10 Apr 2018 17:10
10 April 2018
Secure Income REIT Plc
(the "Company")
POSTING OF ANNUAL REPORT AND ACCOUNTS AND NOTICE OF ANNUAL GENERAL MEETING
Secure Income REIT Plc (AIM: SIR), the specialist long term income REIT, announces that the Company's Annual Report and Accounts, containing the results for the year ended 31 December 2017 that were announced on 9 March 2018 and the Notice of the Company's Annual General Meeting ("AGM"), has been posted to shareholders today and is available in the Investor Centre on the Company's website at www.SecureIncomeREIT.co.uk
The AGM of the Company will be held at Cavendish House, 18 Cavendish Square, London W1G 0PJ at 9.30am on Monday 21 May 2018.
For further information on the Company, please contact:
Secure Income REIT Plc | +44 20 7647 7647 |
Sandy Gumm | enquiries@SecureIncomeREIT.co.uk |
Stifel Nicolaus Europe Limited (Nominated Adviser & Broker) | +44 20 7710 7600 stifelsecureincomereit@stifel.com |
Mark Young David Arch | |
Tom Yeadon
| |
Newgate (PR Adviser) | +44 20 7680 6550 |
James Benjamin | sir@newgatecomms.com |
Anna Geffert Patrick Hanrahan Leena Patel |
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 2017, the Company's investment property portfolio was valued at £1.77 billion, producing £95.7 million per annum of rental income from long term leases with a weighted average unexpired term to expiry of over 22 years. All rental income is subject to fixed or RPI upwards only rent reviews.
On 9 March 2018, the Company exchanged contracts to acquire two off-market portfolios at a total cost of £436 million. The acquisitions include Manchester Arena, the UK's largest indoor entertainment arena, 76 Travelodge hotels and The Brewery on Chiswell Street, the largest catered event space in the City of London. To finance the acquisitions, the Company successfully raised gross proceeds of £315.5 million in a significantly oversubscribed Placing of 86,438,000 Ordinary Shares, completing the Placing over a week earlier than planned following strong investor demand. New secured non-recourse debt facilities of c. £128.7 million at c.30% loan to cost have also been agreed.
Following completion of the Acquisitions, the Enlarged Group will own approximately £2.2 billion of investment property with a weighted average unexpired lease term of some 22 years. The Acquisitions further diversify the Group's resilient portfolio of 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 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 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