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SLI Property Income extends placing and offer

10 December 2015 14:56

Standard Life Investments Property Income Trust is extending the timetable for its initial placing and Offer until 11 a.m. on 18 December.

The company says the investment manager is in advanced legal negotiations in relation to the sale of one of the properties in the company's property portfolio, which is expected to complete prior to admission. The board is also amending the minimum issue proceeds that are required to be raised prior to admission to be either £80 million, or if the sale of the property is completed, £65 million. This amendment is being made in order to avoid the Company having surplus cash following the completion of these transactions.

At 2:56pm: (LON:SLI) Standard Life Investment Property Inc Trust share price was +0.5p at 83.5p

Story provided by StockMarketWire.com

Related Company: SLI

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