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British Land Company PLC to increase share in Hercules Unit Trust


Wednesday, 5 Feb 2014 02:00am EST 

British Land Company PLC:Says it has agreed to purchase 41 mln Pounds of additional units in Hercules Unit Trust (HUT) at a price of 613 Pounds per unit, 3.8 pct below latest NAV, as part of a scheduled pre-emption process.Says it has also submitted an application to Schroder Property Managers (Jersey) Ltd, the manager of HUT, to acquire up to 35 mln Pounds of further units in HUT which have been tendered as part of this process.Says it has acquires the minimum amount of 41 mln Pounds to which it is entitled under its pre-emption rights, its share in HUT will increase to 54.2 pct from its current level of 49.2 pct. 

Company Quote

804.5
-3.5 -0.43%
5:35am EDT