Business
ZDP Placing
ZDP Placing.
About this update from Conygar Investment Company Plc
[{"type":"text","content":"\n \nRNS Number : 5472V Conygar Investment Company PLC(The) 16 December 2013 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR THE UNITED STATES OF AMERICA OR TO US PERSONS.\nThis announcement is an advertisement and not a prospectus. Investors should not subscribe for or purchase any transferable securities referred to in this announcement except on the basis of information in the prospectus to be published by ZDPCo and the Company in due course in connection with the proposed admission of the ZDP Shares to the Official List (by way of a standard listing under Chapter 14 of the Listing Rules of the UK Listing Authority); and to the London Stock Exchange's main market for listed securities.\n \n \nFor immediate release\n16 December 2013\nTHE CONYGAR INVESTMENT COMPANY PLC\nPROPOSED ISSUE OF UP TO £30 MILLION ZERO DIVIDEND PREFERENCE SHARES AT A PRICE OF 100 PENCE PER SHARE\nThe Board of The Conygar Investment Company PLC (\"Conygar\" or \"Company\" or \"Group\") is pleased to announce that, based on considerable interest from investors, it proposes to issue up to 30 million zero dividend preference shares (\"ZDP Shares\") at 100 pence per share (\"Placing Price\") to raise gross proceeds of up to £30 million (\"Placing\"). \nCommitments for participation in the Placing have been received from Placees for £24.5 million at the Placing Price.\nLiberum Capital Limited (\"Liberum\") is acting as financial adviser and sole bookrunner in relation to the Placing.\nKey highlights: \n· A new wholly owned subsidiary of the Company, Conygar ZDP PLC (\"ZDPCo\"), has been formed to issue the ZDP Shares at the Placing Price\n· Holders of the ZDP Shares will be entitled to receive a capital entitlement of 130.7 pence (\"ZDP Capital Entitlement\") per ZDP Share, payable on the fifth anniversary of the admission of the ZDP Shares to trading on the London Stock Exchange's main market for listed securities (\"ZDP Repayment Date\")\n· The ZDP Shares will have a gross redemption yield at the Placing Price of 5.5 per cent. \n· The net proceeds of the Placing will be applied towards further acquisitions of investment properties and realising value from th...