Taliesin Prop Fd Ltd

Issues of Equity

RNS Number : 6207D
Taliesin Property Fund Limited
28 April 2017

Taliesin Property Fund Limited


Issues of Equity


Taliesin Property Fund Limited (the "Company") announces that on 29 April 2017 it issued in aggregate 259,806 new ordinary shares of no par value ("New Ordinary Shares") in satisfaction of €10,470,205 of the performance fee payable for the year ended 31 December 2016. Of these New Ordinary Shares 194,855 were issued to JJ Investment Management Limited ("JJIM") and 64,951 to Taliesin Management Limited ("TML"), the Company's joint investment advisers. Pursuant to the terms of the Company's investment adviser agreements with TML and JJIM, the New Ordinary Shares have been issued at a price equal to the 20 day average share price prior to 31 December 2016, being €40.30.  The aggregate performance fees in relation to 2016 amounted to €10,470,205.


Following the issues of the New Ordinary Shares, TML will have a total shareholding in the Company of 680,897 ordinary shares, representing 13.35 per cent of the Company's voting rights.  In addition, Mark Smith, a director of the Company, who holds the majority of the ordinary shares of TML, also has a shareholding in the Company of 598,304 ordinary shares (including the ordinary shares issued to JJIM which is wholly owned by Mark Smith), representing 11.73 per cent of the Company's voting rights.


Application has been made for the 259,806 New Ordinary Shares to be admitted to trading on AIM and admission is expected to be effective at 8.00 a.m. on 5 May 2017.


Following the allotments of the new Ordinary Shares, with effect from admission, the Company's issued share capital will consist of 5,099,993 ordinary shares, none of which are held in treasury.  Accordingly, the total number of voting rights in the Company will be 5,099,993.


For further information, please contact:


Taliesin Property Fund Limited

Mark Smith, Director                  01534 700 000


Stockdale Securities Limited

Robert Finlay/David Coaten         020 7601 6115

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