Lok'nStore Group PLC Sale of Treasury Shares (0480O)
November 02 2016 - 2:00AM
UK Regulatory
TIDMLOK
RNS Number : 0480O
Lok'nStore Group PLC
02 November 2016
2 November 2016
Lok'nStore Group plc ('Lok'nStore' or the 'Company')
Sale of Treasury Shares
Following record annual results released on October 17(th) , the
Company is pleased to announce that on 1 November 2016 it sold
1,975,000 ordinary shares of 1 pence each ("Ordinary Shares") held
in treasury. This sale was undertaken to satisfy demand for the
Company's shares, and to improve liquidity going forward. The
Ordinary Shares were sold to a range of institutional investors at
a price of 400 pence per share.
The treasury shares held by the Company at 31 July 2016 were
acquired at an average price of 150.3 pence. The sale of these
shares from treasury will have no impact on earnings or taxable
profits for the Company. There remain 491,869 shares held in
treasury.
Following this transaction, the Company's issued share capital
consists of 29,199,230 Ordinary Shares. The total number of voting
rights in the Company, excluding treasury shares will therefore be
28,707,361 (the 'Figure').
The Figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in the
Company under the FCA's Disclosure and Transparency Rules.
Andrew Jacobs, CEO of Lok'nStore said:
"This placing of treasury shares has broadened our institutional
investor base and increased liquidity. We welcome the new
shareholders to the register. In the short term the funds received
will be used to reduce the Company's indebtedness reducing the loan
to value ratio even further to 13.8% on a pro forma basis, and will
be deployed in due course to support the Company's growth
strategy."
-Ends-
Enquiries:
Lok'nStore
Philippa Myers, Assistant
Company Secretary 01252 521 010
finnCap Ltd
Julian Blunt/Giles Rolls,
Corporate Finance
Alice Lane, Corporate Broking 020 7220 0500
Camarco
Billy Clegg/Tom Huddart 0203 757 4980
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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