TOC Property Backed Lendng Tst PLC Dividend Declaration (4569Z)
September 03 2018 - 1:00AM
UK Regulatory
TIDMPBLT
RNS Number : 4569Z
TOC Property Backed Lendng Tst PLC
03 September 2018
For release on 3 September 2018
TOC PROPERTY BACKED LENDING TRUST PLC
Dividend Declaration
The Board of Directors (the "Board") of TOC Property Backed
Lending Trust (the "Company" or "PBLT") has declared an interim
dividend of 1.75 pence per Ordinary Share in respect of the period
from 1 June 2018 to 31 August 2018.
Distribution period: 1 June 2018 - 31 August 2018
Distribution amount 1.75 pence
per share:
Ex-dividend date: 13 September 2018
Dividend record date: 14 September 2018
Payment date: 4 October 2018
In the absence of unforeseen circumstances, the Company expects
to declare:
-- quarterly dividends hereafter at an annualised 7% per annum
(calculated with reference to the IPO issue price) in respect of
the financial year.
The above dividend targets are targets only and not profit
forecasts. There can be no assurances that the targets can or will
be met and this should not be taken as an indication of the
Company's expected or future profitability.
Dividends are expected to be paid in the month following their
declaration.
For further information regarding the Company (Ticker: PBLT)
(LEI: 213800EXPWANYN3NEV68) please call:
TOC Property Backed Lending Trust PLC +44 (0) 191 222
Stephen Black 0099
Tier One Capital Ltd (Investment Adviser) +44 (0) 191 222
Ian McElroy 0099
finnCap Ltd (Sponsor, Broker and Financial
Adviser) +44 (0) 207 220
William Marle / Grant Bergman 0500
Maitland Administration Services (Scotland)
Limited (Secretary) +44 (0) 131 550
Martin Cassels 3765
Notes to Editors:
TOC Property Backed Lending Trust PLC is a closed-end investment
company. Its investment objective is to provide shareholders with a
consistent and stable income and the potential for an attractive
total return over the medium to long term while managing downside
risk through: (i) a diversified portfolio of fixed rate loans
predominantly secured over land and/or property in the UK; and (ii)
in many cases, receiving the benefit of an associated profit share
usually obtained by acquiring (at nil cost) a minority equity stake
in the relevant borrower project development vehicle.
The Company's investment adviser is Tier One Capital Limited
("Tier One" or the "Investment Adviser"). Tier One was launched by
former Barclays Wealth and Coutts & Co directors Stephen Black
and Ian McElroy in early 2013. Both Stephen and Ian have extensive
credit experience, much of which was gained in a difficult
financial climate. Tier One has developed a direct lending offering
that provides an opportunity which sits between conventional
lending and the emerging peer-to-peer platform market. Tier One
uses its direct lending and credit expertise to source funds for
borrowers, broker facility agreements and then offer continued
support and guidance to borrowers through the lifespan of their
loan.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DIVPBMITMBMJBFP
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