The placing and offer were made at an issue price of 26 pence per new ordinary share and closed on 3 October 2012.

Qualifying shareholders took up approximately 96.35% of the shares offered and the remaining have been allocated to the institutional and other investors with whom they had been conditionally placed by Redefine International Investment Fund Management Limited, Peel Hunt and Investec.

In addition, 89,223,606 Firm Placed Shares have been placed with certain institutional and other investors pursuant to the terms of the Firm Placing. As a consequence the Company has conditionally raised, through its firm placing and open offer, gross proceeds of £127,500,000.

The placing and offer remain conditional on approval by shareholders at the Extraordinary General Meeting to be held on 8 October 2012.

Trading of the new ordinary shares on the London Stock Exchange’s main market is scheduled for 9 October 2012, subject to the outcome of the shareholder’s meeting.

Commenting on the results Greg Clarke, Chairman of Redefine International, said that the company was pleased that the placing and offer had received such strong support, as a result of which, Redefine International raised substantially more than the initial target of £100 million.

“The Company is now in a strong position to accelerate the further reduction of its leverage, and provide capital to take advantage of attractive opportunities which offer the potential for capital and income enhancement. We look forward with confidence to the next phase of the company’s growth, in which our primary purpose will be to deliver consistent income returns and create long term value for our shareholders,” says Clarke.

This announcement follows a report earlier this week by JSE-listed Redefine Properties International Limited ( RIN), the holding company of Redefine International P.L.C. (“RI PLC”), which reported its offer had also been oversubscribed by 110%..