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LONDON - Starwood European Real Estate Finance Limited (SEREF) has compulsorily redeemed approximately 25.9 million shares as part of its ninth capital distribution, according to a company statement released Tuesday.
The redemption, completed as of the close of business on Monday, was executed on a pro rata basis at a price of £0.9638 per share. The company noted that fractions of shares resulting from the redemption ratios were not redeemed, with the number of shares redeemed for each shareholder rounded down to the nearest whole number.
Shareholders can expect to receive redemption payments by Wednesday, either through CREST for shares held in uncertificated form or by cheque/BACS for those held in certificated form. New certificates will be distributed to certificated shareholders by the same date.
Following this redemption, SEREF now has 54,215,697 shares in issue with an equivalent number of voting rights. The company has implemented a new ISIN (GG00BW5S7K10) for the remaining shares, which became effective for transactions from 8:00 a.m. Tuesday.
This announcement follows previous communications regarding the company’s ninth capital distribution initiative, based on the press release statement.
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