Purchase of Management Shares

RNS Number : 5387G

Triple Point Social Housing REIT

18 March 2020

 

18 March 2020

Triple Point Social Housing REIT plc

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

PURCHASE OF ORDINARY SHARES UNDER THE DELEGATED PORTFOLIO MANAGEMENT AGREEMENT

The Company announces that, in accordance with the terms of the Delegated Portfolio Management Agreement with Triple Point Investment Management LLP (the "Investment Manager") pursuant to which, the Investment Manager shall procure that 25 per cent. of the management fee (net of applicable tax) shall be applied by subscribing for or acquiring Ordinary Shares in the capital of the Company ("Management Shares"), the Investment Manager purchased 325,853 Ordinary Shares at an average price of 74.4199 pence on 17 March 2020.

The purchase was made by Perihelion One Limited (a company in the Triple Point Group), following which the Investment Manager holds 1,872,084 shares in the Company.

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

Triple Point Investment Management LLP (Delegated Investment Manager)	Tel: [phone]
James Cranmer
Ben Beaton
Max Shenkman
Hanway Advisory Limited (Company Secretary)	Tel: [phone]
Luke Cheshire
Akur Capital (Financial Adviser)	Tel: [phone]
Tom Frost
Anthony Richardson
Siobhan Sergeant

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 primarily newly developed 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 pressure and social need to increase housing supply across the UK which is creating opportunities for private sector investors to help deliver this housing. The Group's ability to provide forward funding 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 as well as 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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