ACQUISITIONS & ALLOTMENT OF CONSIDERATION SHARES

RNS Number : 0312C

Vordere PLC

12 June 2019

 

                                                                                                                                          12 JUNE 2019

VORDERE PLC ("THE COMPANY")

COMPLETION OF ACQUISITIONS AND ALLOTMENT OF CONSIDERATION SHARES

Acquisition Agreements

The Directors of the Company are pleased to announce that, in accordance with its published investment strategy, the Company has signed binding agreements to acquire six properties in Germany, for a total purchase price of €59,290,000 (the "Acquisition Agreements").  The six properties, valued by Jones Lange Lasalle, in combination represent an estimated Gross Development Value of €492,310,000 and an estimated Gross Development Profit of €52,955,275.

The consideration for the properties under the Acquisition Agreements will be satisfied by the issue of new ordinary shares in the Company (the "Consideration Shares"), which the Company intends to issue pursuant to the approval and publication of a prospectus in accordance with the Listing Rules and the Prospectus Rules (the "Prospectus").  

Application for Listing

The Acquisition Agreements are conditional upon the issue of Consideration Shares and the issue and admission to trading of the Consideration Shares, which is dependent upon the approval of the Prospectus and the admission of the Consideration Shares to the standard segment of the Official List and to trading on the London Stock Exchange.

The Company intends to seek approval of a Prospectus and make an application for the Consideration Shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities.

The Company will update shareholders as the matter progresses.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No 596/2014.

This announcement and the information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulation of such jurisdiction.

Enquiries

Company Secretary Claire Jackson	[phone]
Peterhouse Capital Limited Lucy Williams / Duncan Vasey	[phone]

 

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