TIDMTHRL
RNS Number : 3374L
Target Healthcare REIT PLC
10 September 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
INCLUDING, WITHOUT LIMITATION, THE UNITED STATES, ANY MEMBER STATE
OF THE EUROPEAN ECONOMIC AREA (OTHER THAN TO PROFESSIONAL INVESTORS
IN THE REPUBLIC OF IRELAND OR THE NETHERLANDS), CANADA, AUSTRALIA,
THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND AND JAPAN. THIS
ANNOUNCEMENT HAS BEEN DETERMINED TO CONTAIN INSIDE INFORMATION FOR
THE PURPOSES OF THE UK VERSION OF MARKET ABUSE REGULATION (EU) NO.
596/2014, WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018, AS AMED. UPON PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC DOMAIN.
10 September 2021
TARGET HEALTHCARE REIT PLC
("Target" or the "Company", together with its subsidiaries, the
"Group")
Results of Issue
The Board of the Company is pleased to announce that it has
successfully raised gross proceeds of GBP125 million through a
significantly oversubscribed issue of new ordinary shares ("New
Shares") at 115 pence per New Share (the "Issue").
After careful consideration of the exceptionally strong level of
support and quality of demand from investors in the Issue,
alongside the pipeline of attractive investment properties
available, the Board determined to increase the size of the Issue
from GBP100 million to GBP125 million. Notwithstanding this
increase, investor demand substantially exceeded the maximum size
of the Issue and, accordingly, a scaling back exercise was
undertaken.
Applications will be made in respect of the 108,695,652 New
Shares to be admitted to the premium segment of the Official List
and to trading on the London Stock Exchange's Main Market for
listed securities pursuant to the Issue ("Admission"). It is
expected that Admission will become effective and dealings in the
New Shares will commence on 14 September 2021. When issued, the New
Shares will rank pari passu with the existing ordinary shares ,
including the right to receive all future dividends and
distributions declared, made or paid after Admission.
The New Shares will be issued in registered form and may be held
in uncertificated form. The New Shares allocated will be issued
through the CREST system unless otherwise stated. The New Shares
will be eligible for settlement through CREST with effect from
Admission.
Following Admission, the Company will have 620,237,346 ordinary
shares in issue. The total number of voting rights of the Company
will be 620,237,346 and this figure may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
This Issue has been conducted in accordance with the terms and
conditions in Part 11 of the Prospectus published on 12 February
2021, as supplemented by the supplementary prospectus published by
the Company on 27 May 2021 (the "Prospectus") (the "Terms and
Conditions"). For the avoidance of doubt, 95,945,946 New Shares
(being the maximum remaining number of ordinary shares which can be
issued by the Company pursuant to the placing programme under the
Prospectus) have been issued pursuant to the Prospectus and
12,749,706 New Shares have been issued pursuant to the general
share issuance authorities that were granted to the Board at the
Company's annual general meeting held on 2 December 2020 (the
"Excess Shares"). The Terms and Conditions shall apply to the issue
of such Excess Shares as if they were being issued pursuant to the
Prospectus.
Malcolm Naish, Chairman of the Company, said:
"We are extremely grateful to both our existing and new
shareholders for their support with this considerably
oversubscribed equity raise. Our conviction in both the quality of
our existing portfolio, which is characterised by its inflation
linked, long-income characteristics, as well as the compelling
investment opportunity in the part of the care home market that we
are focused on, is steadfast. We look forward to deploying the
proceeds into high quality, fit for purpose homes with strong
sustainability credentials, further diversifying the portfolio
whilst simultaneously playing a role in meeting a key societal
challenge."
Dealing codes for the Ordinary Shares and the New Shares
Ticker: THRL
ISIN for the New Shares: GB00BJGTLF51
SEDOL for the New Shares: BJGTLF5
The Company's LEI: 213800RXPY9WULUSBC04
Enquiries:
Target Fund Managers Limited (Investment Manager
to the Company)
+44 1786 845
Kenneth MacKenzie 912
+44 1786 845
Gordon Bland 912
Stifel Nicolaus Europe
Limited
+44 20 7710
Mark Young mark.young@stifel.com 7600
+44 20 7710
Mark Bloomfield mark.bloomfield@stifel.com 7600
+44 20 7710
Rajpal Padam rajpal.padam@stifel.com 7600
+44 20 7710
Jack McAlpine jack.mcalpine@stifel.com 7600
FTI Consulting
+44 20 3727
Dido Laurimore TargetHealthcare@fticonsulting.com 1000
Claire Turvey
Richard Gotla
Terms used and not defined in this announcement bear the meaning
given to them in the Proposed Issue of Equity announcement
published by the Company on 26 August 2021 and in the
Prospectus.
