19th Jul 2005 11:47
Insight Foundation Property Tst Ltd19 July 2005 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,CANADA, AUSTRALIA OR JAPAN. Insight Foundation Property Trust Limited 19 July 2005 Closing of placing and offer of up 100 million C shares This announcement appears as a matter of record only. In connection with the placing and offer (the "Placing") of up to 100 million Cshares in Insight Foundation Property Trust Limited (the "Company" or "IFPT") byJPMorgan Cazenove Limited ("JPMorgan Cazenove"), the bookbuilding process inconnection with the placing closed at 3.00 p.m. on 14 July 2005 and the offerfor subscription closed at 5.00 p.m. on 15 July 2005. An aggregate of 100,000,000 million C shares in IFPT will be issued at a priceof 100p per C share and will be settled on 27 July 2005. An aggregate of 8.2million shares were issued in the offer and 91.8 million in the placing.Cheques in respect of unsatisfied allocations within the offer will bedespatched to investors in the week beginning 25 July 2005. Duncan Owen, Managing Director, Property, at Insight Investment, IFPT'sInvestment Manager, commented: "The success of the placing will enable us to accelerate our plans to grow anddiversify the Company's portfolio, most specifically by enabling us to increaseour exposure to the Central London and South East office markets. This, inturn, should enhance shareholder returns. "We are delighted with the interest both existing and new investors have shownin the C Share issue, as a result of which the number of investors in theCompany has substantially increased." Enquiries: Duncan Owen (Insight Investment Management) 020 7321 1677 Richard Cotton / Angus Gordon Lennox (JPMorgan Cazenove) 020 7588 2828 Stephanie Highett / Dido Laurimore (Financial Dynamics) 020 7831 3113 This announcement is for information purposes only and does not constitute anoffer or an invitation to acquire or dispose of any securities. Thisannouncement is not for distribution directly or indirectly in or into theUnited States, Canada, Australia or Japan. This announcement does not constitutean offer to sell or issue or the solicitation of an offer to buy or acquireordinary shares in the capital of IFPT in the United States, Canada, Australiaor Japan or any jurisdiction in which such an offer or solicitation is unlawful.The C shares in IFPT referred to in this announcement have not been and will notbe registered under the Securities Act and may not be offered or sold within theUnited States absent registration or an exemption from registration. No publicoffering of securities will be made in the United Kingdom, the United States,Canada, Australia, Japan or elsewhere. This announcement has been communicated by JPMorgan Cazenove who are regulatedin the United Kingdom by the Financial Services Authority and does notconstitute an offer to sell or a solicitation of an offer to purchase anysecurities. JPMorgan Cazenove are acting exclusively for IFPT and no one else inconnection with the Placing and will not be responsible to anyone other thanIFPT for providing the protections afforded to clients of JPMorgan Cazenove norfor providing any advice in relation to the Placing or any other mattersreferred to in this press announcement. END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Schroder Real