THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN INVITATION OR OFFER TO SELL, OR THE SOLICITATION OF AN INVITIATION OR OFFER TO BUY, ANY SECURITY. NONE OF THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT SHALL BE SOLD, ISSUED, SUBSCRIBED FOR, PURCHASED, EXCHANGED OR TRANSFERRED IN ANY JURISDICTION IN CONTRAVENTION OF APPLICABLE LAW.
18 August 2016
NewRiver REIT plc
Admission of NewRiver REIT plc shares to the Premium Listing segment of the Official List
Further to the announcement issued by NewRiver Retail Limited ("NewRiver") on 17 August 2016 confirming the approval of the Scheme, the boards of NewRiver REIT plc ("NewRiver Holdco") and NewRiver are pleased to confirm that the Scheme is now effective and NewRiver Holdco is now the new parent company of the Group.
The Scheme became effective at 8.00 a.m. today and, accordingly, NewRiver Holdco's ordinary shares have today been admitted to the premium listing segment of the Official List of the UK Listing Authority. Admission to trading on the London Stock Exchange's Main Market also took effect at 8.00 a.m. today and trading in NewRiver's ordinary shares on AIM was cancelled simultaneously therewith.
Under the Scheme, Scheme Shareholders received one NewRiver Holdco Share for every share in NewRiver held by them at the Scheme Record Time. Therefore, the total issued ordinary share capital of NewRiver Holdco as at the date of this announcement is 238,588,536 ordinary shares of one pence each, of which 5,075,111 ordinary shares are held in treasury. The total number of voting rights in the share capital of the Company, excluding treasury shares, is therefore 233,513,425.
The new ISIN for the NewRiver Holdco Shares is GB00BD7XPJ64. NewRiver Holdco has the same TIDM as NewRiver, which will remain as "NRR".
CREST accounts will be credited with NewRiver Holdco Shares today and share certificates in respect of NewRiver Holdco Shares held in certificated form will be dispatched within 14 days of today.
Capitalised terms, unless otherwise defined in this announcement, have the meanings given to them in the circular published by NewRiver on 13 July 2016.
A copy of this announcement will be made available on NewRiver Holdco's website (www.nrr.co.uk (which is also the website for NewRiver)).
Paul Roy, Chairman of NewRiver, commented:
"Today's move from AIM to a premium listing on the Main Market of the LSE marks another important milestone in the history of NewRiver. Since NewRiver first listed on AIM in September 2009 with seed capital of just £25 million, the Company has made significant progress. The Company now has a market capitalisation of over £750 million and has become one of the leading retail and leisure focused value creating property investment businesses with £1.2 billion of assets under management.
I would like to take this opportunity to thank the entire team of NewRiver who with their hard work, passion and expertise, have made this possible. Also, none of this could have been achieved without the continued support of our shareholders who have consistently backed the NewRiver business model and enabled the Company to achieve such growth. We now begin the next exciting stage of NewRiver's journey to continue delivering capital growth and attractive income returns to our shareholders as a premium listed company on the LSE."
For more information, please contact:
NewRiver REIT plc David Lockhart, Chief Executive Mark Davies, Finance Director |
Tel: 020 3328 5800 |
Bell Pottinger David Rydell / David Bass / James Newman / Eve Kirmatzis |
Tel: 020 3772 2500 |
Liberum (Sponsor and Financial Adviser) Richard Crawley / Jamie Richards / Jonathan Wilkes-Green |
Tel: 020 3100 2000 |
Kinmont (Financial Adviser) Mat Thackery |
Tel: 020 7087 9100 |
About NewRiver REIT plc
NewRiver REIT plc (ticker: NRR) is a premium listed REIT on the London Stock Exchange. The Company is a specialist real estate investor, asset manager and developer focused solely on the UK retail and leisure sector.
Founded in 2009, NewRiver is one of the UK's largest owner/managers of convenience-led shopping centres with assets under management of £1.2 billion principally comprising 33 UK wide shopping centres together with further nationwide retail and leisure assets. The portfolio totals over 8 million sq. ft. with almost 2,000 occupiers, an annual footfall of 150 million and a retail occupancy rate of 97 per cent.
NewRiver is committed to delivering sustainable and growing returns for its shareholders.
For more information on NewRiver REIT plc, please visit www.nrr.co.uk
