SIR.L Regulatory News (SIR)

28 March 2019

Secure Income REIT Plc

(the "Company")

Issue of Shares in connection with pre-existing arrangements

As disclosed in the Company's annual results announcement issued on 6 March 2019, the Company has an obligation to issue shares to the Company's Investment Adviser under arrangements entered into at the time of the Company's listing in June 2014. This follows the Company reporting total accounting return for the 2018 financial year of 11.9%, which is in excess of the shareholders' priority return hurdle. Consequently, the Company will issue 1,287,242 new ordinary shares of 10 pence each ("Shares") to Prestbury Incentives Limited.

Details of the calculation of the fee entitlement are disclosed in the Company's annual results announcement. Following the issue of the Shares, Prestbury Incentives will have a total shareholding in the Company of 19,059,132 ordinary shares, representing 5.9% of the Company's voting rights. The Shares received by Prestbury Incentives will not be permitted to be disposed for a minimum of 18 months and up to 42 months from 31 March 2019, save under certain limited circumstances including a sale of shares if required to fund payment of the tax liability arising on receipt of the fee. It is not currently intended that shares will be sold to meet the tax liability arising as the management team will finance the tax liability from their own cash resources. 

Application has been made for the 1,287,242 Shares to be admitted to trading on AIM and admission is expected to be effective at 8.00 a.m. on or around 29 March 2019.

Following the allotment of the Shares and in accordance with the Disclosure Guidance and Transparency Rules, the Company's issued voting ordinary share capital will comprise 322,850,595 ordinary shares. There are no Shares held in treasury. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the ordinary share capital of the Company under the Disclosure and Transparency Rules.

For further information on the Company, please contact:

About Secure Income REIT Plc

Secure Income REIT 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.

At 31 December 2018, the Group's investment property portfolio was valued at £2.3 billion, producing £125 million per annum of rental income from long term leases with a weighted average unexpired term to expiry of 20.9 years with no breaks. All rental income is subject to fixed uplifts or RPI upwards only rent reviews. The Group's portfolio comprises key operating assets let to strong businesses in defensive sectors with high barriers to entry. The RPI-linked rent reviews and fixed rental uplifts combine with fixed cost debt to drive healthy dividend growth, creating attractive and predictable returns.

The Company is advised by Prestbury Investments LLP which was adviser to Max Property Group plc until August 2014, when all of the assets of Max Property Group plc were sold to Blackstone Group. Prestbury Investments LLP is a partnership of real estate and finance professionals including Nick Leslau, Mike Brown, Tim Evans, Ben Walford and Sandy Gumm.

The Company's Board is chaired by Martin Moore together with three further independent Directors: Leslie Ferrar, Jonathan Lane and Ian Marcus, as well as three members of the Prestbury Team: Nick Leslau, Mike Brown and Sandy Gumm.

The Company is a UK REIT which floated on the AIM market of the London Stock Exchange in June 2014.

The Company's LEI is 213800M1VI451RU17H40

Further information on Secure Income REIT is available at www.SecureIncomeREIT.co.uk.