RNS Number : 8247M
Real Estate Credit Inv. PCC Ltd
22 August 2011
Disclosure Transparency Rule 3.1.2 "Notification of transactions by persons discharging managerial responsibilities"; section 793 of the Companies Act 2006; and paragraph 26 of the Model Code.
London, 22 August 2011
Real Estate Credit Investments PCC Limited (the "Company")
The Company was advised on Friday, 19 August 2011 that Mr Thomas Chandos, Chairman of Real Estate Credit Investments PCC Limited,bought 36,000 Ordinary shares at a price of €1.12 per share and 20,000 Preference shares at a price of 97.75p per share on Friday, 19 August 2011 through his pension funds.
Mr Chandos' direct interest in the Company is now therefore 60,000 Ordinary shares and 50,000 Preference shares and 24,000 European Residual Income Investments Cell ("ERII Cell") shares, in aggregate representing 0.15% of the issued Ordinary shares, 0.10% of the issued Preference shares and 0.06% of the issued ERII Cell shares.
In addition, Mr Chandos' children in aggregate own 4,500 Ordinary shares, 5,625 Preference shares and 4,500 ERII Cell shares, representing 0.01% of the issued Ordinary shares, 0.01% of the issued Preference shares and 0.01% of the issued ERII Cell shares.
For further information please contact:
Natalie Withers Tel: +44 (0)20 7968 7340
Liberum Capital (Financial Adviser)
Chris Bowman / Tom Fyson / Richard Bootle Tel: +44 (0)20 3100 2000
M:Communications (Public Relations)
James Wallis Tel: +44 (0)20 7920 2329
Kate Ruck Keene Tel: +44 (0)20 7920 2322
About Real Estate Credit Investments PCC Limited:
Real Estate Credit Investments PCC Limited is a Guernsey-incorporated investment company listed on the London Stock Exchange. The Company's investment objective is to provide ordinary shareholders with a levered exposure to a portfolio of real estate credit investments and a diversified and amortising portfolio of residual income positions, and to provide preference shareholders with stable returns in the form of quarterly dividends. The Company intends to focus on secured residential and commercial debt in the UK and Western Europe by exploiting opportunities in publically traded securities and real estate loans. In making these investments the Company uses the expertise and knowledge of its investment manger, Cheyne Capital Management (UK) LLP. The Company has adopted a long term strategic approach to investing and focuses on identifying value.
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