Taliesin Property Fund Limited Issue of Equity (8865W)
30 April 2016 - 12:23AM
UK Regulatory
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RNS Number : 8865W
Taliesin Property Fund Limited
29 April 2016
Taliesin Property Fund Limited
Issue of Equity
Taliesin Property Fund Limited (the "Company") announces that on
29 April 2016 it issued in aggregate 356,515 new ordinary shares of
no par value ("New Ordinary Shares") in satisfaction of
EUR11,019,896 of the performance fee payable for the year ended 31
December 2015. Of these New Ordinary Shares 278,729 were issued to
JJ Investment Management Limited ("JJIM") and 77,786 to Taliesin
Management Limited ("TML"), the Company's joint investment
advisers. Pursuant to the terms of the Company's investment adviser
agreements with TML and JJIM, the New Ordinary Shares have been
issued at a price equal to the 20 day average share price prior to
31 December 2015, being EUR30.91. The aggregate performance fees in
relation to 2015 amounted to EUR11,070,875 and accordingly a
balance of EUR50,979 has been paid in cash to TML.
Following the issues of the New Ordinary Shares, TML will have a
total shareholding in the Company of 615,946 ordinary shares,
representing 12.73 per cent of the Company's voting rights. In
addition, Mark Smith, a director of the Company, who with his wife
holds the majority of the ordinary shares of TML, also has a
shareholding in the Company of 403,449 ordinary shares (including
the ordinary shares issued to JJIM which is wholly owned by Mark
Smith), representing 8.34 per cent of the Company's voting
rights.
Application has been made for the 356,515 New Ordinary Shares to
be admitted to trading on AIM and admission is expected to be
effective at 8.00 a.m. on 6 May 2016
Following the allotments of the new Ordinary Shares, with effect
from admission, the Company's issued share capital will consist of
4,840,187 ordinary shares, none of which are held in treasury.
Accordingly, the total number of voting rights in the Company will
be 4,840,187.
For further information, please contact:
Taliesin Property Fund Limited
Mark Smith, Director 01534 700 000
Stockdale Securities Limited
Alastair Moreton 020 7601 6118
This information is provided by RNS
The company news service from the London Stock Exchange
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