Non-Mainstream Pooled Investments

RNS Number : 0248E

Picton Property Income Limited

04 April 2014

 



4 April 2014

PICTON PROPERTY INCOME LIMITED

("Picton" or the "Company")

Non-Mainstream Pooled Investments ("NMPI")

The Board of Picton Property Income Limited (the "Company") notes the changes to the Financial Conduct Authority's ("FCA") rules relating to the restrictions on the retail distribution of certain unregulated collective investment schemes and close substitutes ("Non-Mainstream Pooled Investments") which came into effect on 1 January 2014.

Following the receipt of legal advice, the Board confirms that, as at the date of this announcement, it conducts the Company's affairs, and intends to continue to conduct the Company's affairs, such that the Company would qualify for approval as an investment trust if it were based in the United Kingdom. As such the Company's shares will be excluded securities under the new rules and are therefore excluded from the FCA's restrictions which apply to Non-Mainstream Pooled Investment products.

ENDS

For further information:

Tavistock Communications                                                                                               020 7920 3150

James Verstringhe                                                                                           [e-mail]

Picton Capital Limited                                                                                                       020 7011 9980

Michael Morris                                                                                       [e-mail]

Northern Trust International Fund Administration Services (Guernsey) Limited

David Sauvarin                                                                                                                      01481 745529

                                                                                                                                         [e-mail]

Note to Editors

Picton Property Income Limited ('Picton') is an income focused, property investment company listed on the London Stock Exchange. It was established in 2005 to invest both directly and indirectly in commercial property across the United Kingdom.

With Net Assets of £204.3 million at 31 December 2013 and approximately 860 investors, the Company's objective is to provide shareholders with an attractive level of income, together with the potential for capital growth by investing in the principal commercial property sectors.

www.pictonproperty.co.uk

 

END

 

 

MSCQKNDKABKDBQK