To partly fund the acquisition, the REIT launched a private placement to raise GBP4 million by issuing around 13.3 million units priced at between GBP0.295 to GBP0.30 apiece.
The manager of the REIT announced today that it has reallocated and fully utilised the gross proceeds from the private placement to part finance the proposed acquisition and associated costs, and to pay for the estimated fees and expenses including professional fees and expenses.
Units in Elite UK REIT closed flat at GBP0.305 on June 20.
