Results of Placing and Offer

RNS Number : 0964G

UK Commercial Property Trust Ltd

25 January 2010

 



UK COMMERCIAL PROPERTY TRUST LIMITED

RIS ANNOUNCEMENT

25 JANUARY 2010

RESULTS OF PLACING AND OFFER

On 15 January 2010, the Board of UK Commercial Property Trust Limited (the "Company") announced details of the placing (the "Placing") and offer for subscription (the "Offer") of up to 195 million new ordinary shares (the "new Ordinary Shares") at a price of 77.1p per Share in order to raise gross proceeds of up to £150 million (the "Issue").

The Company is pleased to announce that commitments and applications have now been received under the Placing and Offer for in excess of 195 million new Ordinary Shares.  Accordingly, the Issue is fully subscribed and no further commitments will be accepted under the Placing and no further applications under the Offer will be satisfied.  

Application monies in respect of unsuccessful applications under the Offer will be returned as soon as possible.  

The Issue remains conditional upon the passing of a resolution by Independent Shareholders to approve the participation of Phoenix & London Assurance Limited in the Placing (as a related party transaction) at the extraordinary general meeting of the Company to be held at 11.00 a.m. on 10 February 2010.  As the Issue is fully subscribed, only 64,850,843 new Ordinary Shares (having an aggregate Issue Price of approximately £50 million) will be issued to Phoenix & London Assurance Limited under the Placing.

Application has been made to the UK Listing Authority for the new Ordinary Shares to be admitted to the Official List and to the London Stock Exchange for the new Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities. It is expected that Admission will become effective on 11 February 2010 and that dealings in the new Ordinary Shares will commence at 8.00 a.m. on 11 February 2010.

Terms set out in this announcement but not defined are as defined in the Prospectus published by the Company on 20 January 2010.

All enquiries

Douglas Armstrong, Dickson Minto W.S.

Tel: [phone]

Nigel Russell/Graeme Caton/Graham Reaves, G&N Collective Funds Services Limited
Tel: [phone]

Robert Boag, Ignis Investment Services Limited
Tel: [phone]

Dickson Minto W.S., which is authorised and regulated by the Financial Services Authority, is acting for the Company and for no-one else in connection with the contents of this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Dickson Minto W.S., or for affording advice in relation to the contents of this announcement or any matters referred to herein. 

 

END

 

 

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