ANNOUNCEMENT
17 May
2016
SCHRODER GLOBAL REAL ESTATE
SECURITIES LIMITED (IN VOLUNTARY WINDING UP)
CORRECTION AND
FINALISATION OF ROLLOVER POOLS
As announced on 11 May 2016, the
resolutions put forward at the Second General Meeting of the
Company which took place on 10 May
2016 were approved by Shareholders and Patrick Joseph Brazzill and Stuart Gardner of Ernst & Young LLP,
Royal Chambers, St Julian’s Avenue,
St. Peter Port, Guernsey, GY1 4AF were appointed liquidators of the
Company. The Residual Net Asset Value per Share (being the
net asset value per Share minus the Retention and after providing
for the liabilities to be discharged out of the Voluntary Winding
Up Pool) as at the close of business on 10
May 2016 and announced on 11 May
2016 has subsequently been found to have been overstated by
the Administrator. The Residual Net Asset Value per Share has been
re-calculated as at the close of business on 10 May 2016 at 140.60
pence.
In accordance with the Scheme, the assets comprising the
Rollover Pools were revalued, in the case of:
- the SUTL GPS Rollover Pool by the SUTL Custodian as at 12.00
noon on 11 May 2016 at 140.38p per
Share. The issue price for the SUTL GPS Units is 63.24p and
Shareholders who have elected or deemed to have elected to receive
SUTL GPS Units will therefore receive 2.2197 SUTL GPS Units for
every Share held;
- the SISF GPS Rollover Pool by the SISF Custodian with a spot
exchange rate of 0.692929 as at 3.00
p.m. on 11 May 2016 at 140.80p
per Share. The issue price for the SISF GPS Shares is US$141.4731 (equivalent to £98.0308) and
Shareholders who have elected to receive SISF GPS Shares will
therefore receive 0.01436 SISF GPS Shares for every Share
held;
- the Cash Pool has been valued at 140.60
pence per Share.
Contract notes in respect of Rollover Shares issued under the
Scheme have been or will be despatched as soon as practicable.
Cheques are expected to be despatched and CREST payments made to
Shareholders in respect of cash elections as soon as
practicable.
Defined terms used in this announcement have the meanings given
in the circular published by the Company on 3 March 2016 unless the context otherwise
requires.
Enquiries:
Neil Turner
Schroder Real Estate Investment Management Limited
Tel :
+44 (0) 207 658 3017 or +44 (0) 207 658 3780
Franczeska Hanford
Northern Trust International Fund Administration Services
(Guernsey) Limited
Tel:
+44 (0) 1481 745918
Paul Fincham or Jonathan Becher
Panmure Gordon
Tel
:
+44 (0) 207 886 2500
END