RDI REIT PLC Results of Dividend Election (2905R)
June 14 2018 - 2:00AM
UK Regulatory
TIDMRDI
RNS Number : 2905R
RDI REIT PLC
14 June 2018
RDI REIT P.L.C.
("RDI" or the "Company" or the "Group")
(Registration number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
LEI: 2138006NHZUMMRYQ1745
RESULTS OF DIVIDEND ELECTION
RDI shareholders are referred to the announcement released on 21
May 2018 regarding the election being offered to receive the
interim dividend of 1.35 pence per share in respect of the six
months ended 28 February 2018 as either a cash dividend or a scrip
dividend by way of an issue of new RDI shares (of the same class as
existing shares) credited as fully paid up ("Scrip Dividend").
The Company is pleased to announce that election forms for
282,107,974 ordinary shares of 8 pence each in the Company
("Ordinary Shares") have been received, representing a 14.9 per
cent take up by shareholders, for which 9,371,173 Scrip Dividend
shares are to be issued, being 0.5 per cent of the current issued
share capital of the Company.
An application will be made for the Scrip Dividend shares, which
will rank pari passu in all respects with the Company's existing
issued Ordinary Shares, to be admitted to the Premium Segment of
the Official List of the United Kingdom Listing Authority, to
trading on the London Stock Exchange's Main Market for listed
securities and to be listed on the JSE ("Admission"). It is
expected that Admission will occur on Monday, 25 June 2018.
This announcement is being made ahead of the proposed schedule,
prior to Admission.
Following Admission, and further to the share buyback programme
which has now completed, the total number of voting rights will be
1,900,449,536. All shares acquired under the buyback programme have
been cancelled and no Ordinary Shares are held in treasury. The
figure of 1,900,449,536 Ordinary Shares may then be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the UK Financial Conduct Authority's Disclosure
Guidance and Transparency Rules.
For further information, please contact:
RDI REIT P.L.C.
Mike Watters, Stephen Oakenfull, Donald Tel: +44 (0) 20 7811 0100
Grant
FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Ellie Tel: +44 (0) 20 3727 1000
Sweeney
Instinctif Partners
SA Public Relations Adviser
Frederic Cornet, Lizelle du Toit Tel: +27 (0) 11 447 3030
JSE Sponsor
Java Capital Tel: + 27 (0) 11 722 3050
Note to editors
About RDI
RDI is a FTSE 250 UK Real Estate Investment Trust (UK-REIT)
committed to becoming the UK's leading income focused REIT. The
Company's income-led business model and strategic priorities are
designed to offer shareholders superior, sustainable and growing
income returns, with a target growth in underlying earnings per
share of 3%-5% across the medium term.
Income sustainability is underpinned by a diversified portfolio
and tenant base, with no overreliance on any one sector or tenant,
together with an efficient capital structure. The secure and
growing income stream is 25.9% indexed and has a WAULT of 6.8 years
to first break (8.2 years to expiry). This is complemented by an
average debt maturity of 7.0 years of which over 90% of interest
costs are either fixed or capped. The Company is focused on all
aspects impacting shareholder distributions and reports one of the
lowest cost ratios in the industry whilst maintaining a low cost of
debt.
The Company owns properties independently valued at GBP1.6bn in
the United Kingdom and Germany, Europe's two largest, liquid and
transparent property markets. RDI invests in assets with strong
property fundamentals spread across UK offices (including London
serviced offices), UK logistics, UK shopping centres, UK retail
parks, UK hotels and German retail. RDI is well placed to take
advantage of the increasing occupier requirement for real estate
owners to become high quality service providers, given its scalable
operational platforms and nearly a third of the portfolio invested
in hotels and London serviced offices.
RDI holds a primary listing on the London Stock Exchange and a
secondary listing on the Johannesburg Stock Exchange and is
included within the FTSE 250, EPRA, GPR, JSE All Property and JSE
Tradeable Property indices.
For more information on RDI, please refer to the Company's
website www.rdireit.com
All figures as at 28 February 2018
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
IOEFJMBTMBMBBIP
(END) Dow Jones Newswires
June 14, 2018 02:00 ET (06:00 GMT)
Rdi Reit P.l.c (LSE:RDI)
Historical Stock Chart
From Apr 2024 to May 2024
Rdi Reit P.l.c (LSE:RDI)
Historical Stock Chart
From May 2023 to May 2024