REG - Regional REIT Ltd - Borrowings Further Reduced

Regional REITAnnouncement

12/12/2024 07:00

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RNS Number : 7502P  Regional REIT Limited  12 December 2024

12 December 2024

REGIONAL REIT Limited

("Regional REIT", the "Group" or the "Company")

Borrowings Further Reduced

 

Regional REIT Limited (LSE: RGL), the regional property specialist, is pleased
to announce the repayment of £33.4m of borrowings, ahead of schedule. The
repayment is £7.1m above the expected £26.3m earmarked from the successful
July 2024 equity capital raise.

 

The additional repayment has been sourced from the property disposal
programme. The aggregate Company borrowings have now reduced to £319.9m (as
at 11 December 2024).

 

Stephen Inglis, Head of ESR Europe LSPIM, Asset Manager commented:

"The Company is pleased to announce that borrowings have been reduced, ahead
of schedule, to £319.9m. The Company continues to focus upon the asset
disposal programme, leverage reduction and driving shareholder value by
undertaking accretive capital expenditure to provide vibrant spaces for our
current and potential tenants."

 

 

Forthcoming Events

 

 20 February 2025  Q4 2024 Dividend Declaration and Portfolio Valuation
 25 March 2025     Full year 2024 Preliminary Results Announcement
 15 May 2025       May 2025 Trading Update and Outlook Announcement
                   Q1 2025 Dividend Declaration Announcement
 15 May 2025       Annual General Meeting

 

Note: All dates are provisional and subject to change

 

- ENDS -

 

Enquiries:

 

 Regional REIT Limited
 Press enquiries through Burson Buchanan

 ESR Europe Private Markets Limited                         Tel: +44 (0) 203 831 9776
 Investment Adviser to the Group
 Adam Dickinson, Investor Relations, Regional REIT Limited

 ESR Europe LSPIM Limited                                   Tel: +44 (0) 141 248 4155
 Asset Manager to the Group
 Stephen Inglis

 Burson Buchanan Communications                             Tel: +44 (0) 20 7466 5000
 Financial Communications
 Charles Ryland, Henry Wilson, Sam Adams

 

About Regional REIT

Regional REIT Limited ("Regional REIT" or the "Company") and its
subsidiaries (the "Group") is a United Kingdom ("UK") based real estate
investment trust that launched in November 2015. It is managed by ESR Europe
LSPIM Limited, the Asset Manager, and ESR Europe Private Markets Limited, the
Investment Adviser.

 

Regional REIT's commercial property portfolio is comprised wholly of income
producing UK assets and comprises, predominantly of offices located in the
regional centres outside of the M25 motorway. The portfolio is geographically
diversified, with 131 properties, 1,303 units and 808 tenants as at 30
September 2024, with a valuation of c.£648.8m.

 

Regional REIT pursues its investment objective by investing in, actively
managing and disposing of regional Core and Core Plus Property assets. It aims
to deliver an attractive total return to its Shareholders, targeting greater
than 10% per annum, with a strong focus on income supported by additional
capital growth prospects.

 

The Company's shares were admitted to the Official List of
the UK's Financial Conduct Authority and to trading on the London Stock
Exchange on 6 November 2015. For more information, please visit the Group's
website at www.regionalreit.com (http://www.regionalreit.com/) .

 

LEI: 549300D8G4NKLRIKBX73

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