Borrowings Further Reduced

Regional REIT Limited

12 December 2024

 

12 December 2024

REGIONAL REIT Limited

("Regional REIT", the "Group" or the "Company")

Borrowings Further Reduced

Regional REIT Limited (LSE: RGL), the regional property specialist, is pleased to announce the repayment of £33.4m of borrowings, ahead of schedule. The repayment is £7.1m above the expected £26.3m earmarked from the successful July 2024 equity capital raise.

The additional repayment has been sourced from the property disposal programme. The aggregate Company borrowings have now reduced to £319.9m (as at 11 December 2024).

Stephen Inglis, Head of ESR Europe LSPIM, Asset Manager commented:

"The Company is pleased to announce that borrowings have been reduced, ahead of schedule, to £319.9m. The Company continues to focus upon the asset disposal programme, leverage reduction and driving shareholder value by undertaking accretive capital expenditure to provide vibrant spaces for our current and potential tenants."

Forthcoming Events

20 February 2025	Q4 2024 Dividend Declaration and Portfolio Valuation
25 March 2025	Full year 2024 Preliminary Results Announcement
15 May 2025	May 2025 Trading Update and Outlook Announcement
	Q1 2025 Dividend Declaration Announcement
15 May 2025	Annual General Meeting

Note: All dates are provisional and subject to change

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Enquiries:

Regional REIT Limited
Press enquiries through Burson Buchanan
ESR Europe Private Markets Limited	Tel: [phone]
Investment Adviser to the Group
Adam Dickinson, Investor Relations, Regional REIT Limited
ESR Europe LSPIM Limited	Tel: [phone]
Asset Manager to the Group
Stephen Inglis
Burson Buchanan Communications	Tel: [phone]
Financial Communications
Charles Ryland, Henry Wilson, Sam Adams

About Regional REIT

Regional REIT Limited ("Regional REIT" or the "Company") and its subsidiaries (the "Group") is a United Kingdom ("UK") based real estate investment trust that launched in November 2015. It is managed by ESR Europe LSPIM Limited, the Asset Manager, and ESR Europe Private Markets Limited, the Investment Adviser.

Regional REIT's commercial property portfolio is comprised wholly of income producing UK assets and comprises, predominantly of offices located in the regional centres outside of the M25 motorway. The portfolio is geographically diversified, with 131 properties, 1,303 units and 808 tenants as at 30 September 2024, with a valuation of c.£648.8m.

Regional REIT pursues its investment objective by investing in, actively managing and disposing of regional Core and Core Plus Property assets. It aims to deliver an attractive total return to its Shareholders, targeting greater than 10% per annum, with a strong focus on income supported by additional capital growth prospects.

The Company's shares were admitted to the Official List of the UK's Financial Conduct Authority and to trading on the London Stock Exchange on 6 November 2015. For more information, please visit the Group's website at www.regionalreit.com.

LEI: 549300D8G4NKLRIKBX73

 

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