Triple Point Social Housing REIT NET ASSET VALUE AS AT 30 SEPTEMBER 2018 (4040H)
November 15 2018 - 2:01AM
UK Regulatory
TIDMSOHO
RNS Number : 4040H
Triple Point Social Housing REIT
15 November 2018
15 November 2018
Triple Point Social Housing REIT plc
(the "Company" or, together with its subsidiaries, the
"Group")
NET ASSET VALUE AS AT 30 SEPTEMBER 2018
The Board of Triple Point Social Housing REIT plc (ticker: SOHO)
announces the Company's unaudited Net Asset Value ("NAV") as at 30
September 2018.
The unaudited NAV reflects an independent RICS "Red Book"
valuation of the Company's portfolio (including all property
acquisitions completed and the prevailing value of forward funded
commitments) as at 30 September 2018, prepared by Jones Lang
LaSalle Limited, on an individual asset basis (as required by
IFRS).
IFRS and EPRA Net Asset Values*
As at 30 Sep As at 30 Jun % change
2018 2018
(unaudited) (unaudited)
------------- ------------- ---------
NAV per Ordinary Share (pence) 100.47 101.61 - 1.1%
------------- ------------- ---------
* As at 30 September 2018, the IFRS and EPRA NAVs for the
Company were the same.
In light of the recent equity issue undertaken by the Company
which raised GBP108.15 million and completed in October 2018 (the
"Issue"), the Board decided that the new Ordinary Shares issued
pursuant to the Issue should not be entitled to the Q3 dividend of
1.25p per Ordinary Share in respect of the quarter to 30 September
2018 (the "Q3 Dividend"). Accordingly, the Q3 Dividend was declared
early, on 19 September 2018 with a record date of 28 September
2018. Had the Q3 Dividend not been declared early, the NAV per
Ordinary Share as at 30 September 2018 would have been 101.72p.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Triple Point Investment Management (via Newgate below)
LLP
(Delegated Investment Manager)
James Cranmer
Ben Beaton
Max Shenkman
Justin Hubble
Akur Limited (Joint Financial Adviser) Tel: 020 7493 3631
Tom Frost
Anthony Richardson
Siobhan Sergeant
Canaccord Genuity Limited (Joint Tel: 020 7523 8000
Financial Adviser and Corporate
Broker)
Lucy Lewis
Denis Flanagan
Andrew Zychowski
Newgate (PR Adviser) Tel: 020 7680 6550
James Benjamin Em: triplepoint@newgatecomms.com
Anna Geffert
The Company's LEI is 213800BERVBS2HFTBC58.
Further information on the Company can be found on its website
at www.triplepointreit.com.
NOTES:
The Company invests in primarily newly developed social housing
assets in the UK, with a particular focus on supported housing. The
assets within the portfolio are subject to inflation-adjusted,
long-term (typically from 20 years to 30 years), Fully Repairing
and Insuring ("FRI") leases with Approved Providers (being Housing
Associations, Local Authorities or other regulated organisations in
receipt of direct payment from local government). The portfolio
comprises investments into properties which are already subject to
an FRI lease with an Approved Provider, as well as forward funding
of pre-let developments but does not include any direct development
or speculative development.
There is increasing political and financial pressure on Housing
Associations to increase their housing delivery and this is
creating opportunities for private sector investors to participate
in the market. The Group's ability to provide forward financing for
new developments not only enables the Company to secure fit for
purpose, modern assets for its portfolio but also addresses the
chronic undersupply of suitable supported housing properties in the
UK at sustainable rents as well as delivering returns to
investors.
Triple Point Investment Management LLP (part of the Triple Point
Group) is responsible for management of the Group's portfolio (with
such functions having been delegated to it by Langham Hall Fund
Management LLP, the Company's alternative investment fund
manager).
The Company was admitted to trading on the Specialist Fund
Segment of the Main Market of the London Stock Exchange on 8 August
2017 and was admitted to the premium segment of the Official List
of the Financial Conduct Authority and migrated to trading on the
premium segment of the Main Market on 27 March 2018. The Company
operates as a UK Real Estate Investment Trust ("REIT") and is a
constituent of the FTSE EPRA/NAREIT index.
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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