Update re Additional Placing

RNS Number : 6496H

NewRiver Retail Limited

24 June 2013

 



 NewRiver Retail Limited

("NewRiver" or "the Company")

Update re Additional Placing

NewRiver Retail Limited (AIM and CISX: NRR), the UK REIT specialising in value-creating retail property investment and active asset management, announces that further to the announcement made on 19 June 2013 in relation to the proposed £67 million Placing, it has now closed the Additional Placing. The demand for the Additional Placing Shares was significantly oversubscribed and the Company closed the Additional Placing at 5:00pm on 21 June 2013.

The 32,682,927 new Ordinary Shares to be issued pursuant to the Placing will be admitted to trading on AIM and to the CISX to be admitted to listing on the Daily Official List of the CISX on 11 July 2013.

The Placing is conditional, inter alia, on the passing of the Resolutions at the Extraordinary General Meeting by the existing Shareholders and the waiver of pre-emption rights contained in the Articles.

Unless otherwise defined herein, all capitalised terms used in this announcement shall have the same meanings as those defined in the announcement made by the Company on 19 June 2013.

-Ends-

For further information

NewRiver Retail Limited  David Lockhart, Chief Executive Mark Davies, Finance Director	Tel: [phone]
Pelham Bell Pottinger David Rydell/Guy Scarborough/Charlotte Offredi	Tel: [phone]
Cenkos Securities Ian Soanes/Max Hartley	Tel: [phone]
Liberum Capital Shane Le Prevost/Tim Graham	Tel: [phone]

About NewRiver

NewRiver Retail Limited is a REIT status specialist real estate investor and asset manager focusing solely on the UK retailing sector with a particular focus on food and value retailing. The management team, with over 100 years combined experience in the UK commercial property market, actively engages with retailers, stakeholders and consumers. With assets under management of £400 million comprising 23 UK wide shopping centres, 16 high street retail units and two supermarkets, the portfolio has 732 occupiers, a total of 2.8 million square feet, total annual footfall of over 65 million and an occupancy rate on its retail estate of 94%. The Company's activities include active and entrepreneurial asset management and risk controlled development, utilising both its own balance sheet and co-investment joint venture structures. It is NewRiver's intention to become one of the leading sector-focused value-creating property investment businesses operating in the UK retail sector. The Company was founded in 2009 and its shares were admitted to London's AIM and Channel Islands Stock Exchange (CISX) in September of the same year. For more information on NewRiver, please visit www.nrr.co.uk

 

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