Important Information
The person responsible for arranging for the release of this
announcement on behalf of Target Healthcare REIT plc is Kenneth
MacKenzie, Founder and Chief Executive of Target Fund Managers.
The information contained in this announcement is given at the
date of its publication (unless otherwise marked) and is subject to
updating, revision and amendment from time to time.
This announcement does not contain or constitute an offer for
sale or the solicitation of an offer to purchase securities in the
United States. The New Shares have not been and will not be
registered under the US Securities Act of 1933, as amended (the
"Securities Act") or under any securities laws of any state or
other jurisdiction of the United States and may not be offered,
sold, taken up, exercised, resold, renounced, transferred or
delivered, directly or indirectly, within the United States except
pursuant to an applicable exemption from or in a transaction not
subject to the registration requirements of the Securities Act and
in compliance with any applicable securities laws of any state or
other jurisdiction of the United States. There will be no public
offer of the New Shares in the United States.
This announcement is for information purposes only and is not
intended to and does not constitute or form part of any offer or
invitation to purchase or subscribe for, or any solicitation to
purchase or subscribe for, any securities in any jurisdiction. No
offer or invitation to purchase or subscribe for, or any
solicitation to purchase or subscribe for, any securities will be
made in any jurisdiction in which such an offer or solicitation is
unlawful. The information contained in this announcement is not for
release, publication or distribution to persons in the United
States, any member state of the EEA (other than to professional
investors in the Republic of Ireland or the Netherlands) Canada,
Australia, the Republic of South Africa, New Zealand or Japan, and
should not be distributed, forwarded to or transmitted in or into
any jurisdiction, where to do so might constitute a violation of
local securities laws or regulations.
Stifel, which is authorised and regulated in the United Kingdom
by the Financial Conduct Authority, is acting solely for the
Company and no-one else in connection with the transactions and
arrangements described in this announcement and will not regard any
other person (whether or not a recipient of this announcement) as a
client in relation to the transactions and arrangements described
in this announcement. Stifel is not responsible to anyone other
than the Company for providing the protections afforded to clients
of Stifel or for providing advice in connection with the contents
of this announcement or the transactions and arrangements described
herein.
Dickson Minto, which is authorised and regulated by the
Financial Conduct Authority, is acting only for the Company in
connection with the matters described in this announcement and is
not acting for or advising any other person, or treating any other
person as its client, in relation thereto and will not be
responsible for providing the regulatory protection afforded to
clients of DM or advice to any other person in relation to the
matters contained herein.
This announcement may include statements that are, or may be
deemed to be, "forward-looking statements". These forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms "believes", "estimates",
"anticipates", "expects", "intends", "may", "will" or "should" or,
in each case, their negative or other variations or comparable
terminology. All statements other than statements of historical
facts included in this announcement, including, without limitation,
those regarding the Company's financial position, strategy, plans,
proposed acquisitions and objectives, are forward-looking
statements.
Forward-looking statements are subject to risks and
uncertainties and, accordingly, the Company's actual future
financial results and operational performance may differ materially
from the results and performance expressed in, or implied by, the
statements. These forward-looking statements speak only as at the
date of this announcement and cannot be relied upon as a guide to
future performance. The Company, the Investment Manager, DM and
Stifel expressly disclaim any obligation or undertaking to update
or revise any forward-looking statements contained herein to
reflect actual results or any change in the assumptions, conditions
or circumstances on which any such statements are based unless
required to do so by the Financial Services and Markets Act 2000,
the Prospectus Regulation Rules of the Financial Conduct Authority
or other applicable laws, regulations or rules.
None of the Company, the Investment Manager, DM or Stifel, or
any of their respective affiliates, accepts any responsibility or
liability whatsoever for or makes any representation or warranty,
express or implied, as to this announcement, including the truth,
accuracy or completeness of the information in this announcement
(or whether any information has been omitted from the announcement)
or any other information relating to the Company or associated
companies, whether written, oral or in a visual or electronic form,
and howsoever transmitted or made available or for any loss
howsoever arising from any use of the announcement or its contents
or otherwise arising in connection therewith. The Company, the
Investment Manager, DM and Stifel, and their respective affiliates,
accordingly disclaim all and any liability whether arising in tort,
contract or otherwise which they might otherwise have in respect of
this announcement or its contents or otherwise arising in
connection therewith.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IOEFLFSAARIAIIL
(END) Dow Jones Newswires
September 10, 2021 02:00 ET (06:00 GMT)
Target Healthcare Reit (LSE:THRL)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Target Healthcare Reit (LSE:THRL)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024