Publication of Prospectus

RNS Number : 0162R

Ediston Property Inv Comp PLC

24 June 2015

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, OR INTO OR FROM CANADA, AUSTRALIA, JAPAN, NEW ZEALAND AND THE REPUBLIC OF SOUTH AFRICA.
This announcement is an advertisement and not a prospectus. This announcement does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities in Ediston Property Investment Company PLC (the "Company") or securities in any other entity, in any jurisdiction, including the United States, nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision whatsoever, in any jurisdiction. This announcement does not constitute a recommendation regarding any securities. Any investment decision must be made exclusively on the basis of the final prospectus published by the Company and any supplement thereto.
24 June 2015
EDISTON PROPERTY INVESTMENT COMPANY PLC Publication of prospectus in relation to an Initial Placing and Offer for Subscription and a 12 month Placing Programme
Further to its announcement of 9 June, the Company has published a prospectus in relation to its Initial Placing and Offer for Subscription and subsequent 12 month Placing Programme.  Under the Initial Placing and Offer, the Company is proposing to issue up to 40 million New Shares at a fixed price of 108.0p per New Share. Under the Placing Programme, which will be in place until 22 June 2016, the Company will issue up to 150 million New Shares less the number of New Shares issued under the Initial Placing and Offer. By way of information to Shareholders and potential investors, the Company's unaudited net asset value per share as at 19 June 2015 was 105.21p.  This unaudited net asset valuation per share has been calculated on the basis of the value of the Company's property portfolio as at 19 June 2015 (including the uplift in the valuation of the property in Edinburgh as a result of the letting announced by the Company earlier this week) and takes into account the costs of the recent acquisitions of properties at Coatbridge and Daventry.  For the avoidance of doubt, the unaudited net asset value per Ordinary Share of 105.21p includes the dividend of 0.4583p per Ordinary Share which has been declared in respect of the period from 1 May 2015 to 31 May 2015 and which will be paid on 30 June 2015 to shareholders on the register on the record date of 12 June 2015. Shareholders will receive a copy of the prospectus shortly.  Under the Initial Placing and Offer, existing Shareholders will be given priority over other applicants where applicable and as far as reasonably possible. These proposals are conditional on, inter alia, the approval of Shareholders at a general meeting of the Company to be held at 10.00 a.m. on 2 July 2015 at 16 Charlotte Square, Edinburgh EH2 4DF.
The timetable in respect of the Initial Placing and Offer is as follows:
Initial Placing and Offer opens	23 June 2015
Latest time and date for receipt of application forms under the Offer	11.00 a.m. on 7 July 2015
Latest time and date for commitments under the Initial Placing	3.00 p.m. on 8 July 2015
Results of the Initial Placing and Offer announced	9 July 2015
Admission and dealings in New Shares commence	8.00 a.m. on 10 July 2015

Further information
Copies of the Prospectus are available from the Company's website: www.epic-REIT.com and from the offices of Dickson Minto W.S., which is situated at Broadgate Tower, 20 Primrose Street, London EC2A 2EW. In addition, a copy of the Prospectus will shortly be submitted to the National Storage Mechanism and will be available for inspection at www.hemscott.com/nsm.do.
Enquiries Ediston Properties Limited           0131 225 5599 Danny O'Neill Calum Bruce Rankin Laing Canaccord Genuity Limited          020 7523 8000 Will Barnett Neil Brierley Dominic Waters Robbie Robertson Tavistock                                           020 7920 3150 James Whitmore Jeremy Carey
*Neither the NSM website nor the Company's website nor the content of any website accessible from hyperlinks on those websites (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of, this announcement. Important notices Canaccord Genuity Limited is authorised and regulated in the UK by the Financial Conduct Authority, is acting exclusively  for the Company and for no-one else in connection with the contents of this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to the respective clients of Canaccord Genuity Limited, or for affording advice in relation to the contents of this announcement or any matters referred to herein.  No person has been authorised to give any information or to make any representations other than those contained in this announcement and, if given or made, such information or representations must not be relied on as having been authorised by any member of the Company's group, Canaccord Genuity Limited or any of its respective directors, officers, employees or agents.  Subject to the Listing Rules and/or the Prospectus Rules and/or the Disclosure and Transparency Rules and/or the Takeover Code and/or FSMA, neither the delivery of this announcement nor any subscription or acquisition made under it shall, in any circumstances, create any implication that there has been no change in the affairs of the Company's group since the date of this announcement or that the information in it is correct as of any subsequent date. This announcement is for information only and does not constitute or form part of any offer or invitation to issue, acquire or dispose of any securities or investment advice in any jurisdiction.

 

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