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DKE Dukemount Capital Plc

0.0325
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Dukemount Capital Plc LSE:DKE London Ordinary Share GB00BMWC6Q55 ORD GBP0.001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0325 0.03 0.035 0.0325 0.0325 0.0325 35,821,134 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Lessors Of Real Property,nec 0 -408k -0.0059 -0.05 20.8k

Dukemount Capital PLC Letter of Intent Signed for First Acquisition (1651G)

25/05/2017 7:00am

UK Regulatory


Dukemount Capital (LSE:DKE)
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TIDMDKE

RNS Number : 1651G

Dukemount Capital PLC

25 May 2017

25 May 2017

Dukemount Capital Plc

("Dukemount" or the "Company")

Binding Letter of Intent Signed for First Acquisition

Dukemount Capital plc, the high yield Real Estate Development Company in the property sector, has signed a binding letter of intent (LOI) for a period of two years whereby Dukemount and Larch Housing Association Limited (LHA) will identify properties, with a minimum total portfolio value of GBP5 million and which are suitable for leasing to Supported Living tenants.

Under a 30 day exclusivity period, Dukemount will acquire the identified properties, subject to valuation, due diligence and contract on the basis that LHA agrees to sign a 50 year lease at 6.5% per annum plus CPI based on the purchase price, prior to any firm commitment by Dukemount.

Each property in the portfolio in this deal will be focused on the supported living sector with rents arranged beforehand with the Housing Association and adjusted annually by inflation over the full period of the lease.

This initial deal of GBP5 million is the first one aimed at filling the pipeline of properties that our institutional contacts are keen to see and fund. As highlighted during the listing process, and in the investor presentation on the company website (www.dukemountcapitalplc.com.), the management team will continue to work to source these transactions to provide product for the long term investing institutions that are so starved of the CPI linked yield they require.

Supported living is a fast-growing concept that was developed in Canada as an alternative to institutional care for people with disabilities and brought to the UK in the 1990's. The main principles of supported living are that people with disabilities own or rent their home, have control over the support they get and how they live their lives.

Dukemount Executive Chairman Geoffrey Dart said, "We have been, and continue to be, approached by a number of housing associations and development providers around the UK and are pleased to announce the signing of the first LOI. The supported living sector is a fast growing sector as more recipients are choosing to have an active place in the community and is one area which ties in with our plan of offering attractive returns to yield seeking institutions and our shareholders whilst also being socially relevant.

For further information, please contact:

 
 Dukemount Capital Plc          Tel: +44 (0) 7874 762 
                                 821 
-----------------------------  -------------------------------- 
 Timothy Le Druillenec 
-----------------------------  -------------------------------- 
 
 Walbrook PR (Media and         Tel: +44 (0) 207 933 
  Investor Enquiries             8780 
-----------------------------  -------------------------------- 
 Paul Cornelius / Gary          dukemountcapital@walbrookpr.com 
  Middleton 
-----------------------------  -------------------------------- 
 
 Optiva Securities Ltd          Tel: +44 (0) 203 137 
                                 1906 
-----------------------------  -------------------------------- 
 Christian Dennis - Corporate 
  Broker 
-----------------------------  -------------------------------- 
 Jeremy King - Corporate 
  Broker 
-----------------------------  -------------------------------- 
 
 Peterhouse Corporate           Tel: +44 (0) 207 469 
  Finance Limited                0930 
-----------------------------  -------------------------------- 
 Lucy Williams/Duncan 
  Vasey 
-----------------------------  -------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

LOIOKQDPABKDDPB

(END) Dow Jones Newswires

May 25, 2017 02:00 ET (06:00 GMT)

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