Yew Grove REIT PLC Share premium account (2464G)
03 November 2018 - 3:09AM
UK Regulatory
TIDMYEW
RNS Number : 2464G
Yew Grove REIT PLC
02 November 2018
Yew Grove REIT plc
(the "Company" or "Yew Grove REIT")
Share premium account
As stated in the Company's admission document dated 5 June 2018
("Admission Document"), Yew Grove had resolved that, conditional
upon approval of the Court, the amount standing to the credit of
the share premium account of the Company on 29 June 2018 be reduced
and transferred to a special distributable reserve to facilitate
the payment of future dividends.
The Company is pleased to announce that, following the approval
of the Court and the subsequent registration of the Court order
with the Registrar of Companies on 2 November 2018, the reduction
has now become effective. Accordingly, the amount of EUR70,250,000
previously held in the share premium account has been cancelled and
will be transferred to a special distributable reserve and the
share premium account now stands at EUR4,000,000. The reduction
itself did not involve any distribution or repayment of capital or
share premium by the Company and will not reduce the underlying net
assets of the Company. While the Company is pleased to have the
transfer effective, in order to pay future dividends the Company
must prepare and file accounts with the CRO illustrating the effect
of the share premium transfer. The Company's financial yearend is
31 December 2018, so the preparation of the Company's financial
statements will facilitate a dividend payment early in 2019.
Thereafter, as set out in the Admission Document dividends are
expected to be paid quarterly.
Enquiries:
Yew Grove REIT plc Tel: +44 203 627 2720
Jonathan Laredo, Chief Executive Officer
Michael Gibbons, Chief Investment Officer
Charles Peach, Chief Financial Officer
Investec Bank plc
NOMAD & Broker: Tel: +44 (0) 20 7597
David Anderson, Darren Vickers 5970
ESM Advisor & Broker: Tel: +353 (1) 421 0000
Tommy Conway, Eoin Kennedy
Hume Brophy Tel: + 353 (1) 662
4712
Media Enquiries yewgrove@humebrophy.com
Edel Bach, Karin O'Conor
Notes to editors:
Yew Grove REIT raised gross proceeds of approximately EUR75
million in June 2018 to invest in a diversified portfolio of Irish
commercial property, with a particular focus on well-tenanted
commercial real estate assets comprising office and industrial
assets let to Irish government entities (and other state bodies),
IDA Ireland supported and other FDI companies, and larger
corporates, located in a geographic target market.
ENDS
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
MSCEAKFAEELPFFF
(END) Dow Jones Newswires
November 02, 2018 12:09 ET (16:09 GMT)
Yew Grove Reit (LSE:YEW)
Historical Stock Chart
From Apr 2024 to May 2024
Yew Grove Reit (LSE:YEW)
Historical Stock Chart
From May 2023 to May 2024