Further placing of shares

RNS Number : 6318I

Schroder Eur Real Est Inv Trust PLC

10 December 2015

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF IRELAND.

This announcement is not an offer to sell, or a solicitation of an offer to acquire, securities in the United States or in any other jurisdiction. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC

Further placing of shares

10 December 2015

Following the Company's announcement on 9 December 2015 of the issue of 107.5 million new Ordinary Shares ("New Shares") by way of an IPO, the Board is pleased to announce a further placing of new Ordinary Shares under the Placing Programme which commenced on 10 December  2015 ("the Issue").

A total of 450,000 new Ordinary Shares (the "New Ordinary Shares") have been placed, subject to Admission and on the other terms and conditions set out in the Prospectus dated 11 November 2015, by Numis Securities Limited ("Numis") at a price of 100p per share, raising gross proceeds of £450,000.

The New Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares of the Company. This includes the right to receive all dividends and other distributions declared or paid in respect of such Ordinary Shares after the date of Admission of the New Ordinary Shares.

Applications have been made to the UK Listing Authority and the London Stock Exchange for the New Ordinary Shares of the Company 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 has been made to the JSE for the New Ordinary Shares of the Company to be admitted to trading on the JSE's main board for listed securities, as a secondary listing. It is expected that Admission will take place at commencement of trading on Monday 14 December 2015 (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 107,950,000. The total number of voting rights of the Company will be 107,950,000 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 and Transparency Rules.

Capitalised terms in this announcement shall (unless expressly stated otherwise) have the meaning given to them in the prospectus issued by the Company on 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.

For further details contact:

Sponsor, Broker and Placing Agent in the UK

Numis Securities (UK investors)       020 7260 1000

Katherine Miller (Sales)

David Benda (Corporate)

Sponsor and Placing Agent in South Africa

PSG Capital (SA investors)                  [phone]

David Tosi

Willie Honeyball

Important Information

This announcement has been prepared by, and is the sole responsibility of, Schroder European Real Estate Investment Trust PLC.

Numis Securities Limited 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 Securities Limited 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 Issue 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 announcement does not constitute, envisage or represent an offer to the public in South Africa, as envisaged in the South African Companies Act.  In South Africa, only persons who are invited to participate in the Issue 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, are entitled to participate in the Issue.

 

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