Secure Income REIT PLC Novation of investment advisory agreement (3921W)
December 10 2019 - 6:22AM
UK Regulatory
TIDMSIR
RNS Number : 3921W
Secure Income REIT PLC
10 December 2019
10 December 2019
Secure Income REIT Plc
(the "Company")
Novation of investment advisory agreement
The independent directors of Secure Income REIT Plc have
approved the novation of the Company's Investment Advisory
Agreement from Prestbury Investments LLP to Prestbury Investment
Partners Limited, which has taken effect today. Prestbury's
management activities are transferring from a limited liability
partnership to a newly incorporated limited company, under exactly
the same ownership and with access to the same resources, staff and
insurance.
The contractual arrangements in the Investment Advisory
Agreement including fees, term, key persons and service provision
remain completely unchanged.
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
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 Partners
Limited, owned by the team which advised Max Property Group plc
until August 2014, when all of the assets of Max Property Group plc
were sold to Blackstone Group. Prestbury is owned and run by a team
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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