08:24 Wed 12 Mar 2014
Inland ZDP PLC - Issue of 934,900 new ZDP Shares
IMPORTANT INFORMATION
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE OR ACQUIRE ANY TRANSFERABLE SECURITIES NOR SHALL IT FORM THE BASIS OF ANY CONTRACT FOR THE SALE OF ANY INTEREST IN A TRANSFERABLE SECURITY OR A SOLICITATION, INDUCEMENT, ADVICE OR RECOMMENDATION TO EFFECT ANY TRANSACTION OF ANY KIND WHATSOEVER. IT IS NOT AN OFFER TO BUY, SUBSCRIBE OR ACQUIRE ANY SECURITIES IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO
Press release
Issue of 934,900 new ZDP Shares
For release on
Issue of ZDP Shares and use of proceeds
The gross proceeds of the Issue are
Rights of ZDP Shares
A ZDP Share is not an equity share and does not entitle the holder to any dividends, but it offers the holder a capital payment on a fixed date at a higher price than the initial subscription price, giving the holder a fixed return. The amount due to holders of ZDP Shares ("ZDP Shareholders"), which accrues over time, is accounted for as a liability rather than as share capital. ZDP Shareholders will receive no dividends, but are entitled to receive
The new ZDP Shares will be identical in all respects to the zero dividend preference shares of
General Meeting
The resolution to be proposed at the General Meeting authorises the Directors to allot up to 5,710,000 additional ZDP Shares by way of the Issue and subsequent further issues, such authorities to expire on
Key information about the new ZDP Shares:
Expected admission date |
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ZDP Final Payment Date |
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Issue price per ZDP Share |
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Final Capital Entitlement per ZDP Share |
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Redemption Yield at the Issue price |
5.57 per cent. per annum |
Key information about the total ZDP shares following the Issue: |
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Total number of ZDP Shares in issue |
10,284,800 |
Initial Cover |
3.7 times |
Hurdle rate to receive the Final Capital Entitlement |
-22.6 per cent. per annum |
Hurdle rate to receive the Issue price |
-25.6 per cent. per annum |
ISIN |
GB00B99R1Q79 |
SEDOL Code |
B99R1Q7 |
Ticker |
INLZ |
The above Cover Ratio and Hurdle rates have been derived from the unaudited management accounts of
Capitalised words in this announcement and which are not otherwise defined in this announcement have the same meanings as in the Prospectus unless the context otherwise requires.
Further information: |
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Tel: +44 (0) 1494 762450
Inland ZDP Ticker: INLZ Inland: Ticker: LSE: AIM: INL |
Broker to the Placing |
finnCap Nomad & Broker to INLAND Corporate Finance: Corporate Broking: Tel:+44 (0) 20 7220 0500
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IR & media relations consultants or Paul Weigh, Director Tel: 020 7138 3205
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Editor's Note:
INLAND identifies land in the South of
NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, IS OR WILL BE MADE AS TO, OR IN RELATION TO, AND NO RESPONSIBILITY OR LIABILITY IS OR WILL BE ACCEPTED BY INLAND OR ZDPCO OR BY ANY OF THEIR RESPECTIVE AFFILIATES OR AGENTS AS TO, OR IN RELATION TO, THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OTHER WRITTEN OR ORAL INFORMATION MADE AVAILABLE TO OR PUBLICLY AVAILABLE TO ANY INTERESTED PARTY OR ITS ADVISERS, AND ANY LIABILITY THEREFORE IS EXPRESSLY DISCLAIMED.
ALL INVESTMENTS ARE SUBJECT TO RISK. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RETURNS. THE VALUE OF INVESTMENTS MAY FLUCTUATE. RESULTS ACHIEVED IN THE PAST ARE NO GUARANTEE OF FUTURE RESULTS. THIS DOCUMENT IS NOT INTENDED TO CONSTITUTE LEGAL, TAX OR ACCOUNTING ADVICE OR INVESTMENT RECOMMENDATIONS. PROSPECTIVE INVESTORS ARE ADVISED TO SEEK EXPERT LEGAL, FINANCIAL, TAX AND OTHER PROFESSIONAL ADVICE BEFORE MAKING ANY INVESTMENT DECISION.
4821-2829-4424, v. 4
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