Acquisition of Shares by the Investment Manager

RNS Number : 0686N

Ediston Property Inv Comp PLC

28 January 2021

 

28 January 2021

Ediston Property Investment Company plc ('the Company')

(LEI: 213800JRL87EGX9TUI28)

Acquisition of Shares by the Investment Manager

Ediston, the Company's Investment Manager, has purchased 121,944 ordinary shares in the Company (Ordinary Shares). 

As part of recent proposals, the Investment Manager committed to invest 20 per cent of its quarterly management fee into Ordinary Shares, following publication of the Company's unaudited quarterly net asset value. 

This arrangement, which is in place for three years and commenced in the new financial year, is set out in the recent annual report and accounts. It is part of the Investment Manager's constructive proposals, described more fully in the report and accounts, designed to align Shareholder and Investment Manager interests in the future of the Company. The Ordinary Shares were purchased at 67.75 pence per share on 26 January 2021.

The acquisition brings the total number of Ordinary Shares owned by the Investment Manager, or by its management team ('Managerial Holdings'), to 1.7 million shares as at 26 January 2021.  The future intention is to disclose the aggregate Managerial Holdings in the interim and annual accounts, including any reinvestment of dividends under these arrangements.

This announcement is made to notify the commencement of the managerial arrangements, rather than as any statutory duty of disclosure of interest in shares.

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Enquiries
Will Barnett	- Investec Bank plc	0207 597 5873
Calum Bruce	- Ediston Properties Limited	0131 225 5599
Ruth Wright	- JTC	0203 893 1011
Ben Robinson	- Kaso Legg Communications	0203 995 6672
Stephanie Ross	- Kaso Legg Communications	0203 995 6676

 

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