Redefine International PLC Results of Dividend Election (1147I)
15 June 2017 - 4:00PM
UK Regulatory
TIDMRDI
RNS Number : 1147I
Redefine International PLC
15 June 2017
REDEFINE INTERNATIONAL P.L.C.
("Redefine International" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
RESULTS OF DIVIDEND ELECTION
Redefine International shareholders are referred to the
announcement released on 28 April 2017 regarding the election being
offered to Redefine International shareholders to receive the
interim dividend of 1.3 pence per share in respect of the six
months ended 28 February 2017 as either a cash dividend or a scrip
dividend by way of an issue of new Redefine International shares
(of the same class as existing shares) credited as fully paid up
("Scrip Dividend").
The Company is pleased to announce that election forms for
522,190,735 ordinary shares of 8 pence each in the Company
("Ordinary Shares") have been received, representing a 28.8 per
cent take up by shareholders, for which 16,320,324 Scrip Dividend
shares are to be issued, being 0.9 per cent of the current issued
share capital of the Company.
An application will be made for the Scrip Dividend shares, which
will rank pari passu in all respects with the Company's existing
issued Ordinary Shares, to be admitted to the Premium Segment of
the Official List of the United Kingdom Listing Authority, to
trading on the London Stock Exchange's Main Market for listed
securities and to be listed on the JSE ("Admission"). It is
expected that Admission will occur on Monday, 26 June 2017.
This announcement is being made ahead of the proposed schedule,
prior to Admission.
Following Admission, the total number of voting rights will be
1,828,060,146 ("ISC"). No Ordinary Shares are held in treasury. The
figure of 1,828,060,146 Ordinary Shares may then be used by
shareholders in the Company as the denominator for the calculations
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 under the UK Financial Conduct Authority's Disclosure
and Transparency Rules.
The following Directors and Persons Closely Associated have
informed the Company that they have elected to take up the Scrip
Dividend Shares:
Scrip dividend
shares
Party allotted % of ISC New shareholding % of ISC
------------------ --------------- --------- ----------------- ---------
Adrian Horsburgh 1,842 0.000 62,189 0.003
Bernard Nackan 619 0.000 20,911 0.001
------------------ --------------- --------- ----------------- ---------
For further information:
Redefine International P.L.C.
Mike Watters, Stephen Oakenfull Tel: +44 (0) 20
7811 0100
FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Ellie Tel: +44 (0) 20
Sweeney 3727 1000
Instinctif Partners
SA Public Relations Adviser
Frederic Cornet, Lizelle du Toit Tel: +27 (0) 11
447 3030
Java Capital
JSE Sponsor Tel: +27 (0) 11
722 3050
Note to editors:
About Redefine International
Redefine International is an income focused FTSE 250 UK Real
Estate Investment Trust (UK-REIT) committed to delivering superior
distributions to its shareholders throughout the property
cycle.
The Company's income driven total returns are underpinned by a
diversified portfolio, together with an efficient capital
structure. The continued transformation of both the corporate
structure and asset base offer a solid foundation to drive further
value. At 28 February 2017, the diversified portfolio,
independently valued at GBP1.5 billion, is focused in Europe's two
strongest economies, being the United Kingdom and Germany. The
portfolio is weighted towards well located properties across a
range of sectors, including retail, offices, distribution and
hotels, which benefit from strong demand and from which they can
capture income and value growth by attracting high calibre
occupiers on long leases. The Company's investment philosophy is to
effectively allocate recycled capital from mature assets into
sectors and locations with strong occupier fundamentals and
individual assets with realisable upside.
The secure income stream is supported by a diversified portfolio
and tenant base, with a WAULT of 7.5 years complemented by an
average debt maturity of 6.8 years of which 97% of interest costs
are either fixed or capped. The Company is focused on all aspects
impacting shareholder distributions and boasts one of the lowest
cost ratios in the industry whilst continuously driving lower cost
of debt.
Redefine International holds a primary listing on the London
Stock Exchange and a secondary listing on the Johannesburg Stock
Exchange and is included within the FTSE 250, EPRA and GPR
indices.
For more information on Redefine International, please refer to
the Company's website www.redefineinternational.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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