Unite Group PLC RESULTS OF SCRIP DIVIDEND ELECTION (0850O)
15 May 2018 - 6:00PM
UK Regulatory
TIDMUTG
RNS Number : 0850O
Unite Group PLC
15 May 2018
THE UNITE GROUP PLC (the "Company")
15 May 2018
RESULTS OF SCRIP DIVIDEND ELECTION - 2017 FINAL DIVIDEND
Scrip Scheme elections were received in respect of 17,594,426
shares representing a take up of approximately 6.7% of the
Company's share capital. This will result in the issue of 272,709
new ordinary shares (approximately 0.10% of the current issued
share capital). These shares will be issued at a price of 805.60
pence each and will rank pari passu in all respects with the
Company's existing issued ordinary shares.
Applications will be made to the UK Financial Conduct Authority
for these shares to be admitted to the Premium Segment of the
Official List and to the London Stock Exchange for these shares to
be admitted to trading on the Main Market for listed securities. It
is expected that admission will occur on 18 May 2018.
Following the issue of these shares, the total number of shares
in issue and voting rights in the Company will be 263,391,381 with
effect from 18 May 2018. This may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the UK Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.
Share certificates will be posted to certificated shareholders
who elected for scrip dividend shares and shareholders holding
shares in CREST, who elected for scrip dividend shares, will have
their CREST accounts credited directly on 18 May 2018.
Details of the scrip scheme can be found on the Company's
website at http://www.unite-group.co.uk/investors.
-ENDS-
For further information, please contact:
Unite Students
Candice Macdonald, Head of Tel: +44 7525 592 521
Communications
Powerscourt (PR adviser to Tel: +44 207 250 1446
Unite)
Justin Griffiths or Mazar
Masud
Notes to editors:
About Unite Students
Unite Students is the UK's largest manager and developer of
purpose-built student accommodation serving the country's
world-leading higher education sector. We currently provide homes
for almost 50,000 students in more than 140 properties across 24
leading university towns and cities in England and Scotland. Unite
also has a strong development pipeline, which will deliver a
further 8,000 beds in the next three years.
Our 1,400 people are driven by a common purpose: to provide the
students who live with us a 'Home for Success' and to be the most
trusted brand in the sector. We do this through great service,
great people and great properties, all designed on the basis of an
unrivalled insight into students' needs and preferences.
Unite's accommodation is high quality, safe and secure, and
located close to university campuses, transport links and local
amenities. Students live predominantly in en-suite study bedrooms
with rents covering all bills, insurance, 24-hour security,
fortnightly cleaning services and high-speed Wi-Fi. MyUnite, our
mobile app, provides practical support such as instant messaging
and maintenance requests.
Our commitment to customer service is powered by an innovative,
in-house operating platform. It provides a wide range of benefits
to our students, such as an optimised online booking process, as
well as providing us with a unique ability to drive value from our
portfolio through scale efficiencies and revenue management.
Alongside delivering great service, our other strategic priority
is delivering growing and sustainable earnings, underpinned by a
strong capital structure. A key part of this strategy is growing
the number of beds let though partnerships with mid and high tariff
universities which are experiencing record levels of student
demand. We currently partner with 60 higher education institutions,
guaranteeing that approximately 60% of our rooms are let under
multi-year, 'nomination agreements' providing high visibility of
forward occupancy and rental growth.
Unite is invested in and operates two specialist funds and joint
ventures with institutional investment partners: the GBP2 billion
Unite UK Student Accommodation Fund (USAF), and the GBP1 billion
London Student Accommodation Vehicle (LSAV).
Unite is the founder of and major donor to the Unite Foundation,
a charitable trust established to support talented students facing
challenging financial circumstances through the provision of free
accommodation annual scholarships. The Foundation has so far
provided scholarships for 250 young people working in close
collaboration with 28 universities.
Founded in 1991 in Bristol, Unite Group is an award-winning Real
Estate Investment Trust (REIT), listed on the London Stock Exchange
and a member of the FTSE 250 Index.
For more information, please visit Unite's corporate website
www.unite-group.co.uk, the student site www.unite-students.com or
the Unite Foundation www.unitefoundation.co.uk.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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