Notice of Full Year Results and Update

RNS Number : 6630W

LXI REIT PLC

18 April 2019

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EC NO. 596/2014)

18 April 2019

LXi REIT plc

(the "Company" or "LXi REIT")

NOTICE OF FULL YEAR RESULTS AND UPDATE

Notice of results

LXi REIT (ticker: LXI), the specialist inflation-protected very long income REIT, will announce its full year results for the year ended 31 March 2019 on Monday, 20 May 2019.

A presentation for analysts and investors will be held at 9am on the day at the offices of Maitland, Havas Building, 3 Pancras Square, London, N1C 4AG. The presentation will also be accessible via a live conference call and on-demand via the Company's website: https://www.lxireit.com/results-centre.

Those wishing to attend the presentation or access the live conference call are kindly asked to contact Maitland on [e-mail] or by telephone on [phone].

Update

The Company has successfully deployed all of its equity and debt capital and is considering an equity fundraise in 2019 to fund further investments in line with its investment policy and with a view to delivering further value for its shareholders.  Any such fundraise is expected to follow the publication of an updated net asset value for the Company and a prospectus. A further announcement will follow in due course.

FOR FURTHER INFORMATION, PLEASE CONTACT:

LXI REIT Advisors Limited John White (Partner, Fund Manager) Simon Lee (Partner, Fund Manager)	Via Maitland/AMO
Peel Hunt LLP Luke Simpson Liz Yong	Tel: [phone]
Maitland/AMO (PR Adviser) James Benjamin	Tel: [phone] Email: [e-mail]

The Company's LEI is: 2138008YZGXOKAXQVI45

NOTES:

LXi REIT plc invests in UK commercial property assets let, or pre-let, on very long (typically 20 to 30 years to first break), inflation-linked leases to a wide range of strong tenant covenants across a diverse range of robust property sectors.

The Company may invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. The Company will not undertake any direct development activity nor assume direct development risk.

The Company is targeting an annual dividend of 5.50 pence per ordinary share, starting from the financial period commencing 1 April 2018, with the potential to grow the dividend in absolute terms through upward-only inflation-protected long-term lease agreements, and is targeting a total net asset value return of a minimum of 8 per cent. per annum over the medium term.*

The Company, a real estate investment trust ("REIT") incorporated in England and Wales, is listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017. The Company is a constituent of the FTSE EPRA/NAREIT index.

Further information on the Company is available at www.lxireit.com

* These are targets only and not a profit forecast and there can be no assurance that they will be met.

 

END

 

 

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