AIFM and Depositary Appointments

RNS Number : 5838R

Triple Point Social Housing REIT

01 July 2020

 

1 July 2020

Triple Point Social Housing REIT plc

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

AIFM AND DEPOSITARY APPOINTMENTS

The Board of Directors of Triple Point Social Housing REIT plc (ticker: SOHO) announces that, from 1 July 2020, Triple Point Investment Management LLP (to date, the Company's Delegated Investment Manager) has been appointed as the Company's Alternative Investment Fund Manager ("AIFM"), replacing the previous third-party provider. This will result in some improvements in operational efficiency, but in all other material respects, the provision and terms of service will be effectively unchanged.

The Company has also appointed a new third-party depositary, INDOS Financial Limited, for the purposes of Article 36 of the Alternative Investment Fund Managers Directive.

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

Triple Point Investment Management LLP (Investment Manager)	Tel: [phone]
Ben Beaton
Max Shenkman
Isobel Gunn-Brown
Akur Capital (Joint Financial Adviser)	Tel: [phone]
Tom Frost
Anthony Richardson
Siobhan Sergeant
Stifel (Corporate Broker and Joint Financial Adviser)	Tel: [phone]
Mark Young
Mark Bloomfield
Rajpal Padam

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-linked, 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.

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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