Share capital update and Directors' holdings

RNS Number : 4227J

Home REIT PLC

21 December 2020

 

21 December 2020

LEI: 213800A53AOVH3FCGG44

Home REIT plc

("Home REIT" or the "Company") 

Share capital update and Directors' holdings in Company

Cancellation of share premium account

As stated in the Company's prospectus dated 22 September 2020 (the "Prospectus"), in order to increase the distributable reserves available to facilitate the payment of future dividends, the Company had resolved that, conditional upon Admission and the approval of the Court, the amount standing to the credit of the share premium account of the Company immediately following completion of the Issue be cancelled and transferred to a special distributable reserve. 

Home REIT is pleased to announce that, following the approval of the Court and the subsequent registration of the Court order with the Registrar of Companies on 18 December 2020, the reduction has now become effective. Accordingly, the amount of £233,353,351.05 previously held in the share premium account has been cancelled and shall be credited to a special distributable reserve. The Company may, at the discretion of the Board, pay all or any part of any future dividends out of this special distributable reserve, taking into account the Company's investment objective.

Directors' shareholdings

As detailed in the Prospectus, the Directors subscribed for the below Ordinary Shares at 100p per share during the Company's initial public offering and have therefore held (and continue to hold) beneficial interests in these shares since Admission.

Director	Number of Ordinary Shares held	% of Ordinary Shares in issue
Lynne Fennah	50,000	0.021
Peter Cardwell	10,000	0.004
Simon Moore	36,000	0.015
Marlene Wood	20,000	0.008

Capitalised terms used but not defined shall have the meanings given to them in the Prospectus.

For further information, please contact:

Anthony Lee

Apex Fund and Corporate Services (UK) Limited

Company Secretary to Home REIT plc

Tel: [phone]

 

END

 

 

MSCGZMZZVMGGGZM