Publication of Independent Social Impact Report

RNS Number : 0381R

Civitas Social Housing PLC

12 June 2018

 

Publication of Independent Social Impact Report

12th June 2018

CIVITAS SOCIAL HOUSING PLC

("Civitas" or the "Company")

London, 12th June 2018: An independent report, published today by social advisory firm The Good Economy, examined the social impact of Civitas' work from its first investments in December 2016 to 1 June 2018.

Investment summary as at 1 June 2018:

-       Civitas had committed £493m to 43 portfolio investments with 12 Registered Providers, comprising 428 individual properties

-       Civitas had worked with 71 care providers to facilitate the provision of high-quality care for 2,758 people, the majority of whom have learning or physical disabilities and medium to high care needs

The Good Economy found that based on the investments as at the date of the Report:

-      40% of Civitas' purchased properties have been successfully brought into the social sector for the first time creating new homes for 1,237 people

-       67% of Civitas purchased properties are in the 40% most deprived local authorities in England and Wales

In the report, The Good Economy concluded:

"Civitas set out with a purpose of making a significant and positive contribution to the social housing sector. We have experienced at first-hand how the Civitas team are deeply committed to the long-term positive role Civitas and private capital can play in the sector.

The Good Economy's first full Impact Report demonstrates that Civitas is achieving its social objectives and delivering positive outcomes for vulnerable people."

Paul Bridge, Chief Executive of Civitas Housing Advisors, said: 

"We are very pleased to have worked again with The Good Economy as part of our continuing commitment to assess both the social as well as the economic benefits being delivered through the fund's investments.

Civitas, together with The Good Economy and other specialists, intend in due course to extend its work to further analyse and measure the social monetary value that successful impact investing delivers, aligned with industry reporting standards."

A full copy of The Good Economy's Civitas Social Housing PLC Social Impact Report 2018 can be downloaded at: http://civitassocialhousing.com/investor-relations/reports-and-publications/

The next Impact Report is expected to be published alongside the fund's interim report in respect of the six months to September 2018.

About Civitas

Civitas was admitted to the London Stock Exchange in November 2016 in a £350 million offering, with the aim of raising private capital to invest in social homes across England and Wales. A further £302 million was raised in November 2017 in the form of C Shares, which when fully invested, will be converted to Ordinary Shares.

The REIT provides long-term income to its shareholders while putting their capital to work for social benefit, increasing the provision of high-quality social housing to improve the quality of life of low-income and vulnerable people in social need.

For further information, please contact:

Civitas Housing Advisors Limited

Paul Bridge                            Tel: [phone]

Andrew Dawber                   Tel: [phone]

Cenkos Securities PLC

Sapna Shah                           Tel: [phone]

Tom Scrivens                        Tel: [phone]

Pagefield

Philip Dennis                        Tel: [phone]

David Leslie                          Tel: [phone]

Notes:

Civitas Social Housing PLC is the first Real Estate Investment Trust offering pure play exposure to social housing in England and Wales.  The Company is managed by Civitas Housing Advisors Limited.  The Company is listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in November 2016.

 

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