REG - Triple Point Soc.Hsg - Purchase of Management Shares

Triple Point Social Housing REITAnnouncement

25/03/2024 10:00

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RNS Number : 1455I  Triple Point Social Housing REIT  25 March 2024

25 March 2024

 

Triple Point Social Housing REIT plc

(the "Company" or, together with its subsidiaries, the "Group")

PURCHASE OF ORDINARY SHARES UNDER THE INVESTMENT MANAGEMENT AGREEMENT

 

The Company announces that, in accordance with the terms of the Investment
Management Agreement with Triple Point Investment Management LLP ("Triple
Point" or the "Investment Manager"), pursuant to which the Investment Manager
shall procure that 25 per cent of the management fee (net of applicable tax)
shall be applied by subscribing for or acquiring Ordinary Shares in the
capital of the Company ("Management Shares"), the Investment Manager purchased
463,669 Ordinary Shares in the market at an average price of 60.05 pence on 22
March 2024. This purchase of Management Shares was made by Perihelion One
Limited ("Perihelion"), a company in the Triple Point Group.

 

In March 2021, the Investment Manager introduced a Product Ownership Scheme,
under which partners and employees of Triple Point are able to use some or all
of their discretionary remuneration to acquire Ordinary Shares from the
Investment Manager. The partners and employees of Triple Point are subject to
the Triple Point Personal Account Dealing Code which governs the ability of
such individuals to deal in the Ordinary Shares. Under the scheme, employees
are incentivised to hold the Ordinary Shares for at least 12 months but are
not subject to any formal lock-in arrangements.

 

Perihelion has transferred a total of 895,426 Ordinary Shares to partners and
employees under the Product Ownership Scheme. The Investment Manager and its
staff currently hold a total of 4,420,478 Ordinary Shares in the Company*.

 

 

(*) Figure only includes Management Shares acquired from Perihelion and not
Ordinary Shares otherwise acquired by such individuals.

 

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

 

 Triple Point Investment Management LLP                                         Tel: 020 7201 8989

 (Investment Manager)
 Max Shenkman
 Isobel Gunn-Brown

 Akur Limited (Joint Financial Adviser)                                         Tel: 020 7493 3631
 Tom Frost
 Anthony Richardson
 Siobhan Sergeant

 Stifel Nicolaus Europe Limited (Joint Financial Adviser and Corporate Broker)  Tel: 020 7710 7600
 Mark Young
 Rajpal Padam
 Madison Kominski

 Brunswick Group (Financial PR Adviser)                                         Tel: 020 7404 5959
 Nina Coad
 Robin Wrench
 Mara James

 

The Company's LEI is 213800BERVBS2HFTBC58.

 

Further information on the Company can be found on its website
at www.triplepointreit.com (http://www.triplepointreit.com/) .

 

NOTES:

 

The Company invests in primarily newly developed social housing assets in the
UK, with a particular focus on supported housing. The majority of the assets
within the portfolio are subject to inflation-linked, long-term, Fully
Repairing and Insuring ("FRI") leases with Approved Providers (being Housing
Associations, Local Authorities or other regulated organisations in receipt of
direct payment from local government). The portfolio comprises investments
into properties which are already subject to a lease with an Approved
Provider, as well as forward funding of pre-let developments but does not
include any direct development or speculative development.

 

The Company was admitted to trading on the Specialist Fund Segment of the Main
Market of the London Stock Exchange on 8 August 2017 and was admitted to the
premium segment of the Official List of the Financial Conduct Authority and
migrated to trading on the premium segment of the Main Market on 27 March
2018.  The Company operates as a UK Real Estate Investment Trust ("REIT") and
is a constituent of the FTSE EPRA/NAREIT index.

 

 

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