REG - Primary Health Props - Inclusion of PHP in FTSE/JSE Africa Index Series

Primary Health PropertiesAnnouncement

23/09/2024 07:00

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RNS Number : 1102F  Primary Health Properties PLC  23 September 2024

 For immediate release  23 September 2024

 

 

Primary Health Properties PLC

('PHP' or the 'Company')

 

Inclusion of PHP in the FTSE/JSE Africa Index Series

PHP, one of the UK's leading investors in modern primary healthcare
facilities, is pleased to announce that, following its secondary listing on
the Main Board of the Johannesburg Stock Exchange ("JSE") by way of an
introduction less than a year ago, it has now been included in a number of key
South African indices, including the prominent FTSE/JSE All Share index and
All Property index.  A full list can be found later in this announcement.

The inclusion comes at an exciting time for PHP, as the new Labour Government
in the UK has signalled the need for further capital investment in primary
care, and the Group continues to demonstrate its ability to deliver secure,
reliable earnings growth as the only REIT to offer a high proportion of income
funded by Government bodies at c.90%.

Mark Davies, Chief Executive Officer ("CEO") of PHP, commented:

"Achieving a place in the FTSE/JSE Africa Index Series is testimony to the
initiatives that we've launched to increase liquidity on the JSE and we look
forward to continuing to increase the tradability of the Company's shares. As
we continue to deliver growth for shareholders, we are excited by the prospect
of growing our South African investor base and providing the JSE investor
community with an opportunity to invest in a first-of-its-kind, United
Kingdom-based, primary healthcare-focused REIT and leading investor in modern
primary healthcare across the United Kingdom and the Republic of Ireland".

 

- Ends -

 

For further information contact:

 Mark Davies                                            Richard Howell

 Chief Executive Officer                                Chief Financial Officer

 Primary Health Properties PLC                          Primary Health Properties PLC

 Mark Court/Stephanie Whitmore/ Verity Parker

 Burson Buchanan

 T: +44 (0) 20 7466 5000

 E: php@buchanan.uk.com (mailto:php@buchanan.uk.com)

 

 

Notes to Editors

 

Indices list:-

 

 FTSE/JSE Index name  Index description
 All Share            The All Share Index represents 99% of the full market cap value of all
                      eligible securities listed on the Main Board of the JSE.
 All Property         The FTSE/JSE All Property Index consists of all constituents of the FTSE/JSE
                      Shareholder Weighted All Share Index which belong to the ICB Real Estate
                      Industry (35).
 Capped Property      The Capped Property Index comprises the top 20 liquid companies, by full
                      market cap, in the ICB Real Estate Industry (35), capped at 15% at each
                      quarterly review.
 Tradeable Property   The FTSE/JSE Tradable Property Index consists of the FTSE/JSE Large & Mid
                      Cap Index constituents of the FTSE/JSE All Property Index, which belong to the
                      ICB Real Estate Industry (35).

 

Notes to Editors

The above inclusions follow the recent quarterly review of the FTSE/JSE Africa
Index Series and are effective today, Monday 23 September 2024.

Primary Health Properties (LSE and JSE: PHP) is a leading investor in modern
primary healthcare properties across the UK and Ireland. Since listing on the
London Stock Exchange ("LSE") in 1998, it has created progressive returns for
shareholders through a combination of rental growth and capital appreciation,
generating 28 years of consecutive dividend growth.

 

Its primary listing is on the LSE (Equity shares (commercial companies)) and
it is included on the FTSE 250 Index. It has a secondary listing on the South
African JSE LIMITED ("JSE").

 

The Group owns and manages a £2.8 billion portfolio of healthcare assets that
generate strong, high quality rent roll of just under £153 million. Its
internal management team delivers sector leading financial management, with
the lowest peer cost ratios. In particular, PHP is positioned for growth in
the emerging Irish market following its 2023 acquisition of Axis Technical
Services, the Irish property management business.

 

PHP's long-term leases offer unique security with c.90% of rental income
directly or indirectly backed by the government, via the NHS in the UK or HSE
in Ireland. Growing and ageing patient populations are placing increasing and
significant pressure on the government's under-invested healthcare systems;
the provision of better front line primary care offers a proven solution. The
Board has a strong commitment to responsible growth and has set out a clear
plan to transition operational, development and asset management activities to
Net Zero Carbon by 2030.

 

Further information about PHP can be found here: https://www.phpgroup.co.uk/
(https://www.phpgroup.co.uk/)

 

Legal Entity Identifier: 213800Y5CJHXOATK7X11

 

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