Elite UK REIT deploys £7.4 million private-placement proceeds to repay debt
SGX Filings
Jul 01
Elite UK REIT announced on Jul, 01 2026 that it has temporarily applied the entire £7.4 million raised from its recent private placement to repay existing borrowings.
The trust had previously detailed plans to allocate approximately £1.3 million of the proceeds to part-fund an identified acquisition and about £6.1 million to support the conversion of Lindsay House in Dundee into a purpose-built student accommodation facility.
Management said the funds have been placed towards debt reduction in the interim and that further updates will be provided when the proceeds are redeployed in line with the original intentions or for other corporate or working-capital needs.
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