March 9, 2018 / 7:25 AM / 5 months ago

BRIEF-Secure Income REIT Acquires Two Off-Market Portfolios At Total Cost Of 436 Mln Stg

March 9 (Reuters) - Secure Income REIT Plc:

* £436M ACQUISITION & £315.5M PLACING OF SHARES

* SAYS CONTRACTS HAVE BEEN EXCHANGED TO ACQUIRE TWO SUBSTANTIAL OFF-MARKET PORTFOLIOS AT A TOTAL COST OF £436 MILLION

* TO PART FINANCE ACQUISITIONS, COMPANY IS PROPOSING A PLACING TO INSTITUTIONAL INVESTORS OF UP TO 86.4 MILLION NEW ORDINARY SHARES

* SAYS PLACING PRICE WILL BE 365 PENCE PER PLACING SHARE

* SAYS BOARD AND PRESTBURY MANAGEMENT TEAM WILL BE INVESTING £5.25 MILLION AT PLACING PRICE

* SAYS FOLLOWING COMPLETION, PRESTBURY MANAGEMENT WILL HOLD SHAREHOLDING IN COMPANY OF ABOUT £158 MILLION AT PLACING PRICE

* BOARD BELIEVES DEAL TO INCREASE DIVIDENDS WITH POST-ACQUISITION DIVIDEND EXPECTED TO YIELD 4.3% ON PLACING PRICE Source text for Eikon: Further company coverage:

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