TIDMIHR
RNS Number : 5624D
Impact Healthcare REIT PLC
01 February 2018
1 February 2018
Impact Healthcare REIT plc
(the "Company" and with its subsidiaries, the "Group")
NET ASSET VALUE AND DIVIDEND
The Board of Directors (the "Board") of Impact Healthcare REIT
plc (ticker: IHR) is pleased to provide the following update for
the period ended 31 December 2017.
Highlights
-- Unaudited Net Asset Value at 31 December 2017 of GBP193.5
million, 100.65 pence per share (NAV at 30 September 2017: GBP159.9
million, 98.85 pence per share)
-- The portfolio value increased 1.83% to GBP156.2 million in
the period from 30 September 2017 to 31 December 2017, including
GBP0.5 million of capital improvements. The like-for-like valuation
uplift in the quarter was 1.5%. As at 31 December 2017:
o the Company's property portfolio comprised 57 residential care
homes (2,527 beds), with leases of 20 years (from March 2017 with
no tenant break right), subject to annual upward only Retail Price
Index-linked rent reviews (with a floor and cap at 2% p.a. and 4%
p.a., respectively)
o the Board approved a number of capital enhancing opportunities
within the current portfolio and development commenced on 46
additional beds out of the 92 approved
o the portfolio has an annualised rent roll of GBP11.9
million
-- The Board has today declared an interim dividend of 1.50
pence per ordinary share for the period from 30 September 2017 to
31 December 2017 payable on 22 February 2018 to shareholders on the
register on 9 February 2018. The ex-dividend date will be 8
February 2018. This dividend will be a Property Income Distribution
("PID")
o The Company is targeting an aggregate dividend of 6.0 pence
per share for the first 12 months from Admission, which equates to
a yield of 6 per cent. per annum on the Initial Public Offering
("IPO") Issue Price, payable in quarterly instalments(1)
-- Successful oversubscribed GBP32.6 million equity issue in November 2017
-- Post period, the Board announced that the Group exchanged
contracts to acquire, in a sale and leaseback transaction from a
new tenant the Prestige Care Group ("Prestige"), a portfolio of
three purpose-built care homes in the North-East of England
providing 234 high quality care beds and an additional 40 beds
which present an asset management opportunity, for a total
consideration (including costs) of GBP17 million
o Following the completion of the Prestige portfolio that is
expected to take place before the end of the first quarter 2018,
the Group's portfolio will comprise 60 residential care homes
(2,761 operating beds)
-- The Group continues to pursue a number of active investment
opportunities with three currently in exclusivity
The Company also announces that its Q4 Fact Sheet for the period
to 31 December 2017 is published and will be available to view
later today on the Company's website at:
www.impactreit.uk/documents
Rupert Barclay, Chairman of Impact Healthcare REIT plc,
commented:
"The Group's diversified portfolio of high quality residential
care homes is continuing to perform well, providing secure cash
flows that support the Company's dividend policy while delivering
stability to residents and a commitment to enhance their homes
wherever possible.
The Group remains well positioned to deliver to our shareholders
a growth in income with the potential for capital appreciation from
identified active asset management opportunities and the Group
continues to pursue a strong pipeline of new investments that are
in line with our investment criteria and returns profile."
(1) This is a target only and not a profit forecast and there
can be no assurance that it will be met and it should not be taken
as an indication of the Group's actual or expected future
results.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Impact Health Partners via Newgate Communications
LLP
Mahesh Patel
Andrew Cowley
Winterflood Securities Tel: 020 3100 0000
Limited
Joe Winkley
Neil Langford
Newgate Communications Tel: 020 7680 6550
(PR Adviser) Email: impact@newgatecomms.com
James Benjamin
Anna Geffert
The Company's LEI is 213800AX3FHPMJL4IJ53.
Further information on Impact Healthcare REIT is available at
www.impactreit.uk.
NOTES:
The Group is a real estate investment trust ("REIT") which aims
to provide shareholders with an attractive return, principally in
the form of quarterly income distributions and with the potential
for capital and income growth, through exposure to a diversified
portfolio of healthcare real estate opportunities, in particular
residential care homes. The Group's investment policy is to
acquire, renovate, extend and redevelop high quality healthcare
real estate assets in the UK and lease those assets primarily to
healthcare operators providing residential healthcare services
under full repairing and insuring leases.
The Group is targeting an aggregate dividend of 6.0p per share
for the first 12 months from Admission which equates to a yield of
6 per cent. per annum on the IPO Issue Price, payable in quarterly
instalments(1) .
The Group's Ordinary Shares were admitted to trading on the main
market of the London Stock Exchange, Specialist Fund Segment, on 7
March 2017.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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