Civitas Social Housing PLC Transaction in Own Shares (7432O)
October 04 2019 - 2:00AM
UK Regulatory
TIDMCSH
RNS Number : 7432O
Civitas Social Housing PLC
04 October 2019
4 October 2019
CIVITAS SOCIAL HOUSING PLC
("Civitas" or the "Company")
TRANSACTION IN OWN SHARES
On 3 October 2019, Civitas Social Housing PLC ("Civitas" or the
"Company"), the leading supported living and social housing REIT,
bought into treasury 150,000 ordinary shares of 0.01p each in the
capital of the Company ("Ordinary Shares") at a price of 85.14p per
Ordinary Share.
In respect of the purchase of own shares the Board and the
Investment Adviser note the discount to IFRS net asset value at
which the Company's Ordinary Shares presently trade. The Board
believes that buybacks can be attractive for investment purposes at
the current discount to NAV as it provides NAV accretion for
ongoing shareholders.
The Company intends to take a balanced approach to share
buybacks whilst also taking into account the Company's significant
investment pipeline, the availability of the Company's debt
facilities and the impact of buybacks in reducing the size of the
Company.
The Investment Adviser has developed an attractive pipeline of
supported housing opportunities, a number of which are in advanced
stages of due diligence and are expected to meet the Company's
stringent investment criteria.
Total Voting Rights
Following the transaction, the Company's issued share capital is
622,461,380 Ordinary Shares. The Company holds 150,000 Ordinary
Shares in treasury, which do not carry any voting rights.
Accordingly, the total number of voting rights in the Company is
622,311,380 Ordinary Shares. This figure may be used by
shareholders as the denominator for the purposes of calculating
whether or not they are required to notify their interest in, or a
change to their interest in, the Company under the FCA's Disclosure
Guidance and Transparency Rules.
For further information, please contact:
Civitas Housing Advisors Limited
Paul Bridge Tel: +44 (0)20 3058 4844
Andrew Dawber Tel: +44 (0)20 3058 4846
Cenkos Securities PLC
Sapna Shah Tel: +44 (0)20 7397 1922
Tom Scrivens Tel: +44 (0)20 7397 1915
Liberum Capital Limited
Steve Pearce Tel: +44 (0) 20 3100 2222
Gillian Martin
Buchanan
Helen Tarbet / Henry Harrison-Topham Tel: +44 (0) 20 7466 5000
Henry Wilson / Hannah Ratcliff civitas@buchanan.uk.com
Notes:
Civitas Social Housing PLC is the first Real Estate Investment
Trust offering pure play exposure to social housing across the UK.
The Company is advised by Civitas Housing Advisors Limited, who are
authorised and regulated by the Financial Conduct Authority under
Firms Reference Number 815699. The Company is listed on the premium
listing segment of the Official List of the Financial Conduct
Authority and was admitted to trading on the main market for listed
securities of the London Stock Exchange in November 2016.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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