Target Healthcare REIT share issue raises GBP94m
Target Healthcare REIT has raised GBP94 million through the issue of 87,037,038 Ordinary Shares (New Shares) by way of a Placing, Open Offer and Offer for Subscription (together the Share Issue).
The company has received valid acceptances under the Open Offer from Qualifying Shareholders in respect of 33,704,513 New Shares representing approximately 73.5 per cent. of the New Shares available pursuant to the Open Offer. The Company has also received valid acceptances under the Offer for Subscription in respect of 807,711 New Shares. In addition, a total of 52,524,814 New Shares were taken up pursuant to the Placing.
Applications will be made in respect of the 87,037,038 New Shares to be issued pursuant to the Share Issue 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 ("Admission"). It is expected that Admission will become effective and dealings in the New Shares will commence on 27 February 2018. When issued, the New Shares will rank pari passu with the existing Ordinary Shares.
Following Admission, the Company expects to have 339,217,889 Ordinary Shares in issue. The total number of voting rights of the Company will be 339,217,889 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 Company.