Issue of Equity

RNS Number : 5273S
Target Healthcare REIT Limited
24 September 2014
 



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, an offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities in Target Healthcare REIT Limited (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.

TARGET HEALTHCARE REIT LIMITED (the "Company")

24 SEPTEMBER 2014    

ISSUE OF NEW ORDINARY SHARES

On 5 September 2014 Target Healthcare REIT Limited published a prospectus  in connection with an initial placing and offer and 12 month placing programme of ordinary shares (the "Issue").

The Board of the Company is pleased to announce the first allotment under the Issue of 17,244,597 Ordinary Shares, raising gross proceeds of approximately £17.4 million, which will be used to fund the acquisition of certain assets as set out in the prospectus. Under the 12 month placing programme the Board expects to issue further ordinary shares to existing and new investors to fund further acquisition opportunities as they arise.

Application has been made to the UK Listing Authority for admission of 17,244,597 ordinary shares to the premium segment of the Official List and for such shares to be admitted to trading on the London Stock Exchange's main market for listed securities. This issue is conditional upon, inter alia, the admission of the ordinary shares to trading on the main market of the London Stock Exchange and to the Official List of the UK Listing Authority ("Admission").  It is expected that Admission will become effective and dealings in the ordinary shares will commence on the London Stock Exchange at 8.00 a.m. on 25 September 2014.

The total number of shares with voting rights in the Company immediately following Admission will be 112,466,226 ordinary shares.

All enquiries:

Kenneth MacKenzie

Target Advisers LLP

01786 406 581

Martin Cassels

R&H Fund Services Limited

 

0131 524 6140

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IOEQKQDDQBKDOCB
UK 100

Latest directors dealings