TIDMDRIP

RNS Number : 2591R

Drum Income Plus REIT PLC

05 March 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET

ABUSE REGULATION (EU NO. 596/2014) WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

5 March 2021

DRUM INCOME PLUS REIT PLC

LEI: 213800FG3PJGQ3KQH756

Company update and strategic review

The Board is pleased to report that the Group's property portfolio continues to perform well notwithstanding current market conditions. Since the beginning of the COVID pandemic the Group has collected in excess of 90% of the rent due and has completed certain asset management initiatives. Whilst the UK commercial property market and the Group's portfolio continue to face challenges, the recent progress in the vaccine roll-out and the anticipated lifting of the current lockdown does give reason for optimism and the Board and the investment manager expect to see returns on commercial property continue to improve.

However, since the Company's launch in 2015, the Group has failed to reach a scale that makes its shares attractive to a wider group of investors. This has created challenges in generating any meaningful liquidity in the shares and they continue to trade at a significant discount to their net asset value. Notwithstanding the recent optimism regarding the relaxation of lock down later this year, the Board sees no short or medium term prospects that the Company will be able to grow organically.

Accordingly, the Board has resolved to undertake a strategic review to consider the future of the Company, including options to realise the value in the Group's property portfolio. The Board intends to conclude its strategic review within a few months.

The Board has discussed its proposal with its investment manager and largest shareholder who are fully supportive of the Board's approach.

Enquiries:

Hugh Little, Chairman

DRIP.REIT@jtcgroup.com

Graeme Bone

Drum Real Estate Investment Management Ltd

07740653728

Douglas Armstrong

Dickson Minto, Sponsor

020 7649 6823

IMPORTANT INFORMATION

This announcement is released by Drum Income Plus REIT plc and the information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

This announcement may contain and the Company may make verbal statements containing "forward-looking statements" with respect to certain of the Company's plans and its current goals and expectations relating to its future financial condition, performance, strategic initiatives, objectives and results. Forward-looking statements sometimes use words such as "aim", "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", "seek", "may", "could", "outlook" or other words of similar meaning. By their nature, all forward-looking statements involve risk and uncertainty because they relate to future events and circumstances which are beyond the control of the Company.

As a result, the actual future financial condition, performance and results of the Company may differ

materially from the plans, goals and expectations set forth in any forward-looking statements. Any

forward-looking statements made in this announcement by or on behalf of the Company speak only as of the date they are made. The information contained in this announcement is subject to change

without notice and except as required by applicable law or regulation, the Company expressly disclaims any obligation or undertaking to publish any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in the Company's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statements are based.

Neither the content of the Company's website (or any other website) nor the content of any website

accessible from hyperlinks on the Company's website (or any other website) is incorporated into or

forms part of this announcement.

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March 05, 2021 02:00 ET (07:00 GMT)

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