TIDMSOHO

RNS Number : 4035U

Triple Point Social Housing REIT

06 April 2021

6 April 2021

Triple Point Social Housing REIT plc

(the "Company" or, together with its subsidiaries, the "Group")

PURCHASE OF ORDINARY SHARES UNDER THE INVESTMENT MANAGEMENT AGREEMENT

The Company announces that, in accordance with the terms of the Investment Management Agreement with Triple Point Investment Management LLP ("Triple Point" or the "Investment Manager"), pursuant to which the Investment Manager shall procure that 25 per cent. of the management fee (net of applicable tax) shall be applied by subscribing for or acquiring Ordinary Shares in the capital of the Company ("Management Shares"), the Investment Manager purchased 250,042 Ordinary Shares in the market at an average price of 102.50 pence on 31 March 2021. This purchase of Management Shares on 31 March 2021 was made by Perihelion One Limited ("Perihelion"), a company in the Triple Point Group.

In March 2021, the Investment Manager introduced a Product Ownership Scheme, under which partners and employees of Triple Point are able to use some or all of their discretionary remuneration to acquire Ordinary Shares from the Investment Manager. The partners and employees of Triple Point are subject to the Triple Point Personal Account Dealing Code which governs the ability of such individuals to deal in the Ordinary Shares. Under the scheme employees are incentivised to hold the Ordinary Shares for at least 12 months but are not subject to any formal lock-in arrangements.

Following the acquisition of the Management Shares, Perihelion will transfer a total of 421,136 Ordinary Shares to partners and employees under the Product Ownership Scheme.

As a result, the Investment Manager and its staff hold a total of 2,346,275 Ordinary Shares in the Company*.

* In respect of Triple Point partners and employees, these figures only include Management Shares acquired from Perihelion and not Ordinary Shares otherwise acquired by such individuals .

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

 
 Triple Point Investment Management       Tel: 020 7201 8989 
  LLP 
  (Investment Manager) 
 Max Shenkman 
 Isobel Gunn-Brown 
 
 Akur Capital (Joint Financial Adviser)   Tel: 020 7493 3631 
 Tom Frost 
 Anthony Richardson 
 Siobhan Sergeant 
 
 Stifel (Joint Financial Adviser          Tel: 020 7710 7600 
  and Corporate Broker) 
 Mark Young 
 Mark Bloomfield 
 Rajpal Padam 
 

The Company's LEI is 213800BERVBS2HFTBC58.

Further information on the Company can be found on its website at www.triplepointreit.com .

NOTES:

The Company invests in primarily newly developed social housing assets in the UK, with a particular focus on supported housing. The assets within the portfolio are subject to inflation-adjusted, long-term (typically from 20 years to 30 years), Fully Repairing and Insuring ("FRI") leases with Approved Providers (being Housing Associations, Local Authorities or other regulated organisations in receipt of direct payment from local government). The portfolio comprises investments into properties which are already subject to an FRI lease with an Approved Provider, as well as forward funding of pre-let developments but does not include any direct development or speculative development.

There is increasing political and financial pressure on Housing Associations to increase their housing delivery and this is creating opportunities for private sector investors to participate in the market. The Group's ability to provide forward financing for new developments not only enables the Company to secure fit for purpose, modern assets for its portfolio but also addresses the chronic undersupply of suitable supported housing properties in the UK at sustainable rents as well as delivering returns to investors.

The Company was admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange on 8 August 2017 and was admitted to the premium segment of the Official List of the Financial Conduct Authority and migrated to trading on the premium segment of the Main Market on 27 March 2018. The Company operates as a UK Real Estate Investment Trust ("REIT") and is a constituent of the FTSE EPRA/NAREIT index.

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