Sigma Capital Group PLC Update (9485A)
March 30 2017 - 1:01AM
UK Regulatory
TIDMSGM
RNS Number : 9485A
Sigma Capital Group PLC
30 March 2017
30 March 2017
AIM: SGM
Sigma Capital Group plc
("Sigma" or the "Company")
The private rented sector ("PRS") and urban regeneration
specialist
Re plans to launch an independent long-term holding vehicle
The Board of Sigma is pleased to announce that it is progressing
plans for the possible launch and flotation of an independent real
estate investment trust (the "REIT"), in line with its stated
intention in its half yearly report to explore a long-term holding
vehicle into which the Company can sell its developed PRS assets,
recycle its capital and significantly scale its self-funded PRS
delivery. The Homes and Communities Agency (the "HCA") has agreed
in principle to support the REIT through direct investment in the
possible flotation.
The proposed REIT would be managed by Sigma and invest
predominantly in Private Rented Sector housing in the main English
conurbations, and largest employment centres, outside of London. It
is also intended that the REIT develops assets utilising Sigma's
PRS platform.
Sigma's PRS platform is recognised as being at the forefront of
the PRS property sector with approximately 1,100 units currently
built, let and under management.
N+1 Singer Advisory LLP has been appointed to assist with the
process, with a view to launching the REIT during the second
quarter of 2017.
The Company's full year results will be announced towards the
end of April.
Enquiries:
Sigma Capital Graham Barnet, Chief T: 020 3178 6378
Group plc Executive (today)
Malcolm Briselden, T: 0333 999 9926
Finance Director
KTZ Communications Katie Tzouliadis, T: 020 3178 6378
Emma Pearson
N+1 Singer James Maxwell, Michael T: 020 7496 3000
(NOMAD and Broker) Taylor, Liz Yong
About Sigma Capital Group plc
www.sigmacapital.co.uk
Sigma is a private rented sector, residential development, and
urban regeneration specialist, with offices in Edinburgh,
Manchester and London. Sigma's principal focus is on the delivery
of large scale housing schemes for the private rented sector. It
has a well-established track record in assisting with
property-related regeneration projects in the public sector, acting
as a bridge between the public and private sectors.
This information is provided by RNS
The company news service from the London Stock Exchange
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