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SCHRODER EUROPEAN REAL ESTATE INV TRUST PLC - IPO successfully raises 107.5 million

Release Date: 03/12/2015 11:00
Code(s): SCD     PDF:  
Wrap Text
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.

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