Ediston Property Inv Comp PLC Acquisition of Shares by the Investment Manager (0686N)
28 Enero 2021 - 01:00AM
UK Regulatory
TIDMEPIC
RNS Number : 0686N
Ediston Property Inv Comp PLC
28 January 2021
28 January 2021
Ediston Property Investment Company plc ('the Company')
(LEI: 213800JRL87EGX9TUI28)
Acquisition of Shares by the Investment Manager
Ediston, the Company's Investment Manager, has purchased 121,944
ordinary shares in the Company (Ordinary Shares).
As part of recent proposals, the Investment Manager committed to
invest 20 per cent of its quarterly management fee into Ordinary
Shares, following publication of the Company's unaudited quarterly
net asset value.
This arrangement, which is in place for three years and
commenced in the new financial year, is set out in the recent
annual report and accounts. It is part of the Investment Manager's
constructive proposals, described more fully in the report and
accounts, designed to align Shareholder and Investment Manager
interests in the future of the Company. The Ordinary Shares were
purchased at 67.75 pence per share on 26 January 2021.
The acquisition brings the total number of Ordinary Shares owned
by the Investment Manager, or by its management team ('Managerial
Holdings'), to 1.7 million shares as at 26 January 2021. The future
intention is to disclose the aggregate Managerial Holdings in the
interim and annual accounts, including any reinvestment of
dividends under these arrangements.
This announcement is made to notify the commencement of the
managerial arrangements, rather than as any statutory duty of
disclosure of interest in shares.
End
Enquiries
Will Barnett * Investec Bank plc 0207 597 5873
Calum Bruce * Ediston Properties Limited 0131 225 5599
Ruth Wright * JTC 0203 893 1011
Ben Robinson * Kaso Legg Communications 0203 995 6672
Stephanie
Ross * Kaso Legg Communications 0203 995 6676
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