9 Jul 2018 09:30
RDI REIT P.L.C.
("RDI" or the "Company" or the "Group")
(Registration number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
LEI: 2138006NHZUMMRYQ1745
Director External Appointment
Pursuant to Listing Rule 9.6.14, the Company confirms that Robert Orr, Non-Executive Director of RDI, has been appointed as Chairman of the board of Tritax Eurobox PLC ("Tritax").
Robert was appointed Director and Chairman of Tritax on 5 June 2018, but the terms of his appointment only become effective today, 9 July 2018, being the date on which the shares of Tritax were admitted to trading on the LSE.
For further information, please contact:
RDI REIT P.L.C. | |
Mike Watters, Stephen Oakenfull | Tel: +44 (0) 20 7811 0100 |
FTI Consulting | |
UK Public Relations Adviser | |
Dido Laurimore, Claire Turvey, Ellie Sweeney | Tel: +44 (0) 20 3727 1000 |
Instinctif Partners | |
SA Public Relations Adviser | |
Frederic Cornet | Tel: +27 (0) 11 447 3030 |
JSE Sponsor | |
Java Capital | Tel: + 27 (0) 11 722 3050 |
About RDI
RDI is a FTSE 250 UK Real Estate Investment Trust (UK-REIT) committed to becoming the UK's leading income focused REIT. The Company's income-led business model and strategic priorities are designed to offer shareholders superior, sustainable and growing income returns, with a target growth in underlying earnings per share of 3%-5% across the medium term.
Income sustainability is underpinned by a diversified portfolio and tenant base, with no overreliance on any one sector or tenant, together with an efficient capital structure. The secure and growing income stream is 25.9% indexed and has a WAULT of 6.8 years to first break (8.2 years to expiry). This is complemented by an average debt maturity of 7.0 years of which over 90% of interest costs are either fixed or capped. The Company is focused on all aspects impacting shareholder distributions and reports one of the lowest cost ratios in the industry whilst maintaining a low cost of debt.
The Company owns properties independently valued at £1.6bn in the United Kingdom and Germany, Europe's two largest, liquid and transparent property markets. RDI invests in assets with strong property fundamentals spread across UK offices (including London serviced offices), UK logistics, UK shopping centres, UK retail parks, UK hotels and German retail. RDI is well placed to take advantage of the increasing occupier requirement for real estate owners to become high quality service providers, given its scalable operational platforms and nearly a third of the portfolio invested in hotels and London serviced offices.
RDI holds a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange and is included within the FTSE 250, EPRA, GPR, JSE All Property and JSE Tradeable Property indices.
For more information on RDI, please refer to the Company's website www.rdireit.com
All figures as at 28 February 2018