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Taliesin Prop Fd Ltd (TPF)


Friday 29 April, 2016

Taliesin Prop Fd Ltd

Issue of Equity

RNS Number : 8865W
Taliesin Property Fund Limited
29 April 2016

Taliesin Property Fund Limited


Issue of Equity


Taliesin Property Fund Limited (the "Company") announces that on 29 April 2016 it issued in aggregate 356,515 new ordinary shares of no par value ("New Ordinary Shares") in satisfaction of €11,019,896 of the performance fee payable for the year ended 31 December 2015. Of these New Ordinary Shares 278,729 were issued to JJ Investment Management Limited ("JJIM") and 77,786 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 2015, being €30.91.  The aggregate performance fees in relation to 2015 amounted to €11,070,875 and accordingly a balance of €50,979 has been paid in cash to TML.


Following the issues of the New Ordinary Shares, TML will have a total shareholding in the Company of 615,946 ordinary shares, representing 12.73 per cent of the Company's voting rights.  In addition, Mark Smith, a director of the Company, who with his wife holds the majority of the ordinary shares of TML, also has a shareholding in the Company of 403,449 ordinary shares (including the ordinary shares issued to JJIM which is wholly owned by Mark Smith), representing 8.34 per cent of the Company's voting rights.


Application has been made for the 356,515 New Ordinary Shares to be admitted to trading on AIM and admission is expected to be effective at 8.00 a.m. on 6 May 2016


Following the allotments of the new Ordinary Shares, with effect from admission, the Company's issued share capital will consist of 4,840,187 ordinary shares, none of which are held in treasury.  Accordingly, the total number of voting rights in the Company will be 4,840,187.


For further information, please contact:


Taliesin Property Fund Limited

Mark Smith, Director      01534 700 000


Stockdale Securities Limited

Alastair Moreton            020 7601 6118

This information is provided by RNS
The company news service from the London Stock Exchange

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