Sigma Capital Group PLC Re: The PRS REIT plc (4030D)
31 January 2018 - 6:00PM
UK Regulatory
TIDMSGM TIDMPRSR
RNS Number : 4030D
Sigma Capital Group PLC
31 January 2018
31 January 2018
AIM: SGM
Sigma Capital Group plc
("Sigma" or "the Company" or "the Group")
The Private Rented Sector ("PRS") and urban regeneration
specialist
Re: The PRS REIT plc
Sigma is pleased to highlight two announcements issued today by
The PRS REIT plc ("PRS REIT"), the real estate investment trust
established to invest in the Private Rented Sector. Sigma's
wholly-owned subsidiary, Sigma PRS Management Limited, is
Investment Adviser to the PRS REIT, sourcing investments and
managing the assets of the PRS REIT, and advising it on a
day-to-day basis in accordance with its Investment Policy.
The announcements cover the following:
-- the PRS REIT's proposed placing of up to 250
million shares; and
-- the PRS REIT's maiden dividend, net asset
value and credit approved terms for GBP200
million of debt facilities.
Graham Barnet, CEO of Sigma, commented:
"This second share placing by the PRS REIT, which is targeting
up to circa GBP250 million, should enable the delivery of thousands
more new family homes to rent.
"As the PRS REIT's Investment Adviser, we have already assisted
the PRS REIT in fully committing the funds from its first share
placing, which raised GBP250 million at the end of May last year,
and have sites currently allocated for development using the GBP200
million of debt facilities, for which credit approved terms have
now been agreed.
"We are currently actively appraising over GBP540 million of
additional development opportunities and therefore look forward to
this next major step, which underscores Sigma's increasingly
prominent role in housing delivery for the Private Rented Sector in
the UK."
Enquiries:
Sigma Capital Group Graham Barnet, Chief T: 020 3178 6378 (today)
plc Executive
Malcolm Briselden, T: 0333 999 9926
Finance Director
KTZ Communications Katie Tzouliadis, T: 020 3178 6378
Irene Bermont-Penn,
Emma Pearson
N+1 Singer James Maxwell, Liz T: 020 7496 3000
(NOMAD and Broker) Yong, Michael Taylor
NOTES TO EDITORS
About Sigma Capital Group plc
(www.sigmacapital.co.uk)
Sigma Capital Group plc is a private rented sector, residential
development, and urban regeneration specialist, with offices in
Edinburgh, Manchester and London. Sigma's principal focus is on the
delivery of large scale housing schemes for the private rented
sector. It has a well-established track record in assisting with
property-related regeneration projects in the public sector, acting
as a bridge between the public and private sectors. Its subsidiary,
Sigma PRS Management Limited, is Investment Adviser to The PRS REIT
plc.
About Sigma PRS Management Limited
Sigma PRS Management Limited is a wholly owned subsidiary of
AIM-quoted Sigma Capital Group plc and is the Company's Investment
Adviser. It sources investments and manages the assets of The PRS
REIT plc and advises the Alternative Investment Fund Manager
("AIFM") and the PRS REIT on a day-to-day basis in accordance with
the PRS REIT's Investment Policy. The Investment Adviser is an
appointed representative (reference number: 776293) of the
AIFM.
About The PRS REIT plc
(www.theprsreit.com)
The PRS REIT is a closed-ended real estate investment trust
established to invest in the Private Rented Sector. In its Initial
Public Offering, on 31 May 2017, the PRS REIT raised GBP250 million
gross equity capital via a Placing, Offer for Subscription and
Intermediaries Offer. The UK Government's Homes England (formerly
Homes and Communities Agency) supported the launch of the PRS REIT
with a direct investment of c. GBP25 million. The proceeds of the
fundraising have now been fully committed to completed PRS sites
and PRS development sites, with the objective of providing
shareholders with an attractive level of income together with the
potential for capital and income growth. The PRS REIT is now
seeking to raise further funds via a proposed placing of new
Ordinary Shares.
This information is provided by RNS
The company news service from the London Stock Exchange
END
STREAEFEDSSPEAF
(END) Dow Jones Newswires
January 31, 2018 02:00 ET (07:00 GMT)
Sigma Capital (LSE:SGM)
Historical Stock Chart
From Apr 2024 to May 2024
Sigma Capital (LSE:SGM)
Historical Stock Chart
From May 2023 to May 2024