APPOINTMENT OF NON-EXECUTIVE DIRECTOR

RNS Number : 6780C

Triple Point Social Housing REIT

02 October 2018

 

2 October 2018

Triple Point Social Housing REIT plc

(the "Company" or, together with its subsidiaries, the "Group")

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

Triple Point Social Housing REIT plc (ticker: SOHO), the specialist REIT that invests in primarily newly developed social housing assets in the UK (let or pre-let to Approved Providers), with a particular focus on supported housing, is pleased to announce the appointment of Tracey Fletcher-Ray as a non-executive director with effect from 1 November 2018. Tracey will also be appointed as a member of Board committees following her appointment.

Tracey brings considerable expertise as an executive and non-executive in the care and support sectors. Tracey is currently non-executive director to L&Q Group, one of the UK's largest Housing Associations and developers, and Managing Director of Caring Homes, a leading provider of care homes for the elderly. From February 2016, Tracey spent nearly two years as Managing Director at Berendsen PLC, a leading European textile service business, where she was in charge of developing the company's healthcare business, strategy and growth.

From 2006, Tracey spent eight years at Bupa UK, holding Managing Director roles in the Care Home business (North of England and Scotland) which involved contracting with and providing services on behalf of local authorities and the NHS, and Bupa Health Clinics, operating as a member of the Bupa UK Board , where she spearheaded the transformation and modernisation agenda to help ensure that the £2.8 billion revenue business was repositioned and delivering on its strategic goals.

Tracey also spent six years at Barclays Bank PLC (2001-06) as Commercial Director of Home Finance and Board Director of Procurement and 13 years at ICI PLC, a chemical manufacturer, latterly as Managing/Commercial Director.

Christopher Phillips, Chairman of Triple Point Social Housing REIT plc, commented:

"We are delighted to welcome Tracey to the Board. We are confident that her substantial understanding of the Supported Housing market and care sector alongside her strategic business acumen will prove invaluable to the Company as we continue to focus on delivering long-term value to our shareholders and high quality, long term homes for some of the most vulnerable members of our society, at sustainable rents."

The Company confirms there is no further information to be disclosed pursuant to LR 9.6.13.

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

Triple Point Investment Management LLP (Delegated Investment Manager)	(via Newgate below)
James Cranmer
Ben Beaton
Max Shenkman
Akur Limited (Joint Financial Adviser)	Tel: [phone]
Tom Frost
Anthony Richardson
Siobhan Sergeant
Canaccord Genuity Limited (Joint Financial Adviser )	Tel: [phone]
Lucy Lewis
Denis Flanagan
Andrew Zychowski
Newgate (PR Adviser)	Tel: [phone]
James Benjamin	Em: [e-mail]
Anna Geffert

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 social housing assets in the UK, with a particular focus on supported housing. The assets within the portfolio are subject to inflation-adjusted, long-term (typically from 20 years to 30 years), 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 an FRI 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 and financial pressure on Housing Associations to increase their housing delivery and this is creating opportunities for private sector investors to participate in the market. The Group's ability to provide forward financing 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 and delivering returns to investors.

Triple Point Investment Management LLP (part of the Triple Point Group) is responsible for management of the Group's portfolio (with such functions having been delegated to it by Langham Hall Fund Management LLP, the Company's alternative investment fund manager).

The Company was admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange on 8 August 2017 and was admitted to the premium segment of the Official List of the Financial Conduct Authority and migrated to trading on the premium segment of the Main Market on 27 March 2018.  The Company operates as a UK Real Estate Investment Trust ("REIT") and is a constituent of the FTSE EPRA/NAREIT index.

 

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