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25 Jan 2019 16:39
25 January 2019
CIVITAS SOCIAL HOUSING PLC
("Civitas" or the "Company")
Bespoke Supportive Tenancies LTD ("BeST") Housing Association - Grading Under Review
The Regulator of Social Housing ("RSH") has this afternoon issued a grading under review notice in respect of BeST, one of the 15 housing associations working with Civitas.
As at 31 December 2018, BeST represents 4.3% of the Civitas NAV and 3.1% of the Civitas GAV (based upon 35% leverage target).
As at 25 January 2019, BeST remains fully up to date with all lease payments due to Civitas and this is expected to continue to be in the future.
The RSH announced in May 2018 a general review of housing associations engaged in the provision of property services for vulnerable people.
BeST provides accommodation for adults with learning disabilities, physical disabilities, sensory impairment, mental health and homelessness and was originally registered as a not-for-profit housing association in 2010.
Civitas will issue a further announcement at the time that the RSH itself makes any further comment.
For further information, please contact:
Civitas Housing Advisors Limited
Paul Bridge Tel: +44 (0)20 3058 4844
Andrew Dawber Tel: +44 (0)20 3058 4846
Cenkos Securities PLC
Sapna Shah Tel: +44 (0)20 7397 1922
Tom Scrivens Tel: +44 (0)20 7397 1915
Pagefield
Laurence Jones Tel: +44 (0)7966 926747
David Leslie Tel: +44 (0)7584 070274
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 advised by Civitas Housing Advisors Limited, who are authorised and regulated by the Financial Conduct Authority under Firms Reference Number 815699. 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. The company is a constituent of the FTSE 250 index.
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