FAV calculation

RNS Number : 9892P

UK Commercial Property Trust Ltd

27 July 2010

 



RIS Announcement

UK Commercial Property Trust Limited (the "Company" or "UKCPT")

27 July 2010

FAV calculation

Under the terms of the recommended proposals in relation to the acquisition of the business and assets of F&C Commercial Property Trust Limited ("FCPT"), details of which were set out in the Circular to Shareholders dated 12 July 2010 (the "Scheme"), the UKCPT FAV (being the net asset value of a UKCPT ordinary share as at close of business on 30 June 2010, as adjusted and calculated in accordance with the Scheme) was 75.5720p per share and the FCPT FAV (being the net asset value of an FCPT Share as at close of business on 30 June 2010, as adjusted and calculated in accordance with the Scheme) was 93.2049p per share.  The FAVs have been reviewed by UKCPT's and FCPT's respective auditors.

Based on the UKCPT FAV and the FCPT FAV set out above, an FCPT Shareholder would receive 1.2333 New UKCPT Shares under the Scheme, in respect of each FCPT Share held and not elected for the cash option available under the Scheme.

The Scheme is conditional on the passing of resolutions to be proposed at an Extraordinary General Meeting of the Company convened for 9 August 2010.  The Scheme is also conditional on the approval of FCPT Shareholders at an extraordinary general meeting also convened for 9 August 2010.

Enquiries:

Nigel Russell/Graeme Caton/Graham Reaves	G&N Collective Funds Services Limited	Tel: [phone]
Gary Hutcheson	Ignis Investment Services Limited	Tel: [phone]
John Llewellyn-Lloyd/Peter Tracey/Richard Crawley/Sunil Sanikop	Execution Noble & Company Limited	Tel: [phone]
Stephanie Highett/Richard Sunderland/Rachel Drysdale/Olivia Goodall,	Financial Dynamics, Financial PR Adviser to UKCPT	Tel: [phone]

Words and expression defined in the Circular issued by the Company dated 12 July 2010 have the same meanings when used in this announcement unless the context requires otherwise.

This announcement is not intended to and does not constitute, or form any part of, an offer to sell or an invitation to subscribe for or purchase any securities or the solicitation of any vote or approval in any jurisdiction, pursuant to the Scheme or otherwise.  

Execution Noble & Company Limited is acting exclusively for UKCPT and no one else in connection with the matters described in this announcement and will not be responsible to anyone other than UKCPT for providing the protections afforded to customers of Execution Noble & Company Limited or for providing advice in relation to the Scheme or any other matter referred to herein.

 

END

 

 

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