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IPO successfully raises £107.5 million
Schroder European Real Estate Investment Trust PLC
(Incorporated in England and Wales)
Registration number: 09382477
JSE Share Code: SCD
LSE Ticker: SERE
ISIN number: GB00BY7R8K77
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO,
THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF IRELAND.
This announcement is not an offer to sell, or a solicitation of an offer to acquire,
securities in the United States or in any other jurisdiction. Neither this announcement
nor any part of it shall form the basis of or be relied on in connection with or act as
an inducement to enter into any contract or commitment whatsoever.
SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC
IPO successfully raises £107.5 million
3 December 2015
Schroder European Real Estate Investment Trust PLC (the “Company") today announces that
it has received commitments to raise gross proceeds of £107.5 million in its initial
public offering (“IPO”) of shares. Commitments for 104,347,800 Ordinary Shares were
received under the Initial Placing and a total of 3,152,200 Ordinary Shares will be
subscribed for under the Offer for Subscription. Accordingly the Company has determined
that all commitments and subscriptions will be satisfied in full.
Applications have been made to the UK Listing Authority and the London Stock Exchange for
all of the Ordinary Shares of the Company to be admitted to the premium segment of the
Official List and to trading on the London Stock Exchange’s main market for listed
securities as a primary listing. In addition, application has been made to the JSE for
all of the Ordinary Shares of the Company to be admitted to trading on the JSE’s main
board for listed securities, as a secondary listing (conditional approval has already
been obtained).
Expected timetable
First Admission and dealings in Ordinary Shares commence 8.00 a.m. (GMT) or 10.00 a.m.
(SAST) on 9 December 2015
CREST, CSDP or brokerage accounts credited with 8.00 a.m. (GMT) or 10.00 a.m.
uncertificated Ordinary Shares (SAST) on 9 December 2015
Where applicable, definitive share certificates despatched by 14 December 2015
post in the week commencing
Any changes to the expected timetable set out above will be notified by the Company
through a Regulatory Information Service and a SENS announcement. All references to times
are to London times unless specified otherwise.
Capitalised terms in this announcement shall (unless expressly stated otherwise) have the
meaning given to them in the prospectus issued by the Company on 11 November 2015
(the "Prospectus"). A copy of the Prospectus is available from the Company’s website at
www.schroders.co.uk/sereit and is available for inspection during usual business hours on
any day (Saturdays, Sundays and public holidays excepted) at the offices of Stephenson
Harwood LLP, 1 Finsbury Circus, London EC2M 7SH and at the offices of PSG Capital, 1st
Floor Ou Kollege, 35 Kerk Street, Stellenbosch, 7600 and 1st Floor, Building 8, Inanda
Greens Business Park, 54 Weirda Road West, Wierda Valley, Sandton, 2196.
For further details contact:
Sponsor, Broker and Placing Agent in the UK
Numis Securities (UK investors) 020 7260 1000
Katherine Miller (Sales)
David Benda (Corporate)
Sponsor and Placing Agent in South Africa
PSG Capital (SA investors) +27 21 887 9602
David Tosi
Willie Honeyball
Other advisers
Legal Adviser to the Company as to English law Stephenson Harwood LLP
Legal Adviser to the Company as to South African law Cliffe Dekker Hofmeyr Inc
Legal Adviser to the Sponsor and Placing Agent in the UK Norton Rose Fulbright LLP
as to English law
Reporting Accountant in the UK PricewaterhouseCoopers LLP
Reporting Accountant in South Africa PricewaterhouseCoopers Inc.
Important Information
This announcement has been prepared by, and is the sole responsibility of, Schroder
European Real Estate Investment Trust PLC.
Numis Securities Limited is acting only for the Company in connection with the matters
described in this announcement and is not acting for or advising any other person, or
treating any other person as its client, in relation thereto and will not be responsible
for providing the regulatory protection afforded to clients of Numis Securities Limited
or advice to any other person in relation to the matters contained herein.
PSG Capital is acting only for the Company in connection with the matters described in
this announcement and is not acting for or advising any other person, or treating any
other person as its client, in relation thereto and will not be responsible for providing
the regulatory protection afforded to clients of PSG Capital or advice to any other
person in relation to the matters contained herein.
The Company is not and will not be registered under the US Investment Company Act of
1940, as amended. The Ordinary Shares have not been, nor will they be, registered under
the US Securities Act of 1933, as amended (the "Securities Act") or with any securities
regulatory authority of any state or other jurisdiction of the United States or under
the applicable securities laws of Australia, Canada, Japan or the Republic of Ireland.
Subject to certain exceptions, the Ordinary Shares may not be offered or sold in the
United States, Australia, Canada, Japan or the Republic of Ireland or to or for the
account or benefit of any national, resident or citizen of Australia, Canada, Japan or
the Republic of Ireland or any person located in the United States. The Placing and the
Offer for Subscription and the distribution of this announcement in other jurisdictions
may be restricted by law and the persons into whose possession this announcement comes
should inform themselves about, and observe, any such restrictions.
This announcement does not constitute, envisage or represent an offer to the public in
South Africa, as envisaged in the South African Companies Act. In South Africa, only
persons who are invited to participate in the Initial Placing and who fall within any
of the categories envisaged in section 96(1)(a) of the South African Companies Act or
who subscribe for a minimum amount of R1,000,000 (one million Rand) per single addressee
acting as principal, as contemplated in section 96(1)(b) of the South African Companies
Act, are entitled to participate in the Initial Placing.
Date: 03/12/2015 11:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.