Civitas Social Housing PLC Civitas Social Housing PLC: Net Asset Value (0106U)

TIDMCSH

RNS Number : 0106U

Civitas Social Housing PLC

18 October 2017

18 October 2017

CIVITAS SOCIAL HOUSING PLC

("Civitas" or the "Company")

Net Asset Value

Following publication today of a Prospectus (incorporating an independent valuation of the Company's investment properties at 30 September 2017 by Jones Laing LaSalle Ltd) in relation to the intended issue of C shares, the Board of Civitas Social Housing PLC ("Board"), the first London listed REIT dedicated to investing into regulated social housing in England and Wales, is pleased to announce its net asset value ("NAV") as at 30 September 2017.

Net Asset Value

As at the close of business on 30 September 2017 the unaudited NAV of the Company was 109.8p per ordinary share, calculated in accordance with the Company's normal accounting policies, prepared in accordance with EPRA best practice recommendations and procedures and reflecting an independent RICS "Red Book" portfolio valuation undertaken by Jones Lang LaSalle Ltd. as at 30(th) September 2017.

The NAV as at 30 September 2017 represents an increase since IPO (based on 98.0 pence per ordinary share), of 12 per cent.

The movement in net asset value since 30 June 2017 is as follows:

 
                                                  GBP 
---------------------------------------  ------------ 
 Net Asset Value as at 30 June 2017(1)    368,653,269 
---------------------------------------  ------------ 
 Operating profits                          2,683,104 
---------------------------------------  ------------ 
 Capital appreciation                      15,425,073 
---------------------------------------  ------------ 
 Dividend paid                            (2,625,000) 
---------------------------------------  ------------ 
 Net Asset Value as at 30 September 
  2017 (1)                                384,136,446 
---------------------------------------  ------------ 
 

(1) based on portfolio valuation

Quarterly Dividend

The Company will, in the ordinary course around the end of October 2017 make its usual announcement in respect of the third quarterly dividend, including the intended date of payment and the ex dividend date.

For further information, please contact:

Civitas Housing Advisors Limited

   Paul Bridge                            Tel: [phone] 
   Andrew Dawber                    Tel: [phone] 

Cenkos Securities PLC

   Sapna Shah                            Tel: [phone] 
   Tom Scrivens                         Tel: [phone] 

Pagefield

   Philip Dennis                          Tel: [phone] 
   David Leslie                           Tel: [phone] 

Notes:

Civitas Social Housing PLC is the first Real Estate Investment Trust offering pure play exposure to social housing in England and Wales. The Company is managed by Civitas Housing Advisors Limited. The Companys ordinary shares are listed on the premium listing segment of the Official List of the Financial Conduct Authority and were admitted to trading on the main market for listed securities of the London Stock Exchange in November 2016.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 18, 2017 13:17 ET (17:17 GMT)