Conversion of 2.50% guaranteed convertible bonds

RNS Number : 8773I

Unite Group PLC

22 June 2017

 

22 June 2017

THE UNITE GROUP PLC

("Unite Students", "Unite", the "Group", or the "Company")

CONVERSION OF 2.50% GUARANTEED CONVERTIBLE BONDS DUE 2018

Further to the announcement on 16 May 2017 in relation to the early redemption of the 2.50% guaranteed convertible bonds due 2018 (the "Bonds"), Unite has now received notices from 100% of the Bondholders confirming they will be taking up their conversion rights in full. 

This conversion results in the issue of 18,593,589 ordinary shares in The Unite Group plc, all of which have now been issued. Following the allotment of the above shares, the issued share capital now stands at 240,734,897ordinary shares.

-ENDS-

For further information, please contact:

Unite Students Joe Lister, Chief Financial Officer Paul Richmond, Corporate Affairs Director	Tel: [phone]
Bell Pottinger Victoria Geoghegan Nick Lambert Elizabeth Snow	Tel: [phone]

Notes to editors:

Unite Students is the UK's largest and most established manager and developer of purpose-built student accommodation. It provides a home for around 50,000 students, in more than 140 properties, across 28 leading university cities in England and Scotland. Unite works in partnership with more than 60 Higher Education institutions and also lets rooms directly to students.

Unite's purpose is to provide a home to its culturally-diverse customers, offering them a strong foundation for academic and personal success. The accommodation is high quality, safe and close to university campuses, transport links and local amenities. Students live in ensuite study bedrooms with rents covering all bills, insurance, 24-hour security, fortnightly cleaning of communal kitchens and bathrooms and high-speed Wi-Fi.

Founded in 1991 in Bristol, The Unite Group plc is an FTSE250 company, listed on the London Stock Exchange, employing more than 1,250 people. It pursues a sustainable growth strategy, designed to make the most of the resilient nature of the student accommodation sector. Unite is focused on maintaining its position as the leading provider of student accommodation in the UK, by having the best brand, operating the highest quality portfolio and maintaining the strongest capital structure in the sector. This is achieved with consistent investment in, and improvement to, the operating platform; highly selective development activity and asset management initiatives.

Unite is invested in and operates two specialist funds and joint ventures with institutional investment partners, the £2 billion Unite UK Student Accommodation Fund (USAF) and the £1 billion London Student Accommodation Vehicle (LSAV).

Unite is the founder and major donor of the Unite Foundation. Since 2012 this has provided free student accommodation and financial support to 160 young people in the UK who lack family support.

For more information, you can visit Unite's corporate website www.unite-group.co.uk, the student site www.unite-students.com or the Unite Foundation www.unitefoundation.co.uk.

LEI: 213800BBUUWVDH9YI827 

 

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