By Laura Lutz
Washington, Dec. 20 - Real Estate Investors plc raised £25 million from a private placement of shares.
The company sold 250 million shares to institutional and other investors at 10p per share.
Incoming chief executive Paul Bassi and finance director Marcus Daly invested £3 million and £250,000, respectively, and non-executive deputy chairman John Jack invested £75,000.
Proceeds will be used for acquisitions.
Real Estate Investors is a property investment company in Rickmansworth, England.
| Issuer: | Real Estate Investors plc
|
| Issue: | Shares
|
| Amount: | £25 million
|
| Shares: | 250 million
|
| Price: | 10p
|
| Warrants: | No
|
| Investors: | Paul Bassi (for £3 million), Marcus Daly (for £250,000), John Jack (for £75,000)
|
| Announcement date: | Dec. 20
|
| Stock symbol: | London: RLE
|
| Stock price: | 9p at close Dec. 20
|
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