Conygar Investment Co PLC - London-based property investor and developer - Raises £15.0 million via placing and parent subscription of 15.0 million zero dividend preference shares at a price of £1.00 per ZDP share. Says the ZDP shares have a life of five years and a final capital entitlement of 153.86 pence per ZDP Share on the October ,4 2028, the repayment date. This is equivalent to an annual gross redemption yield of 9.0% on the issue price. Admission of new shares is expected on the International Stock Exchange on Wednesday.
On Thursday, Conygar announced the planned equity raise, saying it expected to use the net proceeds from the issue of the ZDP shares to continue developing The Island Quarter site in Nottingham city centre.
Current stock price: 96.00 pence, down 1.0%
12-month change: down 18%
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