Response to RSH

RNS Number : 8019O

Civitas Social Housing PLC

11 February 2021

 

11 February 2021

CIVITAS SOCIAL HOUSING PLC

Pivotal Housing Association - Grading Under Review

The Board of Civitas Social Housing PLC   ("CSH", "Civitas" or the "Company") , the   leading care-based social housing REIT, notes that the Regulator of Social Housing ("RSH") has today issued a 'grading under review' notice in respect of Pivotal Housing Association ("Pivotal"), one of the 16 approved providers working with Civitas.

Pivotal represents 3.96% of Civitas' rent roll and remains fully up to date with all lease payments due to the Company and this is expected to continue to be the case.

The RSH announced in May 2018 a general review of housing associations engaged in the provision of property services for vulnerable people.

Pivotal Housing Association is dedicated to providing outstanding homes in the community for working age adults with long-term care needs. Pivotal offers vulnerable people the opportunity of a better quality and more independent life.

Civitas will issue a further announcement at the time that the RSH makes an additional comment.

ENDS

For further information, please contact:

Civitas Investment Management Limited

Paul Bridge                                       Tel: [phone]

Andrew Dawber                                   Tel: [phone]

Panmure Gordon

Sapna Shah                                           Tel: [phone]

Tom Scrivens Tel: [phone]

Liberum Capital Limited

Gillian Martin / Chris Clarke Tel: [phone]

Buchanan

Helen Tarbet / Henry Wilson   Tel: [phone]

Hannah Ratcliff / George Beale    [e-mail]

Notes:

Civitas Social Housing PLC (CSH) was created in 2016 by Civitas Investment Management Limited as the first dedicated London listed REIT, to raise long-term, sustainable, institutional capital to invest in care-based social homes across the UK. So far, CSH has completed more than 120 individual transactions to build the largest portfolio of its kind that has been independently valued on an IFRS basis at £901.1million. CSH provides homes for 4,295 working age adults with long-term care needs, in 619 bespoke properties that are supported by 118 specialist care providers, 16 approved providers over 164 individual local authority areas.

 

END

 

 

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