TIDMPRSR
RNS Number : 1019N
PRS REIT PLC (The)
27 September 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS NOT A PROSPECTUS AND IS FOR INFORMATIONAL
PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD
NOT BE CONSTRUED AS, ANY OFFER OR INVITATION TO SELL OR ISSUE, OR
ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY
SECURITIES OF THE PRS REIT PLC OR SECURITIES IN ANY OTHER ENTITY,
IN ANY JURISDICTION, NOR SHALL IT, OR ANY PART OF IT, OR THE FACT
OF ITS DISTRIBUTION, FORM THE BASIS OF, OR BE RELIED ON IN
CONNECTION WITH, ANY CONTRACT OR INVESTMENT DECISION WHATSOEVER, IN
ANY JURISDICTION. THIS ANNOUNCEMENT DOES NOT CONSTITUTE A
RECOMMENDATION REGARDING ANY SECURITIES.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
27 September 2021
The PRS REIT plc
(" The PRS REIT " or the " Company" )
PrimaryBid Offer
The PRS REIT ( LON : PRSR ), the Main Market listed closed-ended
real estate investment trust that invests in new build family homes
for the private rented sector, is pleased to announce, a
conditional offer for subscription via PrimaryBid (the "PrimaryBid
Offer") of new ordinary shares of 1 pence each in the Company (the
"PrimaryBid Shares") at an issue price of 103 pence per PrimaryBid
Share (the "Issue Price"), being the same price as the closing
share price on 24 September 2021. The Company is also conducting a
placing of new ordinary shares at the Issue Price (the "Placing
Shares) by way of an accelerated bookbuild process (the "Placing")
as announced earlier today (together with the PrimaryBid Offer, the
"Issue" and the Placing Shares together with the Primary Bid Shares
being the "New Ordinary Shares").
The PrimaryBid Offer and the Placing are conditional on the New
Ordinary Shares being admitted to trading on the London Stock
Exchange's Main Market ("Admission"). Application will be made to
the FCA and the London Stock Exchange for Admission. Admission is
expected to be take place at 8.00 a.m. on 4 October 2021 .
Completion of the PrimaryBid Offer is conditional upon completion
of the Placing.
The Company will use the net proceeds of the Issue to acquire
pipeline assets identified by the Investment Adviser. The pipeline
comprises of six sites, with the potential for 670 new homes with a
total estimated retail value of c.GBP6.5m per annum.
PrimaryBid Offer
The Company wishes to provide retail investors with an
opportunity to participate in the equity fundraise and is therefore
pleased to provide private and other investors the opportunity to
participate in the PrimaryBid Offer by applying exclusively through
the PrimaryBid mobile app available on the Apple App Store and
Google Play.
The PrimaryBid Offer, via the PrimaryBid mobile app, will be
open to individual investors following the release of this
announcement. The PrimaryBid Offer is expected to close at 5:00
p.m. on 28 September 2021 . The PrimaryBid Offer may close early if
it is oversubscribed.
The Company reserves the right to scale back any order at its
discretion. The Company and PrimaryBid reserve the right to reject
any application for subscription under the PrimaryBid Offer without
giving any reason for such rejection.
No commission is charged to investors on applications to
participate in the PrimaryBid Offer made through PrimaryBid. It is
vital to note that once an application for PrimaryBid Shares has
been made and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid or the procedure for
applications under the PrimaryBid Offer, visit www.PrimaryBid.com
or email PrimaryBid at enquiries@primarybid.com.
The PrimaryBid Shares will be issued free of all liens, charges
and encumbrances and will, when issued and fully paid, rank pari
passu in all respects with the Company's existing Ordinary
Shares.
The PRS REIT plc 020 3178 6378
Steve Smith, Non-executive Chairman c/o KTZ Communications
Sigma PRS Management Limited (the Investment
Adviser)
Graham Barnet, Mike McGill 0333 999 9926
PrimaryBid Limited enquiries@primarybid.com
Fahim Chowdhury / James Deal
KTZ Communications
Katie Tzouliadis, Dan Mahoney 020 3178 6378
Details of the PrimaryBid Offer
The Company wishes to provide retail investors with an
opportunity to participate in the equity fundraise and is therefore
pleased to provide retail and other interested investors the
opportunity to participate in the PrimaryBid Offer. The Company is
therefore making the PrimaryBid Offer available exclusively through
the PrimaryBid mobile app.
The PrimaryBid Offer is offered under the exemptions against the
need for a prospectus allowed under the Prospectus Regulation
Rules. As such, there is no need for publication of a prospectus
pursuant to the Prospectus Regulation Rules, or for approval of the
same by the Financial Conduct Authority in its capacity as the UK
Listing Authority. The PrimaryBid Offer is not being made into
United States, Australia, Canada, the Republic of South Africa or
Japan or any other jurisdiction where it would be unlawful to do
so.
There is a minimum subscription of GBP500 per investor under the
terms of the PrimaryBid Offer which is open to existing
shareholders and other investors subscribing via the PrimaryBid
mobile app.
For further details please refer to the PrimaryBid website at
www.PrimaryBid.com . The terms and conditions on which the Offer is
made, including the procedure for application and payment for
PrimaryBid Shares, is available to all persons who register with
PrimaryBid.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for the PrimaryBid Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on www.PrimaryBid.com
before making a decision to subscribe for the PrimaryBid Shares.
Investors should take independent advice from a person experienced
in advising on investment in securities such as the PrimaryBid
Shares if they are in any doubt.
END
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END
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(END) Dow Jones Newswires
September 27, 2021 09:19 ET (13:19 GMT)
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