TIDMSERE
RNS Number : 2303N
Schroder Eur Real Est Inv Trust PLC
24 October 2016
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA OR
JAPAN.
24 October 2016
SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC
ANNOUNCEMENT OF RESULTS OF PLACING
Further to the announcement dated 10 October 2016 the Board of
Schroder European Real Estate Investment Trust plc (the "Company")
is pleased to announce the successful issue of new Ordinary
Shares.
Commitments for 12,500,000 new Ordinary Shares were received
under the Placing and accordingly, a total of 12,500,000 new
Ordinary Shares ("New Shares") have therefore been placed, subject
to Admission, by Numis Securities Limited ("Numis") and PSG Capital
Proprietary Limited ("PSG Capital") at a price of 120 pence per
share, raising gross proceeds of approximately GBP15 million. The
New Shares represent approximately 10.3% of the issued ordinary
share capital of the Company prior to the Placing.
The New Shares issued pursuant to the Placing will rank pari
passu in all respects with the existing Ordinary Shares (save for
any dividends or other distributions declared, made or paid on the
Ordinary Shares by reference to a record date prior to the
allotment of the relevant New Shares).
Applications will be made to the UK Listing Authority and the
London Stock Exchange for the New Shares issued pursuant to the
Placing to be admitted to the premium segment of the Official List
and to trading on the London Stock Exchange's main market for
listed securities as a primary listing. In addition, application
will be made to the Johannesburg Stock Exchange ("JSE") for the New
Shares issued pursuant to the Placing to be admitted to trading on
the JSE's main board for listed securities. It is expected that
such admission will take place at commencement of trading on
Friday, 28 October 2016 (or such later date as may be agreed
between the Company, Numis and PSG Capital).
Following Admission, the number of Ordinary Shares that the
Company has in issue will be 133,743,686. The total number of
voting rights of the Company will be 133,743,686 and this 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 to their interest in the Company, under
the Disclosure Guidance and Transparency Rules.
Sir Julian Berney, Non-Executive Chairman of the Company
commented:
"Schroder European Real Estate Investment Trust plc is pleased
to announce a capital raise of GBP15 million from investors to
continue the growth of the Company which was listed in December
2015. Together with the existing available cash and the use of
moderate leverage, this continues to position the Company well.
Having constructed a portfolio of high quality real estate in
the growth cities of continental Europe, it will enable further
deployment into the pipeline of new investment opportunities. This
will be accretive to returns and will continue to develop the
strategy of delivering an attractive income distribution with
potential for long-term income and capital growth."
Capitalised terms in this announcement shall (unless expressly
stated otherwise) have the meaning given to them in the prospectus
issued by the Company dated 11 November 2015 (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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