Net Asset Value(s)

RNS Number : 0864L

Target Healthcare REIT Limited

07 August 2013

 



To:                   RNS Company Announcements

Date:                7 August 2013

Company:        Target Healthcare REIT Limited

Subject:           Net Asset Value

Net Asset Value

The Company is pleased to announce that its unaudited net asset value ('NAV') per share as at 30 June 2013 was 96.0 pence.  This is an increase of 1.4% from the NAV per share as at 31 March 2013.  As at 30 June 2013 the Company owned seven care homes with a market value of £32.0 million and had cash balances of approximately £16.9 million.

Analysis of movement in NAV

The following table provides an analysis of the movement in the unaudited NAV per share for the period from 31 March 2013 to 30 June 2013

	Pence per share	% of opening NAV
NAV per share as at 31 March 2013	94.7
Unrealised movement in value of property portfolio	0.0	0.0
Movement in revenue reserve	0.1	0.1
Movement due to share issue	1.2	1.3
NAV per share as at 30 June 2013	96.0	1.4

The NAV has been calculated under International Financial Reporting Standards ('IFRS'). It is based on the external valuation of the Company's property portfolio prepared by Colliers Limited.

The next quarterly valuation of the property portfolio will be conducted by Colliers Limited during September 2013 and the NAV per share as at 30 September 2013 will be announced in October 2013.

The Company expects to announce its interim results for the 6 months period from incorporation on 22 January 2013 to 22 July 2013 during September 2013.

In accordance with the Prospectus dated 22 February 2013, the Company recently announced its first interim dividend for payment in August 2013. The 30 June NAV includes income and no provision for an accrued dividend has been made.

Enquiries:

Kenneth MacKenzie

Target Advisers

01786 406 581

Graeme Caton

Winterflood Securities

020 3100 0268

 

END

 

 

NAVZQLFBXVFLBBD