EPIC.L Regulatory News (EPIC)

6 December 2017

EDISTON PROPERTY INVESTMENT COMPANY PLC (the "Company")

RESULTS OF SHARE ISSUE

Further to its announcement of 20 November, the Board of Ediston Property Investment Company PLC is very pleased to announce that the Company will be issuing new equity with a value of approximately £88.7 million, including £52.2 million in aggregate pursuant to its Share Issue, which is in excess of the minimum issue proceeds required to proceed with the acquisition of the new portfolio of four retail warehouse parks (the "Acquisition") from the Stadium Group. Accordingly, completion of the Acquisition is subject only to shareholder approval at the General Meeting of the Company which is being held at 9.30 a.m. tomorrow, after which another announcement will be made, and the admission of the New Shares to listing on 8 December 2017.

The Board intends to allot and issue, subject to the relevant resolutions being passed at the Company's General Meeting tomorrow and Initial Admission, 79,339,806 New Shares at the issue price of 111.75p per share. 25,983,235 New Shares will be issued pursuant to the Open Offer, 20,060,289 New Shares will be issued pursuant to the Initial Placing, 634,090 New Shares will be issued pursuant to the Offer for Subscription, including the Intermediaries Offer, and 32,662,192 New Shares will be issued to the Stadium Group. 

Application has been made for the New Shares to be issued pursuant to the Share Issue and to the Stadium Group to be admitted to trading on the Main Market of the London Stock Exchange plc and to listing on the premium segment of the Official List of the UK Listing Authority, in each case with effect from 8.00 a.m. on 8 December 2017.

The Board is pleased with the results of the Share Issue and is confident that all remaining conditions to the Acquisition will be satisfied very shortly.

Indicative timetable

An indicative timetable of principal events is as follows:

Event

Indicative Timing

General Meeting

9.30 a.m. on 7 December 2017

Results of the General Meeting announced

7 December 2017

Admission and dealings in New Shares commence and

completion of the Acquisition

8 a.m. on 8 December 2017

Each of the times and dates in the above expected timetable (other than in relation to the General Meeting) may be extended or brought forward without further notice. If any of the above times and/or dated change, the revised time(s) and/or date(s) will be notified to Shareholders by an announcement through a Regulatory Information Service provider.

Save as otherwise defined in this announcement or where the context otherwise requires, terms defined in the prospectus published by the Company on 20 November 2017 shall bear the same meaning in this announcement.

For further information please contact:

Ediston Properties Limited

Danny O'Neill

Calum Bruce

0131 225 5599

Canaccord Genuity Limited

Will Barnett

Robbie Robertson

020 7523 8000

Scott Harris UK Ltd

Jamie Blewitt

020 7653 0030

Notes:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service this information is now considered to be in the public domain.

The information in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. The material set forth herein is for information purposes only.

Canaccord Genuity Limited ("Canaccord") is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Canaccord is acting exclusively for the Company and for no-one else in relation to the Share Issue and the placing programme and will not regard any other person as its client. Apart from the responsibilities and liabilities, if any, which may be imposed on Canaccord by the Financial Services and Markets Act 2000 or the regulatory regime established thereunder, Canaccord will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for advising any other person in relation to the Share Issue, the placing programme, or any transaction contemplated in or by the prospectus to be published by the Company.

Dickson Minto W.S. is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Dickson Minto W.S. is acting exclusively for the Company and for no-one else in relation to the share issue and the placing programme and will not regard any other person as its client. Apart from the responsibilities and liabilities, if any, which may be imposed on Dickson Minto W.S. by the Financial Services and Markets Act 2000 or the regulatory regime established thereunder, Dickson Minto W.S. will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for advising any other person in relation to the share issue, the placing programme, or any transaction contemplated in or by the prospectus to be published by the Company.

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.