Assura, Warrington health REIT, raises £185m

Assura CEO Jonathan Murphy

Warrington-based healthcare real estate investment trust (REIT) Assura plc said on Tuesday it raised £185 million through a sale of 240.2 million shares at 77p each.

The share placing price represented a discount of 7.8% to the closing price on Monday of 83.5p.

Assura shares fell about 10% after the placing.

“A total of 240,207,920 new ordinary shares of 10 pence each in the capital of the company were placed by Stifel and J.P. Morgan Cazenove, at a price of 77 pence per placing share, raising gross proceeds of approximately £185 million.

“The placing shares being issued represent, in aggregate, circa 10 per cent. of Assura’s issued ordinary share capital immediately prior to the placing …

“For the avoidance of doubt, the placing shares shall not qualify for the quarterly interim dividend of 0.697 pence per share payable on 15 April 2020 to holders of ordinary shares on the register on 13 March 2020 …

“BlackRock, Inc. as agent for and on behalf of its discretionary managed clients is a related party of the company for the purposes of Chapter 11 of the Listing Rules as a result of being entitled to exercise, or to control the exercise of, over 10 per cent. of the votes able to be cast at general meetings of the company.

“Blackrock has agreed to subscribe for 26,159,814 Placing Shares at an aggregate value of £20,143,057 under, and on the terms and conditions of, the placing …

“Stifel and J.P. Morgan Cazenove acted as joint bookrunners in respect of the placing.”

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