Triple Point Social Housing REIT Completion of Initial Share Buyback Programme (4715C)
13 Junio 2023 - 1:05AM
UK Regulatory
TIDMSOHO
RNS Number : 4715C
Triple Point Social Housing REIT
13 June 2023
13 June 2023
Triple Point Social Housing REIT plc
(the "Company" or, together with its subsidiaries, the
"Group")
Completion of Initial Share Buyback Programme
The board of Triple Point Social Housing REIT plc (the "Board")
announces that, following the purchase of ordinary shares on 12
June 2023, the Company's initial share buyback programme of GBP5
million, managed by Stifel Nicolaus Europe Limited ("Stifel"), was
completed in accordance with its terms as announced on 18 April
2023. In aggregate, between 20 April 2023 and 12 June 2023, the
Company repurchased 9,322,512 ordinary shares at an average
purchase price of 52.61 pence per share.
As announced on 18 April 2023, the Board may seek to extend the
share buyback programme through a subsequent tranche following
receipt of proceeds in relation to a proposed portfolio property
sale, subject to market conditions and pricing.
ENDS.
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
Rajpal Padam
Madison Kominski
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
majority of the assets within the portfolio are subject to
inflation-linked, long-term, 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 a 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.
The Company is a UK Real Estate Investment Trust ("REIT") listed
on the premium segment of the Official List of the UK Financial
Conduct Authority and is a constituent of the FTSE EPRA/NAREIT
index.
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END
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