Secure Income REIT PLC Director/PDMR Shareholding (1278Q)
October 16 2019 - 9:10AM
UK Regulatory
TIDMSIR
RNS Number : 1278Q
Secure Income REIT PLC
16 October 2019
16 October 2019
Secure Income REIT Plc
(the "Company")
Director/PDMR Interest in Shares
The Board of the Company has been notified of a sale in the
market of 5,616,616 shares in Secure Income REIT Plc today by PIHL
Property LLP, undertaken to facilitate the exit of Secure Income
REIT Plc shares formerly held by Nigel Wray as part of his
succession and estate planning. Mr Wray held a non-executive
position in the management of PIHL Property LLP. The shares were
sold at an average price of 420.0 pence per share.
PIHL Property LLP is connected to the Prestbury management team,
the external adviser to the Company, which has confirmed that
following the sale, the holding in Secure Income REIT Plc of the
executive team (Nick Leslau, Mike Brown, Tim Evans, Sandy Gumm and
Ben Walford) remains unchanged.
The Prestbury management team holding totals 12.0% (of which a
5.2% interest is held through PIHL Property LLP), worth some GBP170
million, one of the largest percentage and absolute management
holdings in the listed UK real estate sector.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name PHIL Property LLP
--------------------------------------- -----------------------------------
2 Reason for the notification
----------------------------------------------------------------------------
a) Position/status PCA of Nick Leslau (Director)
--------------------------------------- -----------------------------------
b) Initial notification Initial
/Amendment
--------------------------------------- -----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name Secure Income REIT Plc
--------------------------------------- -----------------------------------
b) LEI 213800M1VI451RU17H40
--------------------------------------- -----------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
----------------------------------------------------------------------------
a) Description of the Ordinary shares
financial instrument,
type of instrument
Identification code GB00BLMQ9L68
b) Nature of the transaction Disposal
c) Price(s) and volume(s)
--------------- ---------------
Price(s) Volume(s)
--------------- ---------------
420.0p 5,616,616
--------------- ---------------
d) Aggregated information
- Aggregated volume GBP 23,589,787
- Price 420.0p
e) Date of the transaction 16 October 2019
f) Place of the transaction London Stock Exchange
--------------------------------------- -----------------------------------
Ends
For further information on the Company, please contact:
Secure Income REIT Plc +44 20 7647 7647
Nick Leslau enquiries@SecureIncomeREIT.co.uk
Sandy Gumm
Stifel Nicolaus Europe Limited
(Nominated Adviser) +44 20 7710 7600
Stewart Wallace stifelsecureincomereit@stifel.com
Tom Yeadon
FTI Consulting
(PR Adviser) +44 20 3727 1000
Dido Laurimore SecureIncomeREIT@fticonsulting.com
Claire Turvey
Eve Kirmatzis
About Secure Income REIT Plc
Secure Income REIT specialises in generating long term,
inflation protected, secure income from real estate investments.
Its investment strategy is designed to satisfy investors' growing
requirements for high quality, safe, inflation protected income
flows.
At 30 June 2019, the Group's investment property portfolio
(adjusted for the sale of eight hospitals after the balance sheet
date) was valued at GBP2.1 billion, producing GBP111.1 million per
annum of rental income from long term leases with a weighted
average unexpired term to expiry of 21.5 years with no breaks. All
rental income is subject to fixed uplifts or RPI upwards only rent
reviews with 59% of rental income subject to RPI linked reviews and
41% having fixed uplifts.
The Group's portfolio comprises key operating assets let to
strong businesses in defensive sectors with high barriers to entry.
The RPI-linked rent reviews and fixed rental uplifts combine with
fixed cost debt to drive healthy dividend growth, creating
attractive and predictable returns.
The Company is advised by Prestbury Investments LLP which was
adviser to Max Property Group plc until August 2014, when all of
the assets of Max Property Group plc were sold to Blackstone Group.
Prestbury Investments LLP is a partnership of real estate and
finance professionals including Nick Leslau, Mike Brown, Tim Evans,
Ben Walford and Sandy Gumm.
The Company's Board is chaired by Martin Moore together with
three further independent Directors: Leslie Ferrar, Jonathan Lane
and Ian Marcus, as well as three members of the Prestbury Team:
Nick Leslau, Mike Brown and Sandy Gumm.
The Company is a UK REIT which floated on the AIM market of the
London Stock Exchange in June 2014.
The Company's LEI is 213800M1VI451RU17H40
Further information on Secure Income REIT is available at
www.SecureIncomeREIT.co.uk.
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END
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