Triple Point Social Housing REIT Purchase of Management Shares (4035U)
April 06 2021 - 2:00AM
UK Regulatory
TIDMSOHO
RNS Number : 4035U
Triple Point Social Housing REIT
06 April 2021
6 April 2021
Triple Point Social Housing REIT plc
(the "Company" or, together with its subsidiaries, the
"Group")
PURCHASE OF ORDINARY SHARES UNDER THE INVESTMENT MANAGEMENT
AGREEMENT
The Company announces that, in accordance with the terms of the
Investment Management Agreement with Triple Point Investment
Management LLP ("Triple Point" or 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 250,042 Ordinary Shares in the market at an
average price of 102.50 pence on 31 March 2021. This purchase of
Management Shares on 31 March 2021 was made by Perihelion One
Limited ("Perihelion"), a company in the Triple Point Group.
In March 2021, the Investment Manager introduced a Product
Ownership Scheme, under which partners and employees of Triple
Point are able to use some or all of their discretionary
remuneration to acquire Ordinary Shares from the Investment
Manager. The partners and employees of Triple Point are subject to
the Triple Point Personal Account Dealing Code which governs the
ability of such individuals to deal in the Ordinary Shares. Under
the scheme employees are incentivised to hold the Ordinary Shares
for at least 12 months but are not subject to any formal lock-in
arrangements.
Following the acquisition of the Management Shares, Perihelion
will transfer a total of 421,136 Ordinary Shares to partners and
employees under the Product Ownership Scheme.
As a result, the Investment Manager and its staff hold a total
of 2,346,275 Ordinary Shares in the Company*.
* In respect of Triple Point partners and employees, these
figures only include Management Shares acquired from Perihelion and
not Ordinary Shares otherwise acquired by such individuals .
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Triple Point Investment Management Tel: 020 7201 8989
LLP
(Investment Manager)
Max Shenkman
Isobel Gunn-Brown
Akur Capital (Joint Financial Adviser) Tel: 020 7493 3631
Tom Frost
Anthony Richardson
Siobhan Sergeant
Stifel (Joint Financial Adviser Tel: 020 7710 7600
and Corporate Broker)
Mark Young
Mark Bloomfield
Rajpal Padam
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.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCEANLFEFNFEFA
(END) Dow Jones Newswires
April 06, 2021 02:00 ET (06:00 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