Conversion of Loan Stock
NewRiver Retail Limited
("NewRiver" or the "Company")
Conversion of Loan Stock
The Company has received notice to convert £1,500,000 of its 5.85 per cent. B Convertible Loan Stock 2015 ("B CULS") into ordinary shares of no par value ("Ordinary Shares") from State Street Nominees Limited. At a conversion price of 259 pence per Ordinary Share this will result in the issue of 579,151 Ordinary Shares. Accordingly, the Company has applied to the London Stock Exchange for the 579,151 Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00am on 18 February 2014. The Ordinary Shares will rank pari passu with the existing ordinary shares in the capital of the Company then in issue.
Following the conversion, there will be 67,303,035 ordinary shares of no par value in issue, excluding treasury shares. This number may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.
Following the conversion, there will be £6,500,000 nominal value of B CULS outstanding.
- Ends -
For further information
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NewRiver Retail Limited David Lockhart, Chief Executive Mark Davies, Finance Director
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Tel: 020 3328 5800 |
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Bell Pottinger David Rydell/Guy Scarborough/Charlotte Offredi
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Tel: 020 7861 3232 |
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Liberum Shane Le Prevost/Tim Graham/Simon Atkinson |
Tel: 020 3100 2000 |
About NewRiver
NewRiver Retail is a specialist Aim-listed REIT focused solely on the UK food and value retail market and is fast-becoming the leading value-creating property investment platform in the sector.
The management team, with over 100 years combined experience in the UK commercial property market, actively engages with retailers, stakeholders and consumers. NewRiver Retail is the UK's third largest Shopping Centre owner/manager by number with total assets under management of £600 million principally comprising 25 UK wide shopping centres. The portfolio has in excess of 1,100 occupiers, a total of 4.6 million square feet, total annual footfall of over 112 million and an occupancy rate of 96 per cent.
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. Founded in 2009, NewRiver has become the UK's leading retail-focused property investment business. The Company's shares were admitted to London's AIM in September of the same year.
For more information on NewRiver, please visit www.nrr.co.uk
This information is provided by RNS
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