PRS REIT PLC (The) Share Premium Account (4361V)
03 November 2017 - 1:45AM
UK Regulatory
TIDMPRSR
RNS Number : 4361V
PRS REIT PLC (The)
02 November 2017
2 November 2017
PRSR.L
The PRS REIT plc
(the "Company" or the "PRS REIT")
Share Premium Account
As stated in the Company's prospectus dated 4 May 2017
("Prospectus"), in order to increase the distributable reserves
available to facilitate the payment of future dividends, the
Company had resolved that, conditional upon First Admission and the
approval of the Court, the amount standing to the credit of the
share premium account of the Company immediately following
completion of the Issue be cancelled and transferred to a special
distributable reserve.
The Company is pleased to announce that, following the approval
of the Court on 1 November 2017 and the subsequent registration of
the Court order with the Registrar of Companies on 2 November 2017,
the cancellation has now become effective. Accordingly, the amount
of GBP242,500,000 previously held in the share premium account has
been cancelled and will be transferred to a special distributable
reserve.
Capitalised terms used but not defined in this announcement
shall have the same meaning as set out in the Prospectus.
For further information, please contact:
The PRS REIT plc Tel: +44 (0)20
3178 6378
Steve Smith, Non-executive Chairman
Sigma PRS Management Limited
Graham Barnet Graeme Hogg Tel: +44 (0)333
999 9926
N+1 Singer
James Maxwell, Liz Yong, Michael Tel: +44 (0)20
Taylor 7496 3000
Stifel Tel: +44 (0)20
7710 7600
Mark Young, Neil Winward, Tunga
Chigovanyika
KTZ Communications Tel: +44 (0)20
3178 6378
Katie Tzouliadis, Irene Bermont-Penn,
Emma Pearson
NOTES TO EDITORS
About The PRS REIT plc
(www.theprsreit.com)
The PRS REIT is a closed-ended real estate investment trust
established to invest in the Private Rented Sector. The Company
raised GBP250 million gross equity capital in an initial public
offering via a Placing Offer for Subscription and Intermediaries
Offer. The UK Government's Homes and Communities Agency supported
the launch of the PRS REIT with a direct investment of c. GBP25
million. The proceeds of the fundraising will be invested in
completed PRS sites and PRS development sites to achieve the
Company's objective of providing shareholders with an attractive
level of income together with the potential for capital and income
growth.
About Sigma PRS Management Limited
Sigma PRS Management Limited is a wholly owned subsidiary of AIM
quoted Sigma Capital Group plc and is the Company's Investment
Adviser. It will source investments and manage the assets of The
PRS REIT plc and advise the Company on a day-to-day basis in
accordance with the Company's Investment Policy.
About Sigma Capital Group plc ("Sigma")
www.sigmacapital.co.uk
Sigma is a private rented sector, residential development, and
urban regeneration specialist, with offices in Edinburgh,
Manchester and London. Sigma's principal focus is on the delivery
of large scale housing schemes for the private rented sector. It
has a well-established track record in assisting with
property-related regeneration projects in the public sector, acting
as a bridge between the public and private sectors. Its subsidiary,
Sigma PRS Management Limited, has been appointed as Investment
Adviser to The PRS REIT plc.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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