Additional Listing

RNS Number : 6263Y

Primary Health Properties PLC

28 January 2014

 



Primary Health Properties PLC ("PHP" or "the Company")

Issue of new ordinary shares

PHP announces that it has today issued, subject to listing, 518,243 new ordinary shares of 50 pence each in the Company in relation to the acquisition of Prime Public Partnerships (Holdings) Limited ("PPP") ("the Issued Shares").  The Issued Shares have been issued to the vendors of PPP in accordance with the terms of the Acquisition Agreement.  Application has been made for the Issued Shares to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange which is expected to take place at 8.00 a.m. on 31 January 2014 ("Admission").

The Issued Shares comprise:

·     282,768 additional Consideration Shares following finalisation of the Completion Accounts based on the net asset value of PPP at completion, and

·     235,475 additional Consideration Shares following completion of the amendment of a PPP property lease.

Following this, there are no further elements of consideration payable under the terms of the Acquisition Agreement.

The Issued Shares will be subject to the lock up arrangements entered into by vendors of PPP under the Acquisition Agreement pursuant to which they have undertaken, subject to certain exceptions, not to sell or dispose of their holding of Consideration Shares for a period of 18 months following Completion.

Total Voting Rights

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the total number of ordinary shares in the capital of the Company in issue following Admission will be 110,992,473 each with one voting right. 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 share capital of the Company under the FCA's Disclosure and Transparency Rules.

Capitalised terms used but not defined in this announcement have the same meanings as set out in the prospectus relating to the acquisition dated 15 November 2013, which is available on PHP's website at www.phpgroup.co.uk.

For further information contact:

Primary Health Properties PLC                                        [phone]

Harry Hyman, Managing Director

Phil Holland

Bell Pottinger                                                                        [phone]

David Rydell / Victoria Geoghegan / Elizabeth Snow

 

END

 

 

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