Circle Property PLC Death of a Director (7897K)
31 August 2019 - 3:20AM
UK Regulatory
TIDMCRC
RNS Number : 7897K
Circle Property PLC
30 August 2019
30 August 2019
Circle Property Plc
("Circle" or the "Company")
Death of a Director
It is with deep regret that Circle Property Plc (AIM: CRC),
announces that The Duke of Roxburghe, Non-executive Director, died
on 29 August 2019 following a long battle with cancer. The Board
extends its deepest condolences and sympathies to the Duke of
Roxburghe's family.
John Arnold, Chief Executive of Circle Property Plc, said:
"Guy was a very valued and admired member of the Circle Property
board and he will be sorely missed. We would like to extend our
sincere condolences to all his family."
+44 (0)207 930
Circle Property Plc 8503
John Arnold, CEO
Edward Olins, COO
+44 (0)207 397
Cenkos Securities 8900
Azhic Basirov
Katy Birkin
+44 (0)203 897
Radnor Capital 1830
Joshua Cryer
Iain Daly
+44 (0)203 757
Camarco 4992
Ginny Pulbrook
Tom Huddart
About Circle Property Plc
Circle is the best performing quoted UK real estate company by
NAV total return (NAV growth and dividend)1 having delivered
consistent returns with 86% NAV growth since IPO in 2016 in
absolute terms.
Circle focusses on acquiring assets in regional cities, many of
which have significant office supply constraints, and on office
assets with active management potential (refurbishment
opportunities, under-rented or vacant properties or short leases),
rather than just maximising initial rental yields.
Circle is not a Real Estate Investment Trust (REIT) and can
actively recycle proceeds from asset sales into its refurbishment
and redevelopment pipeline, as well as future investment
opportunities, therefore targeting a broader range of returns for
shareholders, which are primarily driven by NAV growth.
As well as already delivering substantial increases in NAV, the
Company's portfolio has significant reversionary potential with
total estimated rental values of GBP10.34m per annum, compared to
contracted rent of GBP7.61m at 31 March 2019. The Company has a
portfolio of 16 regional commercial property investment and
development assets in the UK valued at GBP139.2m.
(1) Source: Radnor Capital research, 31 March 2019
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END
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