Glenveagh Properties PLC Founder Share Confirmation (2244U)
11 July 2018 - 2:22AM
UK Regulatory
TIDMGLV
RNS Number : 2244U
Glenveagh Properties PLC
10 July 2018
Glenveagh Properties PLC
Founder Share Confirmation
Glenveagh Properties PLC (the "Company") announces that
following the completion of the first Test Period (which ran from
01 March 2018 until 30 June 2018), the Board can now confirm that
the Founder Share Value will be satisfied by way of the conversion
of 18,993,162 Founder Shares into the same number of Ordinary
Shares of EUR0.001 each ("New Ordinary Shares"). All New Ordinary
Shares issued in respect of the conversion of Founder Shares will
be subject to a lock-up period, with 50% of the New Ordinary Shares
subject to a one-year lock-up period with the balance of shares
subject to a two year lock-up.
A further announcement will be made at the time of the admission
of the New Ordinary Shares to trading and listing, which is
expected on or around 9 August 2018. The New Ordinary Shares will
rank pari passu in all respects with the Company's existing
ordinary shares.
Further information regarding the Founder Shares is contained in
the Company's prospectus dated 10 October 2017 (the "Prospectus")
and the Company's 2017 Annual Report and Accounts, both of which
are available on the Company's website www.glenveagh.ie.
Defined terms used in this announcement shall, unless otherwise
defined herein, have the meaning ascribed to them in the
Prospectus.
For further information please contact:
Investors: Media:
Glenveagh Properties Gordon MRM
PLC Ray Gordon 087 241
Justin Bickle (CEO) 7373
Michael Rice (CFO) David Clerkin 087
investors@glenveagh.ie 830 1779
glenveagh@gordonmrm.ie
------------------------
Note to Editors
Glenveagh Properties PLC develops and builds sustainable
starter, mid-size and executive homes (both houses and apartments)
in Ireland. The Group comprises two divisions, Glenveagh Homes
(Homes) and Glenveagh Living (Living). We strive to found, create
and contribute to communities by consistently delivering
exceptional homes and value for money, via our two operating
divisions.
Glenveagh Homes offers a platform that combines conveniently
located residential development sites in Ireland (mainly in the
Greater Dublin Area), with an award-winning developer and a
sector-leading senior management team. In addition to developing
our own land, through its Partnerships arm, Glenveagh Living works
with strategic holders of development land in the public sector to
facilitate the development of mixed-tenure communities and through
its PRS arm provides private rental communities for institutional
investors. www.glenveagh.ie
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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