9 Feb 2016 07:00
9 February 2016
Secure Income REIT Plc (the "Company")
Corporate Update
Further to the announcement of 29 September 2015, the Board continues to discuss with certain major shareholders how best to widen the Company's shareholder base through a potential sale of all or part of their shareholdings in the Company, and is now actively engaged in assisting them with this process, having appointed Stifel and Goldman Sachs to consider appropriate options.
The Board is supportive of this initiative and believes a broader shareholder base would help to create more liquidity in the Company's shares, ensure that the Company is better placed and has more flexibility to expand at the appropriate time, whilst enabling it to continue to qualify under UK REIT rules.
ENDS
Enquiries:
Secure Income REIT Plc | +44 20 7647 7647 |
Sandy Gumm |
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Stifel Nicolaus Europe Limited (Nominated Adviser) | +44 20 7710 7720 |
Mark Young David Arch |
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Tom Yeadon |
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Goldman Sachs | +44 20 7774 1000 |
Stephen Little |
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William Smiley |
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FTI Consulting | +44 20 3727 1000 |
Richard Sunderland |
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Claire Turvey |
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About Secure Income REIT
Secure Income REIT floated as a Real Estate Investment Trust on the AIM segment of the London Stock Exchange in June 2014. Upon Admission, the Company had a share price of 174p, representing a market capitalisation of £293 million, which has subsequently grown to in excess of £480 million.
The Company specialises in generating long term, inflation protected, secure income from real estate investments. Its investment strategy is designed to satisfy investors' growing requirements for high quality, safe, inflation protected income flows.
In its audited results for the period ended 31 December 2014 the Company reported gross assets of £1.63 billion and, with a weighted average unexpired lease term of 25 years across its portfolio, all with annual fixed or RPI rental uplifts, has one of the longest income profiles in quoted property sector. Subsequent to this, the Company completed the sale of Madame Tussauds for £332.5 million.
The Company's Board is chaired by Martin Moore and also comprises three further independent Directors in Leslie Ferrar, Jonathan Lane and Ian Marcus, as well as three members of the Prestbury Team in Nick Leslau, Mike Brown and Sandy Gumm.
The Company is externally managed by Prestbury Investments LLP which was also external manager to Max Property Group plc until August 2014, when was sold to Blackstone Group.