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BRIEF-Palace Capital to buy R.T. Warren and undertake 70 mln pound share placing
September 19, 2017 / 6:17 AM / a month ago

BRIEF-Palace Capital to buy R.T. Warren and undertake 70 mln pound share placing

Sept 19 (Reuters) - Palace Capital Plc

* Palace Capital, the property investment company, is pleased to announce that it has conditionally agreed to acquire the entire issued share capital of R.T. Warren Limited for a total cash consideration of 53.3 million pounds, subject to adjustment

* A bank loan of 14.5 million pounds is being retained by RT Warren

* To finance the Acquisition, the company is proposing to undertake a placing to raise 70 million pounds of which £4.3 million is subject to clawback under an open offer to Qualifying Shareholders

* The Placing is to be conducted by way of an accelerated bookbuilding process which will commence immediately. Source text for Eikon: Further company coverage: (Reporting By Pamela Barbaglia)

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