Civitas Social Housing PLC Response to RSH (1069S)

TIDMCSH

RNS Number : 1069S

Civitas Social Housing PLC

12 March 2021

12 March 2021

CIVITAS SOCIAL HOUSING PLC

Response to RSH

The Board of Civitas Social Housing PLC, the leading care-based social housing REIT, ("Civitas" or the "Company") notes the 'grading under review' announcement by the Regulator of Social Housing ("RSH") in respect of Auckland Home Solutions CIC ("Auckland"), one of the 16 approved providers working with Civitas.

As at 12 March 2021, Auckland represented 23.9% of Civitas' rent roll with all lease payments due to Civitas fully up to date and this is expected to continue to be the case in the future.

The RSH announced in May 2018 a general review of housing associations engaged in the provision of property services for vulnerable people. Auckland's review is part of this regulatory process.

Auckland provides housing for vulnerable adults in England and Wales, enabling individuals with complex physical and mental challenges to retain their independence within a supported living setting. Auckland is a member of the Social Housing Family, a not-for-profit community interest company established to assist member firms to enhance corporate governance standards and to benefit from sharing of best practise expertise.

Further updates will be provided as and when appropriate.

ENDS

For further information, please contact:

Civitas Investment Management Limited

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

Panmure Gordon

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

Liberum Capital Limited

   Gillian Martin / Chris Clarke                        Tel: [phone] 

Buchanan

   Helen Tarbet / Henry Wilson                      Tel: [phone] 
   Hannah Ratcliff / George Beale                  [e-mail] 

Notes:

Civitas Social Housing PLC (CSH) was created in 2016 by Civitas Investment Management Limited as the first dedicated London listed REIT, to raise long-term, sustainable, institutional capital to invest in care-based social homes across the UK. So far, CSH has completed more than 120 individual transactions to build the largest portfolio of its kind that has been independently valued on an IFRS basis at GBP901.1million. CSH provides homes for 4,295 working age adults with long-term care needs, in 619 bespoke properties that are supported by 118 specialist care providers, 16 approved providers over 164 individual local authority areas.

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March 12, 2021 05:37 ET (10:37 GMT)