UK-based property investment company Wichford plc announced on Tuesday that it listed about 543,890,859 ordinary shares at 7.2 pence each on the London Stock Exchange's main market following the completion of the reverse takeover of Redefine International plc.

Wichford, which invests predominantly in government property in the UK and Europe, will be renamed Redefine International plc.

On the other hand, Redefine International plc shares will cease to trade on the London Stock Exchange's AIM. The cancellation is expected to become effective on September 8.

Wichford has appointed Gavin Tipper, Michael Farrow, Stewart Shaw-Taylor, Marc Wainer and Michael Watters to the board of the merged entity.

The companies said the strategy was to build a large, more liquid company focused on diversified, income producing investment properties.

"The directors believe that the company will be well placed to deliver attractive cash returns for investors and growth over the long term," they said in a statement.

Redefine International, which is listed in the UK, is majority owned by JSE-listed Redefine Properties International (RIN).

Source: I-Net Bridge