News Column

European REIT To Return GBP6.4 Million To Shareholders, Chairman Resigns

July 1, 2014

Anthony Tshibangu

LONDON (Alliance News) - European Real Estate Investment Trust Ltd said it will return around GBP6.4 million to shareholders by way of a compulsory partial redemption of shares.

This redemption will be effected at the estimated redemption net asset value per share as at June 30 of 182 pence per share.

In a separate note, the company said as part of its plans to reduce cost Chairman Crispian Collins has decided to resign with immediate effect. Stephen Coe, chairman of the audit committee, will succeed Collins.

The company said its portfolio was valued at EUR57.8 million at the end of June compared with EUR63.2 million in December following the sale of it car park property in Kaiserslautern, Germany.

European REIT shares were quoted down 2.7% at 118.25 pence Tuesday morning.

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Source: Alliance News

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