Picton ZDP Limited 22-Mar-13 Zero Dividend Preference Share Purchases (7156A)
March 25 2013 - 2:00AM
UK Regulatory
TIDMPCTZ
RNS Number : 7156A
Picton ZDP Limited
25 March 2013
25(th) March 2013
PICTON PROPERTY INCOME LIMITED
("Picton" or the "Company")
Zero Dividend Preference Share Purchases
In October 2012, Picton ZDP Limited, a wholly owned subsidiary
of Picton Property Income Limited issued 22 million Zero Dividend
Preference Shares ("ZDPs") and at that time the Company highlighted
one of the benefits of ZDPs was the ability of the Company to
reduce its gearing position through the purchase ZDPs over
time.
Picton today announces its intention to purchase ZDPs in the
market. It is expected that ZDP purchases will take place over time
utilising excess cash flow. To that end, the Company has instructed
Oriel Securities Limited to purchase ZDPs on the Company's behalf
subject to certain pre-set parameters.
Picton confirms that it is satisfied that all inside information
in relation to the ZDPs has previously been notified.
For further information:
Picton Capital Limited
Michael Morris 020 7011 9978
Oriel Securities Limited
Roger Clarke
Neil Langford 020 7710 7600
Northern Trust International Fund
Administration Services (Guernsey)
Limited (Company Secretary)
Renee McIver 01481 745 324
This information is provided by RNS
The company news service from the London Stock Exchange
END
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