Standard Life Investments Property Income Trust - Block Listing Application
January 17 2017 - 8:17AM
PR Newswire (US)
17 January 2017
Standard Life
Investments Property Income Trust Limited
Blocklisting application
Standard Life Investments Property Income Trust Limited (the
“Company”) has made an application to the UK Listing Authority for
a blocklisting of 19,000,000 ordinary shares of 1p each in the
Company (the “Shares”) to be admitted to the premium segment of the
Official List and to trading on the Main Market of the London Stock
Exchange.
The Company has seen strong demand for its Shares which has been
reflected in the Shares trading at an average premium to net asset
value of 7.1% over the last three months. The Company therefore
intends to pursue an issuance programme through its corporate
broker, Winterflood Securities Limited, with a view to managing the
Company’s premium to net asset value. Any Shares issued under the
issuance programme will only be issued at a premium to net asset
value (plus costs) and will be accretive to existing
shareholders.
The Shares issued under the blocklisting will be issued pursuant
to the Company’s issuance programme to meet excess market demand
for the Shares. The net proceeds from the issue of new Shares will
be used to reduce the Company's borrowings and/or invested in
accordance with the Company's investment policy.
The blocklisting is expected to become effective at 8:00 a.m. on 18 January
2017.
For further details please contact:
Standard Life
Investments
Graeme McDonald |
0131 245 3151 |
Winterflood
Investment Trusts
Graeme Caton
Neil Langford |
020 3100 0000 |
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