Regional REIT ZDP PLC Posting of circular and notice of general meeting (7364J)
December 07 2018 - 1:00AM
UK Regulatory
TIDMRGLZ
RNS Number : 7364J
Regional REIT ZDP PLC
07 December 2018
7 December 2018
REGIONAL REIT ZDP PLC
Posting of circular and notice of general meeting
Regional REIT ZDP PLC (LSE: RGLZ) (the "Company"), today
announces that a circular (the "Circular") relating to the
recommended members' voluntary winding-up of the Company and notice
of a general meeting (the "Meeting") to approve the winding-up of
the Company is expected to be posted to all shareholders of the
Company later today.
The Company issued zero dividend preference shares of GBP1.00
each (the "ZDP Shares") in January 2014. On 24 March 2017, the
Company announced that the final capital entitlement of the ZDP
Shares, as at their maturity on 9 January 2019, would be 132.9
pence per ZDP Share (the "Final Capital Entitlement"). The
Company's articles of association (the "Articles") provide that the
Company shall be placed into voluntary liquidation on 9 January
following a general meeting convened for the purposes of passing a
winding up resolution. A winding-up of the Company enables the
Final Capital Entitlement to be paid in accordance with the
Articles.
Accordingly, the Directors have convened a general meeting of
the Company, which will be held on Wednesday 9 January 2019, at
which a resolution will be proposed requiring the Company to be
wound up voluntarily pursuant to section 84(1)(b) of the Insolvency
Act 1986. The Directors intend to make a declaration of solvency
prior to the Meeting.
The Meeting (which holders of ZDP Shares ("ZDP Shareholders")
and the holder of ordinary shares are entitled to attend and vote)
will be held at 9.30am on 9 January 2019 at the offices of
Macfarlanes LLP, 20 Cursitor Street London EC4A 1LT.
An expected timetable in relation to the payment of the Final
Capital Entitlement and the winding-up is set out below.
To view the Circular, please go to the website of Regional REIT
Limited: http://www.regionalreit.com/about-us/rglz/circular-proxy.
A copy of the Circular will be submitted to the National Storage
Mechanism and will be available for inspection at
http://www.morningstar.co.uk/uk/NSM
Also available at the National Storage Mechanism is a copy of
the Notice of the General Meeting for the one ordinary shareholder,
Regional Commercial MidCo Limited, a 100% owned subsidiary of
Regional REIT Limited.
Expected Timetable
2019(1)
Latest time and date for receipt of Forms 9.30 a.m. on 7 January
of Proxy and for appointments utilising
the CREST electronic proxy appointment
service for the General Meeting
Record date for the Final Capital Entitlement 6.00 p.m. on 8 January
Admission of the ZDP Shares to the Official 7.30 a.m. on 9 January
List and trading of the ZDP Shares on
the London Stock Exchange's Main Market
suspended and register of ZDP Shareholders
closed
General Meeting 9.30 a.m. on 9 January
In respect of ZDP Shares held in uncertificated 9 January
form, relevant CREST accounts credited
with the Final Capital Repayment(2)
In respect of ZDP Shares held in certificated 9 January
form, cheques in respect of the Final
Capital Entitlement despatched to ZDP
Shareholders entitled thereto(2)
Admission of the ZDP Shares to the Official 8.00 a.m. on 10 January
List and trading of the ZDP Shares on
the London Stock Exchange's Main Market
cancelled(2)
Notes:
(1) All times referred to in this document are, unless otherwise
stated, references to London time.
(2) Conditional on the resolution to be proposed at the General
Meeting being passed.
- ENDS -
Enquiries:
Regional REIT Limited
Press enquiries through Headland PR
Toscafund Asset Management Tel: +44 (0) 20 7845
6100
Investment Manager to the Group
Adam Dickinson, Investor Relations, Regional
REIT Limited
London & Scottish Investments Tel: +44 (0) 141
248 4155
Asset Manager to the Group
Stephen Inglis
Headland PR Consultancy LLP Tel: +44 (0) 20 3805
4822
Financial PR
Francesca Tuckett / Jack Gault
About Regional REIT ZDP
Regional REIT ZDP PLC (LSE: RGLZ) is a wholly-owned subsidiary
of Regional Commercial Midco Limited, itself a wholly-owned
subsidiary of Regional REIT Limited. Regional REIT ZDP PLC was
acquired on 24 March 2017 as part of a transaction for a portfolio
of commercial property assets. Regional Commercial Midco has
assumed the obligations to fund the repayment of the zero dividend
preference shares issued by Regional REIT ZDP PLC.
Regional REIT Limited (LSE: RGL) is a London Stock Exchange Main
Market traded specialist real estate investment trust focused on
office and industrial property interests in the principal regional
locations of the United Kingdom outside of the M25 motorway.
Regional REIT Limited is managed by London & Scottish
Investments, the Asset Manager, and Toscafund Asset Management, the
Investment Manager, and was formed by the combination of two
existing funds previously created by the Managers as a
differentiated play on the expected recovery in UK regional
property, to deliver an attractive total return to Shareholders and
with a strong focus on income.
ESMA Legal Entity Identifier ("LEI"): 5493008P27MNKQPREM26
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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