Last checked at 
22 May 2013 08:00
To: RNS Company Announcements
Date: 22 May 2013
Company: Target Healthcare REIT Limited
Subject: Net Asset Value
Net Asset Value
Following its listing on 7 March 2013, the Company is pleased to announce that its unaudited net asset value ('NAV') per share as at 31 March 2013 was 94.7 pence. As at 31 March 2013 the Company had acquired seven care homes for an aggregate consideration of £32.2 million and had cash balances of approximately £12.3 million.
The NAV has been calculated under International Financial Reporting Standards ('IFRS'). It is based on the external valuation of the Company's property portfolio prepared by Colliers Limited.
The next quarterly valuation of the property portfolio will be conducted by an external valuer during June 2013 and the NAV per share as at 30 June 2013 will be announced in August 2013.
In accordance with the Prospectus dated 22 February 2013, the Company expects to declare its first dividend in August 2013. The NAV includes income and no provision for an accrued dividend has been made.
Enquiries:
Kenneth MacKenzie
Target Advisers
01786 406 581
Graeme Caton
Winterflood Securities
020 3100 0268