OGIER ADVISES LXB RETAIL PROPERTIES PLC

20 Jun, 2011

Ogier Advises LXB Retail Properties plc in relation to £110m further placing on AIM

A cross departmental Ogier team has acted for LXB Retail Properties plc, a Jersey-incorporated, closed-ended real estate investment company, in relation to the further placing of no par value ordinary shares on AIM and the CISX. 

LXB Retail Properties plc raised £110m in the placing of the new shares. At an issue price of 114p a share, the placing was at a 14% premium to net asset value. The proceeds will enable LXB Retail Properties to fund a £107m-£114m pipeline of new investments.

Ogier advised on investment fund, corporate and CISX listing issues and was headed by partner Chris Byrne assisted by managing associate Niamh Lalor and associate Alexandra Rayner and was instructed by Macfarlanes.  LXB Retail Properties plc is administered by Ogier Fund Administration (Jersey) Limited, with the team led by director Jane Pearce and assisted by Hollie Falle.

Commenting on the deal, Chris Byrne said: “We are delighted to have worked with LXB Retail Properties plc on this successful equity raise and we look forward to working with LXB Retail Properties as it adds to its investment in out-of-town and edge-of-town retail assets.”

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