Business
Re: Admission to trading
Re: Admission to trading.
About this update from Alina Holdings Plc
[{"type":"text","content":"\n Local Shopping REIT (The) PLC\n02 May 2007\n\n2 May 2007\n\n\n THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION\n IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN\n\n\n\n The Local Shopping REIT plc\n Admission to trading on the London Stock Exchange\n\n\n\nKey points:\n\n• The Local Shopping REIT plc ('LSR'/'the Company'), a UK resident property \n investment company, announces that its Ordinary Shares have been admitted \n to the Official List of the UK Listing Authority and commenced trading\n on the London Stock Exchange.\n\n• The Company successfully completed an oversubscribed placing and offer for \n subscription, raising £160 million\n\n• The demand for the placing demonstrates both a strong appetite from \n investors for exposure to investing in local shopping assets in the United\n Kingdom offering the potential for income and capital growth and strong \n support for the Company's highly experienced management\n\n• The Company is self-managed. The Board of the Company comprises joint\n Chief Executives Mike Riley and Nick Gregory with Victoria Whitehouse as \n Finance Director. Grahame Whateley is non-executive Chairman and Andrew \n Cunningham (of Grainger Plc) and Nick Vetch (of The Big Yellow Group Plc) \n are non-executive directors\n\n• The Company aims to pay its shareholders dividends which it intends will \n provide an initial target annualised gross dividend yield of 4.75 per cent.\n on the 174 pence issue price\n\n• The Company expects this target dividend yield to grow by the UK Index of \n Consumer Prices from September 2008\n\n• As at the date of the prospectus, the Company had built up a portfolio\n valued at £207.7 million of property spread across 484 assets, with 1,409\n tenants producing an overall net rental income of £13.8 million per annum. \n The Company plans to invest a further £143 million into additional property \n by 30 September 2008\n\n• The Company's shares will trade under the name 'LSR'\n\n• JPMorgan Cazenove Limited has been appointed Financial Advisor and Broker \n to the Company.\n\nGrahame Whateley, Chairman of The Local Shopping REIT plc, said:\n\n'We are delighted to have successfully completed the Offer, enabling us to\nwelcome a wide range of institutional investors to the Company. We believe that\nwe are providing a unique oppor...