Net Asset Value

RNS Number : 7159F

Ground Rents Income Fund PLC

16 November 2015

 

Ground Rents Income Fund plc

(the "Company")

Unaudited Net Asset Value as at 30 September 2015

Ground Rents Income Fund plc (LSE: GRIO), a listed real estate investment trust (REIT) investing in UK ground rents  announces its Net Asset Value (NAV) as at 30 September 2015.

Highlights:

The unaudited NAV of the Company, as at 30 September 2015, was 114.2 pence per share.  This is an increase of 7.4% over the net asset value of 106.3 pence per share at 31 March 2015. 

The NAV incorporates the external portfolio valuation by Savills, as at 30 September 2015.  

Breakdown of NAV movement

Set out below is a breakdown of the change to the unaudited NAV calculated under IFRS over the period from 1 April 2015 to 30 September 2015:

Net Assets per unaudited interim accounts	£98.8m
Profit for H2 2015	£1.6m
Revaluation Gain less Costs of Acquisition	£7.4m
Dividends Paid H2 2015	(£1.7m)
Net assets per unaudited accounts	£106.1m

The net asset value is calculated under International Financial Reporting Standards (IFRS) and is unaudited.  The NAV per share is calculated using 92,965,711 shares of 50 pence each, being the number in issue on 30 September 2015.

Further information will be given in the audited statutory accounts of the Company for the year ended 30 September 2015 which will be announced next month (December 2015).

Contacts:

Ground Rents Income Fund plc
Simon Wombwell (Director)	020 7499 6424
Brooks Macdonald Funds Limited
James Agar (Director)	020 7659 3454
N+1 Singer (Broker)
James Maxwell / Liz Yong / Tom Smale	020 7496 3000
Tavistock (Media)
Jeremy Carey / James Whitmore	020 7920 3150
Appleby Securities (Channel Islands) Limited
Kate Storey / Danielle Machon	01481 755600

 

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