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Results of Placing
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 OR JAPAN.
SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC
Results of placing
5 February 2016
Further to the announcement dated 2 February 2016 the Board of Schroder European
Real Estate Investment Trust PLC (the 'Company') is pleased to announce the
successful issue of further Ordinary Shares by way of a placing (the 'Placing')
pursuant to the terms and conditions of the Placing Programme established under
the prospectus issued by the Company dated 11 November 2015 (the ‘Prospectus’).
The Directors have exercised the right, in consultation with Numis and PSG
Capital, to increase the number of new Ordinary Shares offered pursuant to the
Placing. A total of 13,284,686 new Ordinary Shares (“New Shares”) have therefore
been placed, subject to Admission, by Numis Securities Limited ("Numis") and
PSG Capital Proprietary Limited (‘PSG Capital’) at a price of 104 pence per
share, raising gross proceeds of approximately £13.8 million. The New Shares
represent approximately 12.3% of the issued ordinary share capital of the Company
prior to the Placing.
The New Shares issued pursuant to the Placing will rank pari passu in all
respects with the existing Ordinary Shares (save for any dividends or other
distributions declared, made or paid on the Ordinary Shares by reference to a
record date prior to the allotment of the relevant New Shares).
Applications will be made to the UK Listing Authority and the London Stock
Exchange for the New Shares issued pursuant to the Placing 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 will be made to the JSE for the New Shares issued pursuant to the
Placing to be admitted to trading on the JSE's main board for listed securities.
It is expected that such admission will take place at commencement of trading on
Friday 12 February 2016 (or such later date as may be agreed between the Company,
Numis and PSG Capital).
Following Admission, the number of ordinary shares that the Company has in issue
will be 121,234,686. The total number of voting rights of the Company will be
121,234,686 and this 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
Disclosure and Transparency Rules.
Capitalised terms in this announcement shall (unless expressly stated otherwise)
have the meaning given to them in 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
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
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.
Date: 05/02/2016 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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