Adviser)                                    [phone] 
 David Arch 
 Tom Yeadon 
 
 FTI Consulting                               [phone] 
 Richard Sunderland 
 Claire Turvey 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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