Unite Group PLC Results of Scrip Dividend Election (6847Y)
10 May 2019 - 8:01PM
UK Regulatory
TIDMUTG
RNS Number : 6847Y
Unite Group PLC
10 May 2019
THE UNITE GROUP PLC (the "Company")
10 May 2019
RESULTS OF SCRIP DIVIDEND ELECTION - 2018 FINAL DIVIDEND
Scrip Scheme elections were received in respect of 25,733,656
shares representing a take up of approximately 9.8% of the
Company's share capital. This will result in the issue of 403,390
new ordinary shares (approximately 0.15% of the current issued
share capital). These shares will be issued at a price of 928.30
pence each and will rank pari passu in all respects with the
Company's existing issued ordinary shares.
An application 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 17 May 2019.
Following the issue of these shares, the total number of shares
in issue and voting rights in the Company will be 263,959,581 with
effect from 17 May 2019. 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 17 May 2019.
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 Communications Tel: +44 7525 592 521
Powerscourt (PR adviser to Unite)
Justin Griffiths or Victoria Heslop Tel: +44 207 250 1446
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 circa 130 properties across 22
leading university towns and cities in England and Scotland. Unite
also has a strong development pipeline, which will deliver more
than 6,000 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 quality service,
quality people and quality 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 quality 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
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END
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