Business
Results of Initial Issue
Results of Initial Issue.
About this update from Supermarket Income Reit Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5914P\n Supermarket Income REIT PLC\n 20 October 2021\n \n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER OF SECURITIES IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION.\n \n \n This Announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this Announcement, this inside information is now considered to be in the public domain.\n \n \n 20 October 2021\n \n \n Supermarket Income REIT plc \n \n \n (the \"Company\", together with its subsidiaries the \"Group\")\n \n \n Results of Initial Issue\n \n \n The Board of Supermarket Income REIT plc is pleased to announce that it has successfully raised gross proceeds of £200 million through a significantly oversubscribed issue of 173,913,043 New Ordinary Shares at 115 pence per New Ordinary Share.\n \n \n \n \n \n After careful consideration of \n the strong level of support and quality of demand from investors in the Initial Issue, alongside the Investment Adviser's\n confidence in executing on the pipeline and an increase in the availability of attractive investment opportunities since the marketing roadshow began, the Board determined to increase the size of the Initial Issue from £100 million to £200 million. \n \n \n \n \n \n Notwithstanding the increase in the Initial Issue, investor demand substantially exceeded the maximum size of the Initial Issue and as such, a material scaling back exercise was undertaken.\n \n \n \n \n \n 152,433,662 and 21,479,381 New Ordinary Shares were taken up pursuant to the Placing and the Offer for Subscription respectively.\n \n \n \n \n \n Applications will be made to the London Stock Exchange for the \n 173,913,043 New Ordinary Shares to be admitted to trading on the Specialist Fund Segment. It is expected that Admission will become effective and that dealings for normal settlement in the New Ordinary S...