ERET European Real E

TIDMERET

RNS Number : 4564G

European Real Estate Inv Tst Ltd

08 August 2016

8 August 2016

European Real Estate Investment Trust Limited ("the Company")

Return of capital

Further to the announcement made on 1 August 2016 in respect of a return of capital of EUR20.7m, the Board is pleased to confirm that the Seventh Redemption will be effected at the estimated unaudited Redemption Net Asset Value per share as at 28 July 2016 of 235 pence per share. The NAV per share of 235p (including the distribution of 30 pence per share made on 4 August 2016) is an unaudited estimate and will vary contingent on a number of matters including the sterling euro exchange rate and the realisation proceeds from the La Gaude asset when that asset is sold. There may also be liabilities associated with representations and warranties that have been given in respect of properties sold. Any liquidation costs associated with the structure are not included in the estimate of NAV. The Redemption will be effected pro rata to holdings of shares on the register at the close of business on the Redemption Record Date, being 11 August 2016. On this basis 49.00 per cent. of the Company's issued share capital would be redeemed on the Redemption Date.

The Board will be reviewing its options in respect of its remaining assets in due course and will look to give further information in its interim financial statements expected to be released at the end of August 2016.

Fractions of shares will not be redeemed and so the number of shares to be redeemed for each shareholder will be rounded down to the nearest whole number of shares.

The amount to be applied to the partial redemption of shares comprises monies from the Company's existing cash balances. As at today's date, the Company has 15,166,774 shares in issue of which none are held in treasury.

All shares that are redeemed will be cancelled with effect from the relevant Redemption Date. Accordingly, once redeemed, shares will be incapable of transfer.

The Shares will all be disabled in CREST after close of business on the Redemption Date and the existing ISIN number GG00BD82KK82 (the "Old ISIN") will expire.

The new ISIN number GG00BDCSC847 (the "New ISIN") in respect of the remaining Shares which have not been redeemed will be enabled and available for transactions from and including 12 August 2016.

Up to and including the Redemption Date, Shares will be traded under the Old ISIN and as such, a purchaser of such Shares would have a market claim for a proportion of the redemption proceeds. CREST will automatically transform any open transactions as at the Redemption Date into the New ISIN. For the avoidance of doubt, any shares purchased up to and including on the Redemption date will be entitled to a proportion of the redemption proceeds, regardless of whether the transaction has settled in CREST by the Redemption Date.

Expected timetable for redemption:

Record Date, Redemption date and expiry of old ISIN number 11 August 2016

New ISIN number enabled 12 August 2016

   Redemption monies paid (expected) uncertificated holdings:                   week of 17 August 2016 

certificated holdings: week of 22 August 2016

Enquiries:

Computershare Investor Services PLC

Shareholder Helpline Phone: +44 (0) 370 7074040

Praxis Fund Services Limited

Shona Darling Phone: +44(0) 1481 755528

Cenkos Securities plc

Will Rogers Phone: +44 (0) 20 7397 1920

Sapna Shah Phone: +44 (0) 20 7397 1922

Schroder Property Investment Management Ltd

Tony Smedley Phone: +44(0) 20 7658 6000

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 08, 2016 02:00 ET (06:00 GMT)

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