13 Sep 2013 07:00
FOR IMMEDIATE RELEASE
13 September 2013
REDEFINE INTERNATIONAL P.L.C.
("Redefine International" or the "Company")
REPAYMENT OF CAPITAL INSTRUMENT
Redefine International is pleased to announce that its £13 million 6% convertible loan instrument issued to Aviva Commercial Finance Limited ("Aviva") in September 2010 (the "Capital Instrument"), is today being settled in full in accordance with its terms by the issue of 36,587,873 new ordinary shares of 8 pence each in the Company (the "Settlement Shares") to Aviva at an issue price of 41.925 pence per share.
An application has been made for the Settlement Shares, which will rank pari passu in all respects with the Company's existing ordinary shares of 8 pence each ("Ordinary Shares") in issue, to be admitted to the Premium Segment of the Official List of the United Kingdom Listing Authority and to trading on the London Stock Exchange's Main Market for listed securities ("Admission"). It is expected that Admission will occur on 17 September 2013.
The Company has been notified that Aviva has exercised its put option in respect of these Settlement Shares to Redefine Properties Limited, effective on Admission. Following the put option becoming effective, Redefine Properties Limited will have a direct shareholding in the Company of 36,587,873 Ordinary Shares, representing 3.59% of the issued share capital of the Company on Admission. Redefine Properties Limited currently holds 47.83% of the issued share capital of Redefine Properties International Limited, which in turn holds 61.83% of the issued share capital in the Company.
Following Admission, the total number of voting rights in the Company will be 1,057,157,691. No Ordinary Shares are held in treasury. The figure of 1,057,157,691 Ordinary Shares may then be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the UK Financial Conduct Authority's Disclosure and Transparency Rules.
Further enquiries:
Redefine International Property Management Limited Investment Adviser |
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Michael Watters, Stephen Oakenfull | Tel: +44 (0) 20 7811 0100 |
FTI Consulting Public Relations Adviser |
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Stephanie Highett, Dido Laurimore, Faye Walters | Tel: +44 (0) 20 7831 3113 |