Impact Healthcare REIT PLC Acquisition (1857N)

TIDMIHR

RNS Number : 1857N

Impact Healthcare REIT PLC

23 September 2019

Impact Healthcare REIT plc

("Impact" or the "Company" or, together with its subsidiaries, the "Group")

ACQUISITIONS

The Board of Directors of Impact Healthcare REIT plc (ticker: IHR), the real estate investment trust which gives investors exposure to a diversified portfolio of UK healthcare real estate assets, in particular care homes, is pleased to announce that the Group has exchanged contracts to acquire Argentum Lodge Care Home for a net consideration of GBP6.95 million. The initial rent will be GBP467,000.

Argentum Lodge is a purpose-built nursing home located in the affluent village of Nailsea, approximately 10 miles to the south west of Bristol.

The Group has agreed to appoint one of its existing tenants, Welford, as the new tenant of Argentum Lodge, which will leave Welford operating five homes for Impact with a total of 230 beds. The terms of the new 25-year full repairing and insuring lease with Welford for the home are the same as the Group's existing leases with Welford.

The acquisition further enhances the Group's geographic and tenant diversification and is in line with its investment criteria and returns profile.

The Group continues to pursue a number of further acquisitions with a number in exclusivity and has a strong pipeline of potential investment opportunities.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 
 Impact Health Partners LLP              via Maitland/AMO 
  Mahesh Patel 
  Andrew Cowley 
 
 Winterflood Securities Limited          Tel: 020 3100 0000 
  Joe Winkley 
  Neil Langford 
 
 RBC Capital Markets                     Tel: 020 7653 4000 
  Rupert Walford 
  Matthew Coakes 
 
 Maitland/AMO (Communications Adviser)   Tel: 020 7379 5151 
  James Benjamin                          Email: impacthealth-maitland@maitland.co.uk 
  Peter Hamid

The Company's LEI is 213800AX3FHPMJL4IJ53.

Further information on Impact Healthcare REIT is available at www.impactreit.uk

NOTES:

Impact Healthcare REIT plc 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 UK 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 Company's intention is to pay a target dividend of 6.17 pence per share for the year to 31 December 2019(1) .

The Company will seek to grow the target dividend in line with the inflation-linked rental uplifts received by the Group under the terms of the rent review provisions contained in the Group's leases in the prior financial year.

The Group's Ordinary Shares were admitted to trading on the main market of the London Stock Exchange, premium fund segment, on 8 February 2019. The Company is a constituent of the FTSE EPRA/NAREIT index.

(1) This is a target only and not a profit forecast. There can be no assurance that the target will be met and it should not be taken as an indicator of the Company's expected or actual results.

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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