Schroder Eur Real Est Inv Trust PLC Announcement of Placing Price (0559N)
October 20 2016 - 5:08AM
UK Regulatory
TIDMSERE
RNS Number : 0559N
Schroder Eur Real Est Inv Trust PLC
20 October 2016
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA OR
JAPAN.
20 October 2016
SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC
ANNOUNCEMENT OF PLACING PRICE
Further to the announcement released on 10 October 2016
regarding proposals to issue new Ordinary Shares by way of a
placing (the 'Placing'), pursuant to the terms and conditions of
the Placing Programme established under the prospectus issued by
the Company dated 11 November 2015 (the 'Prospectus') the Board of
Schroder European Real Estate Investment Trust plc (the 'Company')
is pleased to announce the price at which new Ordinary Shares will
be issued (the 'Placing Price').
The Placing Price is based on the last published NAV per Share
as at 30 June 2016, converted into sterling and adjusted for, among
other things, the first interim dividend and a premium of
approximately 3%. Based on the GBP/EUR exchange rate prevailing as
at 19 October 2016 the Placing Price will be 120 pence per
share.
The Placing is expected to close at 3.00 pm UK time (4.00 pm SA
time) on Friday, 21 October 2016 but may close earlier (or later)
at the absolute discretion of the Company, in consultation with
Numis Securities Limited ('Numis') and PSG Capital Proprietary
Limited ('PSG Capital'), who are acting as joint placing agents to
the Company. The Placing is not being underwritten.
Participation in the Placing in the UK will be available only to
persons falling within Articles 49(2)(a) to (d) or 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotions)
Order 2005 or to persons whom the Ordinary Shares may otherwise
lawfully be offered under that Order. Participation in the Placing
in South Africa will be available only to persons who are invited
to participate and who fall within any of the categories envisaged
in section 96(1)(a) of the South African Companies Act or who
subscribe for a minimum amount of R1,000,000 (one million Rand) per
single addressee acting as principal, as contemplated in section
96(1)(b) of the South African Companies Act. Such persons are
invited to apply for new Ordinary Shares by contacting their usual
contact at Numis and PSG Capital.
Capitalised terms in this announcement shall (unless expressly
stated otherwise) have the meaning given to them in the Prospectus.
A copy of the Prospectus is available from the Company's website at
www.schroders.co.uk/sereit and is available for inspection during
usual business hours on any day (Saturdays, Sundays and public
holidays excepted) at the offices of Stephenson Harwood LLP, 1
Finsbury Circus, London EC2M 7SH and at the offices of PSG Capital,
1st Floor Ou Kollege, 35 Kerk Street, Stellenbosch, 7600 and 1st
Floor, Building 8, Inanda Greens Business Park, 54 Weirda Road
West, Wierda Valley, Sandton, 2196.
Enquiries:
Sponsor, Broker and Placing Agent in the UK
Numis (UK investors)
Tel: 020 7260 1000
David Benda (Corporate)
Sponsor and Placing Agent in South Africa
PSG Capital (SA investors)
Tel: +27 21 887 9602
David Tosi
Willie Honeyball
PR Advisor to Schroder European Real Estate Investment Trust
plc
FTI Consulting - UK
Tel: 020 3727 1000
Dido Laurimore/Ellie Sweeney/Richard Gotla
FTI Consulting - SA
Tel: +27 (0) 11 214 2402
Max Gebhardt/Trevor Jones
Important Information
This announcement has been prepared by, and is the sole
responsibility of, Schroder European Real Estate Investment Trust
plc.
Numis is acting only for the Company in connection with the
matters described in this announcement and is not acting for or
advising any other person, or treating any other person as its
client, in relation thereto and will not be responsible for
providing the regulatory protection afforded to clients of Numis or
advice to any other person in relation to the matters contained
herein.
PSG Capital is acting only for the Company in connection with
the matters described in this announcement and is not acting for or
advising any other person, or treating any other person as its
client, in relation thereto and will not be responsible for
providing the regulatory protection afforded to clients of PSG
Capital or advice to any other person in relation to the matters
contained herein.
The Company is not and will not be registered under the US
Investment Company Act of 1940, as amended. The Ordinary Shares
have not been, nor will they be, registered under the US Securities
Act of 1933, as amended (the "Securities Act") or with any
securities regulatory authority of any state or other jurisdiction
of the United States or under the applicable securities laws of
Australia, Canada, Japan or the Republic of Ireland. Subject to
certain exceptions, the Ordinary Shares may not be offered or sold
in the United States, Australia, Canada, Japan or the Republic of
Ireland or to or for the account or benefit of any national,
resident or citizen of Australia, Canada, Japan or the Republic of
Ireland or any person located in the United States. The Placing and
the distribution of this announcement in other jurisdictions may be
restricted by law and the persons into whose possession this
announcement comes should inform themselves about, and observe, any
such restrictions.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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