Migration to the Premium Segment of the Main Market of the London Stock Exchange and listing on the Official List of the UK Listing Authority
Further to the announcement on 1 July 2016, the Directors of GCP Student Living plc, the UK's first REIT focused on student residential assets, are pleased to announce that the Company has today received confirmation from the UK Listing Authority that it is eligible for migration to a premium listing on the Official List of the UK Listing Authority.
Accordingly, the Company and its advisers have made applications to the UK Listing Authority and London Stock Exchange for listing on the Official List and a transfer to trading from the Specialist Fund Segment to the Premium Segment of the Main Market of the London Stock Exchange in respect of 261,795,015 ordinary shares of 1 penny each.
The Premium Segment of the Main Market is an established market which is accessible to a broad range of investors. Accordingly, the Company's Migration is expected to result in a broader investor base over the longer term and better position for the Company to meet the liquidity requirements of a wider audience of investors, which the Directors believe may enhance the liquidity of its shares in the secondary market to the benefit of all shareholders.
Admission is expected to occur with effect from 8am on 16 September 2016. The Company's ticker, ISIN and SEDOL will remain unchanged.
Following admission to the Official List, the Company's shares may become eligible for inclusion in the FTSE Indices at the next period of review, subject to meeting the relevant requirements for such inclusion.
This announcement contains inside information.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| Gravis Capital Partners LLP (the "Investment Manager") | ||
| Tom Ward | tom.ward@gcpuk.com | +44 20 7518 1490 |
| Nick Barker | nick.barker@gcpuk.com | |
| Dion Di Miceli | dion.dimiceli@gcpuk.com | |
Stifel Nicolaus Europe Limited | ||
| Neil Winward | neil.winward@stifel.com | +44 20 7710 7600 |
| Mark Young | mark.young@stifel.com | |
| Tom Yeadon | tom.yeadon@stifel.com | |
| Buchanan | ||
| Charles Ryland | charlesr@buchanan.uk.com | +44 20 7466 5000 |
| Vicky Watkins | victoriaw@buchanan.uk.com | |
AboutGCP Student Living plc
The Company was the first student accommodation REIT in the UK. The Company invests in modern, purpose-built, private student residential accommodation and teaching facilities. Its investments are located primarily in and around London where the Investment Manager believes the Company is likely to benefit from supply and demand imbalances for student residential accommodation.
The Company currently owns and operates c.2,000 beds across six properties.
The Company's assets are primarily occupied by international students and offer new high specification facilities and hotel-level concierge type services which the Investment Manager believes are attractive to overseas students.
Important Information
The content of this announcement has been prepared by, and is the sole responsibility of, GCP Student Living plc. The information contained in this announcement is given at the date of its publication (unless otherwise marked) and is subject to updating, revision and amendment from time to time. Neither the content of the Company's website nor any website accessible by hyperlinks to the Company's website is incorporated in, or forms part of, this announcement. The distribution of this announcement into jurisdictions other than the United Kingdom may be restricted by law. Any failure to comply with these restrictions may constitute a violation of the securities laws or regulations of any such jurisdiction. In particular, this announcement should not be distributed, forwarded to or transmitted, directly or indirectly, in whole or in part, in, into or from the United States, Australia, Canada, Japan or the Republic of South Africa or any other jurisdiction where to do so may constitute a violation of the securities laws or regulations of any such jurisdiction. Stifel Nicolaus Europe Limited, which is authorised and regulated by the Financial Conduct Authority, is acting only for the Company in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Stifel Nicolaus Europe Limited or advice to any other person in relation to the matters contained herein.
None of the Company, Gravis Capital Partners LLP or Stifel Nicolaus Europe Limited, or any of their respective affiliates, accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to this announcement, including the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or for any loss howsoever arising from any use of the announcement or its contents. The Company, Gravis Capital Partners LLP and Stifel Nicolaus Europe Limited, and their respective affiliates, accordingly disclaim all and any liability whether arising in tort, contract or otherwise which they might otherwise have in respect of this announcement or its contents or otherwise arising in connection therewith.
