Proposed Secondary Placing
Growthpoint to sell minimum 47.7m NewRiver shares at 75p; NewRiver plans to repurchase them.
- Placing Shares (minimum) 47.7m shares
- Placing price 75p per share
- Selling Shareholder holding before 67.4m shares (14.2%)
- Placing Shares value (minimum) £35.8m
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Growthpoint Properties Limited (the "Selling Shareholder") announces its intention to sell a minimum of approximately 47.7 million ordinary shares (the "Placing Shares") in the capital of NewRiver REIT plc ("NewRiver") at a price of 75 pence per Placing Share (the "Placing"). The Selling Shareholder currently owns 67.4m ordinary shares in NewRiver representing approximately 14.2% of NewRiver's issued share capital (excluding shares held in the Employee Benefit Trust).
In connection with the Placing, NewRiver has indicated its intention to repurchase up to approximately 47.7m of the Placing Shares, in accordance with its existing authorities granted at NewRiver's Annual General Meeting held on 31 July 2025.
The Placing Shares are also being offered to institutional investors by way of an accelerated bookbuild, which will be launched immediately following this announcement. The Placing Shares will rank pari passu in all respects with NewRiver's ordinary shares.
Panmure Liberum Limited ("Panmure Liberum") are acting as Sole Bookrunner for the Selling Shareholder in connection with the Placing.
The final number of Placing Shares to be placed will be agreed by the Sole Bookrunner and the Selling Shareholder at the close of the bookbuild process, and the results of the Placing will be announced as soon as practicable thereafter. The timings for the close of the bookbuild process are at the absolute discretion of the Sole Bookrunner.
NewRiver will not receive any proceeds from the Placing.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.