RNS Number : 7156A
Picton ZDP Limited
25 March 2013
 



 

25th March 2013

 

PICTON PROPERTY INCOME LIMITED

("Picton" or the "Company")

 

Zero Dividend Preference Share Purchases

 

In October 2012, Picton ZDP Limited, a wholly owned subsidiary of Picton Property Income Limited issued 22 million Zero Dividend Preference Shares ("ZDPs") and at that time the Company highlighted one of the benefits of ZDPs was the ability of the Company to reduce its gearing position through the purchase ZDPs over time.

 

Picton today announces its intention to purchase ZDPs in the market. It is expected that ZDP purchases will take place over time utilising excess cash flow.  To that end, the Company has instructed Oriel Securities Limited to purchase ZDPs on the Company's behalf subject to certain pre-set parameters.

 

Picton confirms that it is satisfied that all inside information in relation to the ZDPs has previously been notified.

 

 

For further information:

 

Picton Capital Limited

Michael Morris

 


020 7011 9978

 

Oriel Securities Limited

Roger Clarke

Neil Langford

 


020 7710 7600

Northern Trust International Fund Administration Services (Guernsey) Limited (Company Secretary)

Renee McIver

 

 


01481 745 324

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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