Impact Healthcare REIT PLC ACQUISITION AND SMALLER RELATED PARTY TRANSACTION (2150Z)
09 Enero 2020 - 1:00AM
UK Regulatory
TIDMIHR
RNS Number : 2150Z
Impact Healthcare REIT PLC
09 January 2020
9 January 2020
Impact Healthcare REIT plc
(the "Company" or, together with its subsidiaries, the
"Group")
ACQUISITION AND SMALLER RELATED PARTY TRANSACTION
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 for the elderly, is pleased to
announce that the Group has acquired a care home for GBP3.0
million.
The Group has appointed one of its existing tenants, Minster
Care Management Limited ("Minster"), as the new tenant of this home
at an initial rent of GBP225,000, reflecting an initial yield of
7.5%. The lease is subject to an annual upward-only review linked
to the Retail Prices Index, with a floor of 2% per annum and a cap
of 4% per annum.
The Group continues to work on a strong pipeline of further
acquisitions, a number of which are in exclusivity.
The entry into the new lease with Minster is deemed to be a
smaller related party transaction for the purposes of Listing Rule
11.1.10R and this announcement is therefore made in accordance with
Listing Rule 11.1.10R(2)(c).
FOR FURTHER INFORMATION, PLEASE CONTACT:
Impact Health Partners LLP via Maitland/AMO
Mahesh Patel
Andrew Cowley
Winterflood Securities Limited Tel: 020 3100 0000
Neil Langford
Rachael Tracy
RBC Capital Markets Tel: 020 7653 4000
Rupert Walford
Matthew Coakes
Maitland/AMO (Communications Tel: 020 7379 5151
Adviser) Email: impacthealth-maitland@maitland.co.uk
James Benjamin
The Company's LEI is: 213800AX3FHPMJL4IJ53. Its home member
state is the United Kingdom.
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) and has so far
paid three interim dividends of 1.5425 pence each per share.
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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