Proposed Issue of Equity

RNS Number : 5814O

Real Estate Credit Inv. PCC Ltd

23 September 2013

 



23 September 2013

Real Estate Credit Investments PCC Limited ("RECI" or the "Company")

Proposed Issue of Equity

In response to investor demand and in light of the positive investment environment in the real estate debt market, the board of RECI announces that the Company is considering raising additional equity capital.  Any such fundraising would be undertaken at or around the Company's net asset value.

Subject to completion of such a fundraising, the Board intends to increase the Company's target dividend for 2014 to a minimum of 7% of the placing price of new ordinary shares issued under the fundraising, as a result of the beneficial effect on the company's total expense ratio that the fundraising would have.

Any fundraising will be subject to market conditions and further details will be announced in due course.

For further information please contact: Cheyne Capital Management (UK) LLP Nicole von Westenholz Tel: [phone]

Liberum Capital (Financial Adviser and Broker) James Bouverat / Nicole Kwan - Equity Sales Tel [phone] Chris Bowman / Richard Bootle Tel: [phone]

CTF Corporate & Financial Henrietta Dehn Tel: [phone]

 

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