REI management increases shareholding in REI plc
The management team behind AIM-listed property investment company Real Estate Investors plc (REI) has acquired a further 4,780,508 shares in the business.
Chief executive Paul Bassi has purchased 3,780,508 ordinary shares of 10p each at 28p per share, at a cost of £1.058 million, and finance director Marcus Daly has bought 1,000,000 ordinary shares, at a cost of £280,000.
Following these transactions, Paul Bassi has 16,000,000 shares, representing 9.26% of the company’s ordinary share capital and Marcus Daly has 3,513,487 shares, representing 2.04% of the company ,a combined holding of 11.3%.
REI is the UK’s only Midlands-focused Real Estate Investment Trust (REIT), with a portfolio of commercial property across all sectors.
The company has also completed a share buyback programme with a market value of up to £2 million of REI shares.
REI has a portfolio valued at £190 million at the half year, with pre-tax profits to 30 June 2022 of £8.3 million, including a £3.1 million gain on property revaluations.
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For further information, please contact:
Paul Bassi, Chief Executive,
Real Estate Investors plc, 2nd Floor, 75/77 Colmore Row, Birmingham B3 2AP
0121 265 6406 or 0121 212 3446
Prepared and issued by Andy Skinner at ASAP, 01608 651203, mobile, 07990 978257
About Real Estate Investors Plc
Real Estate Investors Plc (REI Plc) is a publicly quoted, internally managed property investment company and REIT with a portfolio of 1.59 million sq ft of commercial property, managed by a highly experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors.
The Company’s strategy is to invest in well located, real estate assets in the established and proven markets of central Birmingham and the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings. The portfolio has no material reliance on a single asset or occupier.