TIDMERET

RNS Number : 9837K

European Real Estate Inv Tst Ltd

01 July 2014

EUROPEAN REAL ESTATE INVESTMENT TRUST LIMITED ("the Company")

1 July 2014

Return of capital

Further to the approval by the Company's shareholders of the winding down proposals (as described in the Circular to shareholders on 12 July 2011) the Company today announces that it will return approximately GBP 6.4 million (equivalent to 19.3 pence per share) on 10 July 2014 (the "Redemption Date") by way of a compulsory partial redemption of shares (the "Third Redemption").

The Third Redemption will be effected at the estimated unaudited Redemption Net Asset Value per share as at 30 June 2014 of 182 pence per share. The Redemption will be affected pro rata to holdings of shares on the register at the close of business on the Redemption Record Date, being 10 July 2014 . On this basis 10.6 per cent. of the Company's issued share capital would be redeemed on the Redemption Date.

Fractions of shares will not be redeemed and so the number of shares to be redeemed for each shareholder will be rounded down to the nearest whole number of shares.

The amount to be applied to the partial redemption of shares comprises monies from the Company's existing cash balances. As at today's date, the Company has 33,163,276 shares in issue of which none are held in treasury.

All shares that are redeemed will be cancelled with effect from the relevant Redemption Date. Accordingly, once redeemed, shares will be incapable of transfer.

The Shares will all be disabled in CREST after close of business on the Redemption Date and the existing ISIN number GG00B7GHJ063 (the "Old ISIN") will expire.

The new ISIN number GG00BNJZV473 (the "New ISIN") in respect of the remaining Shares which have not been redeemed will be enabled and available for transactions from and including 11 July 2014. Up to and including the Redemption Date, Shares will be traded under the Old ISIN and as such, a purchaser of such Shares would have a market claim for a proportion of the redemption proceeds. CREST will automatically transform any open transactions as at the Redemption Date into the New ISIN.

Expected timetable for redemption:

   Record Date, Redemption date                                 10 July  2014

and expiry of old ISIN number

   New ISIN number enabled                                          11 July  2014 
   Redemption monies paid (expected)                     uncertificated holdings: week of 14 July 2014

certificated holdings: week of 14 July 2014

Enquiries:

Computershare Investor Services PLC

   Shareholder Helpline                                    Phone: +44 (0) 870 7074040

Praxis Fund Services Limited

   Shona Darling                                                   Phone: +44(0) 1481 755528

Cenkos Securities plc

   Will Rogers                                                        Phone: +44 (0) 20 7397 1920 
   Sapna Shah                                                        Phone: +44 (0) 20 7397 1922

Schroder Property Investment Management Ltd

   Duncan Owen / Tony Smedley                   Phone: +44(0) 20 7658 6000

This information is provided by RNS

The company news service from the London Stock Exchange

END

PFUFMMFTMBTJBLI

European Real E (LSE:ERET)
Historical Stock Chart
Von Dez 2024 bis Jan 2025 Click Here for more European Real E Charts.
European Real E (LSE:ERET)
Historical Stock Chart
Von Jan 2024 bis Jan 2025 Click Here for more European Real E Charts.