TOC Property Backed Lendng Tst PLC NAV at 29 February 2020 and Dividend Policy (1621P)
June 05 2020 - 10:04AM
UK Regulatory
TIDMPBLT
RNS Number : 1621P
TOC Property Backed Lendng Tst PLC
05 June 2020
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN OR INTO CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA
OR THE UNITED STATES OF AMERICA OR TO US PERSONS, OR TO ANY OTHER
JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
For release on 5 June 2020
TOC Property Backed Lending Trust PLC
(the "Company" or "PBLT")
Company Update
Quarterly Net Asset Value 29 February 2020
The Company announces that its unaudited Net Asset Value ("NAV")
per share as at 29 February 2020 on a cum-income basis was 82.95
pence (this represents a decrease of 0.96% on the net asset value
as at 30 November 2019).
Dividend Policy
The Board can confirm that an interim dividend of 1.5p per share
was distributed to all shareholders on 1 June 2020. The Board also
intends that the Company will make the required distributions to
continue to comply with the investment trust qualification
requirements for the current financial year, in which an investment
trust must not retain in respect of an accounting period an amount
which is greater than 15% of its income for the accounting
period.
Therefore, while no decision has yet been taken as to the timing
of dividend payments during the remainder of the financial year to
30 November 2020, shareholders can be assured that a balancing
dividend payment or payments would be declared over the coming
months, so as to at least fulfil the investment trust qualification
requirements described above.
For further information regarding the Company (Ticker: PBLT)
(LEI: 213800EXPWANYN3NEV68) please call:
Tier One Capital Ltd (Investment Adviser) +44 (0) 191 222
Ian McElroy/Brendan O'Grady 0099
finnCap Ltd (Broker and Financial Adviser) +44 (0) 207 220
William Marle / Giles Rolls 0500
Maitland Administration Services (Scotland) +44 (0) 1245 398
Limited (Secretary) 984
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.
Tier One Capital is a Newcastle upon Tyne headquartered wealth
management company and the appointed investment adviser to the TOC
Property Backed Lending Trust PLC. Tier One Capital has offices in
Newcastle, London and Switzerland, and specialises in providing
wealth management advice to high net worth individuals, corporates
and charities.
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
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