Triple Point Social Housing REIT Purchase of Management Shares (5387G)
March 18 2020 - 3:00AM
UK Regulatory
TIDMSOHO
RNS Number : 5387G
Triple Point Social Housing REIT
18 March 2020
18 March 2020
Triple Point Social Housing REIT plc
(the "Company" or, together with its subsidiaries, the
"Group")
PURCHASE OF ORDINARY SHARES UNDER THE DELEGATED PORTFOLIO
MANAGEMENT AGREEMENT
The Company announces that, in accordance with the terms of the
Delegated Portfolio Management Agreement with Triple Point
Investment Management LLP (the "Investment Manager") pursuant to
which, the Investment Manager shall procure that 25 per cent. of
the management fee (net of applicable tax) shall be applied by
subscribing for or acquiring Ordinary Shares in the capital of the
Company ("Management Shares"), the Investment Manager purchased
325,853 Ordinary Shares at an average price of 74.4199 pence on 17
March 2020.
The purchase was made by Perihelion One Limited (a company in
the Triple Point Group), following which the Investment Manager
holds 1,872,084 shares in the Company.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Triple Point Investment Management Tel: 020 7201 8989
LLP
(Delegated Investment Manager)
James Cranmer
Ben Beaton
Max Shenkman
Hanway Advisory Limited (Company Tel: 020 7201 8989
Secretary)
Luke Cheshire
Akur Capital (Financial Adviser) Tel: 020 7493 3631
Tom Frost
Anthony Richardson
Siobhan Sergeant
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 pressure and social need to
increase housing supply across the UK which is creating
opportunities for private sector investors to help deliver this
housing. The Group's ability to provide forward funding 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
MSCEAFDXFENEEAA
(END) Dow Jones Newswires
March 18, 2020 03:00 ET (07:00 GMT)
Triple Point Social Hous... (LSE:SOHO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Triple Point Social Hous... (LSE:SOHO)
Historical Stock Chart
From Jul 2023 to Jul 2024