GCP Student Living Dividend Declaration and Net Asset Valuation
November 07 2018 - 2:00AM
UK Regulatory
TIDMDIGS
GCP Student Living plc
("GCP Student" or the "Company", together with its subsidiaries the "Group")
LEI: 2138004J4ID66FK38H25
Net Asset Value and Dividend
Net Asset Value
GCP Student, the UK's first REIT focused on student residential assets, today
announces that at close of business on 30 September 2018, the unaudited
estimated EPRA net asset value per ordinary share of the Company was 153.02
pence. The EPRA net asset value includes income for the period (cum-income) and
does not include a provision for an accrued dividend for the quarter to
30 September 2018.
The EPRA net asset value (ex-income) was 151.49 pence per ordinary share as at
that date, representing a quarterly increase of 2.6%.
Dividend
The Board is pleased to announce a first interim dividend of 1.53 pence per
ordinary share, in respect of the quarter ended 30 September 2018. The first
interim dividend will be paid on 17 December 2018 to ordinary shareholders on
the register at 16 November 2018. The dividend will be paid as 1.13 pence per
ordinary share as a REIT property income distribution ("PID") in respect of the
Group's tax exempt property rental business and 0.40 pence per ordinary share
as an ordinary UK dividend ("non-PID").
7 November 2018
For further information please contact:
Gravis Capital Management Limited +44 020 3405 8500
Tom Ward tom.ward@graviscapital.com
Nick Barker nick.barker@graviscapital.com
Dion Di Miceli dion.dimiceli@graviscapital.com
Stifel Nicolaus Europe Limited +44 020 7710 7600
Neil Winward neil.winward@stifel.com
Mark Young mark.young@stifel.com
Tom Yeadon tom.yeadon@stifel.com
Buchanan +44 020 7466 5000
Charles Ryland charlesr@buchanan.uk.com
Henry Wilson henryw@buchanan.uk.com
About GCP Student
The Company was the first student accommodation REIT in the UK, investing in
modern, purpose-built, private student residential accommodation and teaching
facilities. Its investments are located primarily in and around London where
the Investment Manager believes the Company is likely to benefit from supply
and demand imbalances for student residential accommodation.
GCP Student's property portfolio comprises ten assets with c.3,600 beds,
including one asset which is expected to complete construction for the 2019/20
academic year. At 30 September 2018, its property portfolio was valued at GBP
816.8 million.
The Company's standing properties are predominantly occupied by international
students and offer high specification facilities and hotel-level concierge type
services which the Investment Manager believes are attractive to overseas
students.
END
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