NewRiver Retail Limited
("NewRiver" or the "Company")
Conversion of Loan Stock
The Company has received notices to convert £17,000,000 of its 5.85 per cent. A Convertible Loan Stock 2015 ("A CULS") into ordinary shares of no par value ("Ordinary Shares") from FNRR Holdings Limited. Following the conversion, there will be no loan stock outstanding. At the conversion price of 243 pence per Ordinary Share this will result in the issue of 6,995,884 Ordinary Shares. Accordingly, the Company has applied to the London Stock Exchange for the 6,995,884 Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00am on 30 November 2015. The Ordinary Shares will rank pari passu with the existing ordinary shares in the capital of the Company then in issue.
Following the conversion, the Company's issued share capital will be 187,313,809 ordinary shares of no par value. The Company holds 454,345 ordinary shares of no par value in the Company's Employee Benefit Trust ("EBT"). As the EBT is consolidated, these shares are treated as treasury shares.
The total number of voting rights in the Company is therefore 186,859,464. 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 Company under the FCA's Disclosure and Transparency Rules.
NewRiver Retail Limited
David Lockhart, Chief Executive
Mark Davies, Finance Director
Tel: 020 3328 5800
David Rydell / James Newman / David Bass
Tel: 020 3772 2500
Richard Crawley / Jamie Richards
Tel: 020 3100 2000
Peel Hunt LLP
Capel Irwin / Hugh Preston
Tel: 020 7418 8900
NewRiver Retail Limited is an AIM listed REIT. The Company is a specialist real estate investor, asset manager and developer focused solely on the UK retail sector. At the close of 2014 NewRiver Retail was named Property Company of the Year - Retail & Leisure at the Estates Gazette Awards.
The management team, with over 100 years combined experience in the UK commercial property market, actively engages with retailers, stakeholders and consumers. NewRiver Retail is one of the UK's largest shopping centre owner/managers with assets under management of £1 billion principally comprising 29 UK wide shopping centres, further nationwide retail assets and a portfolio of 360 pubs with retail and mixed-use extension opportunities. The portfolio has 1,440 occupiers, a total of over 6.4 million sq. ft., total annual footfall of over 126 million and a retail occupancy rate of 96 per cent.
The Company's activities include active and entrepreneurial asset management and risk-controlled development, utilising both its own balance sheet and co-investment joint venture structures.
Founded in 2009, NewRiver has become the UK's leading retail-focused property investment business. The Company's shares were admitted to London's AIM in September of the same year. For more information on NewRiver, please visit www.nrr.co.uk