23rd Mar 2016 14:46
LONDON (Alliance News) - Drum Income Plus REIT PLC on Wednesday said it has raised about GBP2.7 million in an initial placing as part of a 12-month programme designed to fund the acquisition of further UK commercial properties.
The shares were sold at 100 pence each. The company's plan is to issue up to a total of 100 million new shares at that price over the next 12 months, including those shares already sold.
Drum Income said it raised a further GBP75,000 by issuing a total of 75,000 shares to directors John Evans and Alan Robertson.
The 12-month placing programme opens on Thursday.
Shares in Drum Income Plus REIT were untraded at 109.50 pence on Wednesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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