Sigma Capital Group PLC Update (9485A)

TIDMSGM

RNS Number : 9485A

Sigma Capital Group PLC

30 March 2017

30 March 2017

AIM: SGM

Sigma Capital Group plc

("Sigma" or the "Company")

The private rented sector ("PRS") and urban regeneration specialist

Re plans to launch an independent long-term holding vehicle

The Board of Sigma is pleased to announce that it is progressing plans for the possible launch and flotation of an independent real estate investment trust (the "REIT"), in line with its stated intention in its half yearly report to explore a long-term holding vehicle into which the Company can sell its developed PRS assets, recycle its capital and significantly scale its self-funded PRS delivery. The Homes and Communities Agency (the "HCA") has agreed in principle to support the REIT through direct investment in the possible flotation.

The proposed REIT would be managed by Sigma and invest predominantly in Private Rented Sector housing in the main English conurbations, and largest employment centres, outside of London. It is also intended that the REIT develops assets utilising Sigma's PRS platform.

Sigma's PRS platform is recognised as being at the forefront of the PRS property sector with approximately 1,100 units currently built, let and under management.

N+1 Singer Advisory LLP has been appointed to assist with the process, with a view to launching the REIT during the second quarter of 2017.

The Company's full year results will be announced towards the end of April.

Enquiries:

 
 Sigma Capital         Graham Barnet, Chief     T: 020 3178 6378 
  Group plc             Executive                (today) 
                       Malcolm Briselden,       T: 0333 999 9926 
                        Finance Director 
 KTZ Communications    Katie Tzouliadis,        T: 020 3178 6378 
                        Emma Pearson 
 N+1 Singer            James Maxwell, Michael   T: 020 7496 3000 
  (NOMAD and Broker)    Taylor, Liz Yong 
 

About Sigma Capital Group plc

www.sigmacapital.co.uk

Sigma 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 30, 2017 02:01 ET (06:01 GMT)