TIDMRDI
RNS Number : 5677Q
RDI REIT PLC
07 June 2018
RDI REIT P.L.C.
("RDI" or the "Company" or the "Group")
(Registration number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
LEI: 2138006NHZUMMRYQ1745
Transaction in Own Shares
Further to the announcement on 9 May 2018 regarding a share
buy-back programme, RDI, the FTSE 250 income-focused UK-REIT,
advises that on 6 June 2018 Peel Hunt LLP on behalf of the Company,
purchased 1,094,122 Ordinary shares, with a par value of 8 pence
each, in the capital of the Company ("Ordinary Shares") on market,
at an average price of 37.30 pence per Ordinary Share (the
"Purchase"). The Ordinary Shares purchased for cancellation
represent approximately 0.058 per cent of the current issued share
capital of the Company. The Company does not hold any shares in
treasury.
The Purchase was in accordance with the terms of the general
authority to make market purchases of its own shares granted by
shareholders of the Company on 25 January 2018.
For the purpose of the Financial Conduct Authority's Disclosure
and Transparency Rules, the total number of Ordinary Shares in
issue as at the date of this notice (taking into account the
abovementioned Ordinary Shares purchased for cancellation by the
Company) is 1,892,283,363.
This figure represents the total voting rights in the Company
and may be used by shareholders as the denominator for the
calculations by which they can determine if they are required to
notify their interest in, or a change in their interest in, the
share capital of the Company under the UK Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.
In accordance with Article 5(1)(b) of Regulation (EU) No
596/2014 (the Market Abuse Regulation), the schedule below contains
a summary and a detailed information about the purchases made by
Peel Hunt LLP on behalf of the Company as part of the share
buy-back programme.
For further information, please contact:
RDI REIT P.L.C.
Mike Watters, Donald Grant Tel: +44 (0) 20 7811 0100
FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Ellie Tel: +44 (0) 20 3727 1000
Sweeney
Instinctif Partners
SA Public Relations Adviser
Frederic Cornet Tel: +27 (0) 11 447 3030
JSE Sponsor
Java Capital Tel: + 27 (0) 11 722 3050
Schedule 1: Schedule of Purchases
Date of Purchase: 06/06/2018
Number of Ordinary Shares
purchased: 1,094,122
--------------
Highest price paid per share
(pence): 37.45
--------------
Lowest price paid per share
(pence): 37.05
--------------
Average price paid per share
(pence): 37.30
--------------
Broker-dealer: Peel Hunt LLP
--------------
Schedule 2: Individual transactions:
Number of shares Transaction Time of transaction Trading venue
purchased price
400,000 37.45 pence 08:39:00 LSE
------------ -------------------- --------------
50,000 37.30 pence 09:57:10 LSE
------------ -------------------- --------------
150,000 37.20 pence 10:14:43 LSE
------------ -------------------- --------------
50,000 37.35 pence 11:42:34 LSE
------------ -------------------- --------------
150,000 37.30 pence 14:47:57 LSE
------------ -------------------- --------------
180,000 37.20 pence 16:20:58 LSE
------------ -------------------- --------------
20,000 37.20 pence 16:28:17 LSE
------------ -------------------- --------------
94,122 37.05 pence 16:37:43 LSE
------------ -------------------- --------------
Schedule 3: Aggregate information
Venue Volume-weighted Aggregated volume
average
LSE 37.30 pence 1,094,122
----------------- ------------------
About RDI
RDI is a FTSE 250 UK Real Estate Investment Trust (UK-REIT)
committed to becoming the UK's leading income focused REIT. The
Company's income-led business model and strategic priorities are
designed to offer shareholders superior, sustainable and growing
income returns, with a target growth in underlying earnings per
share of 3%-5% across the medium term.
Income sustainability is underpinned by a diversified portfolio
and tenant base, with no overreliance on any one sector or tenant,
together with an efficient capital structure. The secure and
growing income stream is 25.9% indexed and has a WAULT of 6.8 years
to first break (8.2 years to expiry). This is complemented by an
average debt maturity of 7.0 years of which over 90% of interest
costs are either fixed or capped. The Company is focused on all
aspects impacting shareholder distributions and reports one of the
lowest cost ratios in the industry whilst maintaining a low cost of
debt.
The Company owns properties independently valued at GBP1.6bn in
the United Kingdom and Germany, Europe's two largest, liquid and
transparent property markets. RDI invests in assets with strong
property fundamentals spread across UK offices (including London
serviced offices), UK logistics, UK shopping centres, UK retail
parks, UK hotels and German retail. RDI is well placed to take
advantage of the increasing occupier requirement for real estate
owners to become high quality service providers, given its scalable
operational platforms and nearly a third of the portfolio invested
in hotels and London serviced offices.
RDI holds a primary listing on the London Stock Exchange and a
secondary listing on the Johannesburg Stock Exchange and is
included within the FTSE 250, EPRA, GPR, JSE All Property and JSE
Tradeable Property indices.
For more information on RDI, please refer to the Company's
website www.rdireit.com
All figures as at 28 February 2018
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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