Issue of Equity
24 3월 2009 - 4:00PM
UK Regulatory
TIDMPHP
RNS Number : 3388P
Primary Health Properties PLC
24 March 2009
Primary Health Properties PLC
("Primary Health Properties" or "PHP" or the "Company")
Placing of new ordinary shares
Primary Health Properties, one of the UK's largest providers of modern primary
healthcare facilities, is pleased to announce it has raised approximately GBP3.7
million, before expenses,by way of a Placing (the "Placing") of 1,679,354 new
ordinary shares of 50 pence each inthe Company (the "Placing Shares"). The
Placing has been completed at a price of 220 pence per Placing Share (the
"Placing Price").
The Placing was taken up by institutional and other investors, including Nexus
Group Holdings Ltd, the parent company of Nexus PHP Management Limited and J O
Hambro Capital Management Limited who together are the joint managers of the
Company ("Joint Managers") as well as several Directors of the Company and
directors of the Joint Managers. The Placing has been underwritten by KBC Peel
Hunt Ltd ("KBC"). The net proceeds of the Placing will be used for general
working capital purposes.
Application has been made for the Placing Shares to be admitted to the Official
List of the UK Listing Authority and to trading on the main market for listed
securities of the London Stock Exchange Plc, respectively. Dealings in the
Placing Shares are expected to commence at 8:00a.m. on 24 March 2009
("Admission").
Commenting on the Placing, Harry Hyman, Managing Director, said:
"The Board is pleased to have secured additional capital from investors.
Investors continue to recognise the long term growth potential of Primary Health
Properties and its commitment to deliver attractive returns for shareholders.
PHP operates in one of the most resilient commercial property sectors where it
benefits from long lease lengths, strong and growing tenant demand, nil voids
and government-backed covenant strength.
PHP remains a leader in its niche market and benefits from secure cash flows and
a strong pipeline of potential deals. We have ambitions to substantially grow
the business in the future and believe there are buying opportunities in today's
market at historically low valuations. The Board looks forward to the future
with confidence."
- ends -
For further information please contact:
+------------------------------------+------------------------------------+
| Bell Pottinger Corporate and | Tel: 020 7861 3232 |
| Financial | |
| David Rydell / Victoria Geoghegan | |
| | |
| | |
+------------------------------------+------------------------------------+
| Primary Health Properties PLC | Tel: 020 7451 7050 |
| Harry Hyman | |
| Managing Director | |
| | |
+------------------------------------+------------------------------------+
| KBC Peel Hunt Ltd | Tel: 0207 418 8900 |
| Garry Levin | |
| Nicholas Marren | |
+------------------------------------+------------------------------------+
Details of the Placing
The Company is raising approximately GBP3.7 million by the issue of 1,679,354
Placing Shares being the maximum number of shares permitted to be issued under
the renewal of the directors' authority for the disapplication of pre emption
rights, which was passed on 17 June 2008. Pursuant to the terms of the placing
agreement between the Company and KBC, KBC has agreed to procure subscribers for
the Placing Shares at the Placing Price or to subscribe itself for any Placing
Shares for which a subscriber is not found.
The Placing Price represents a discount of approximately 13.7 per cent. to the
closing mid-market price of 255 pence per ordinary share on 23 March 2009, being
the last dealing day prior to release of this announcement. The Placing Shares
will represent approximately 4.8 per cent. of the enlarged issued ordinary share
capital of the Company immediately following Admission. Following Admission,
the Company will have a total of 35,266,448 ordinary shares of 50 pence each in
issue.
The issue of the Placing Shares is conditional inter alia upon Admission. It is
anticipated that dealings in the Placing Shares will commence at 8:00 a.m.
on 24 March 2009. The Placing is conditional, inter alia, upon Admission
becoming effective and the Placing Agreement becoming unconditional in all
respects by no later than 8:00 a.m. on 24 March 2009 or such later date (being
not later than 8.00 a.m. on 31 March 2009) as the Company and KBC may agree.
The Placing Shares will be issued credited as fully paid and will rank pari
passu in all respects with the ordinary shares in the Company, including the
right to receive all dividends and other distributions declared or paid thereon
following Admission except in respect of the 2008 interim dividend of 8.5 pence
per ordinary share announced on 27 February 2009.
Forward looking statements
This announcement may contain forward looking statements. By their nature,
forward looking statements involve risk and uncertainty because they relate to
future events and circumstances.
These statements reflect the knowledge and information at the time of the
release of this announcement. Nothing in this announcement should be construed
as a profit forecast.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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Primary Health Properties (LSE:PHP)
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Primary Health Properties (LSE:PHP)
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부터 7월(7) 2023 으로 7월(7) 2024
