Business
Result of placing and migration of Ordinary Shares
Result of placing and migration of Ordinary Shares.
About this update from Social Housing Reit Plc
[{"type":"text","content":"\n \nRNS Number : 6825I Triple Point Social Housing REIT 23 March 2018 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR TO US PERSONS. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\n \nTHIS ANNOUNCEMENT HAS BEEN DETERMINED TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014.\n \n 23 March 2018\nTriple Point Social Housing REIT plc\n(the \"Company\" or, together with its subsidiaries, the \"Group\")\nRESULT OF PLACING, OPEN OFFER AND OFFER FOR SUBSCRIPTION OF C SHARES\nMIGRATION OF ORDINARY SHARES TO THE PREMIUM SEGMENT OF THE OFFICIAL LIST\nThe Board of Triple Point Social Housing REIT plc (ticker: SOHO) announces the result of the Placing, Open Offer and Offer for Subscription of C shares in the Company (being a new class of convertible, non-voting preference shares) (the \"C Shares\") at a price of 100p per share (the \"Issue Price\") (the \"Issue\").\n \nA total of 47,500,000 C Shares will be issued raising Gross Proceeds of £47.5 million, of which 33,005,715 C Shares will be issued pursuant to the Open Offer, 815,150 C Shares will be issued pursuant to the Offer for Subscription and 13,679,135 C Shares will be issued under the Placing.\n \nThe Net Proceeds of the Issue will be used by the Company to capitalise on investment opportunities identified by Triple Point Investment Management LLP (the \"Delegated Investment Manager\") in the Supported Housing sector. The Delegated Investment Manager expects to be able to deploy the Net Proceeds of the Issue such that the C Shares convert into Ordinary Shares by 31 December 2018.\n \nThe Company has also received confirmation from the UK Financial Conduct Authority (the \"FCA\") that its ordinary shares (\"Ordinary Shares\") will be admitted to the premium segment of the Official List of the UK Listing Authority (the \"Migration\") and will move their trading venue to the premium segment of the Main Market of the London Stock Exchange. \n \nCommenting on the result of the Issue, Chris Phillips, Chairman of Triple Point Social...