Business
Result of Placing
Result of Placing.
About this update from Sirius Real Estate Limited
[{"type":"text","content":"\n \nRNS Number : 3335I Sirius Real Estate Limited 20 March 2018 \n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014.\nTHIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANYOTHER JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION IS UNLAWFUL.\n20 March 2018\nSirius Real Estate Limited\n(\"Sirius Real Estate\", \"Sirius\" or the \"Company\")\nResults of Placing to raise approximately £35 million\n \nSirius Real Estate, a leading operator of branded business parks providing conventional space and flexible workspace in Germany, is pleased to announce that 58,333,333 ordinary shares (the \"Placing Shares\") have been placed with institutional and other investors and were placed at a price of 60 pence per share via an accelerated bookbuild (the \"Placing\"). Berenberg, Peel Hunt and PSG Capital have acted as joint bookrunners (\"Joint Bookrunners) in connection with the Placing. The Placing raised approximately £35 million before expenses. The Placing was significantly oversubscribed.\nThe Placing Price is 60 pence per share, a premium of 7.9% to the last reported adjusted NAV1 per share and a discount of 2.76% to the intra-day price at 1.15pm (being the time the placing price was agreed). \nApplication will be made for the admission of 58,333,333 ordinary shares to the London Stock Exchange Plc (\"LSE\"), to be admitted to listing on the premium segment of the Official List of the Financial Conduct Authority and to be listed on the main board of the Johannesburg Stock Exchange (\"JSE\") (\"Admission\"). It is expected that admission will become effective at commencement of trading on 28 March 2018, which reflects the earliest date at which the shares can be admitted to the main board of the JSE, and consequently the LSE, and that dealing in the Placing Shares will commence at that time. The shares shall rank pari passu with the existing issued ordinary shares of the Company. \nAndrew Coombs, Chief Executive of Sirius, said, \"We are delighted by the support for this Placing from both existing and new investors and we are confident that the new funds will be a key fa...