PRS REIT PLC (The) Dividend Declaration and NAV Update (4900B)

TIDMPRSR

RNS Number : 4900B

PRS REIT PLC (The)

31 January 2020

31 January 2020

PRSR.L

The PRS REIT plc

("Company" or "PRS REIT")

Dividend Declaration and Net Asset Value ("NAV") Update

The PRS REIT, the closed-ended real estate investment trust established to invest in new-build homes in the Private Rented Sector ("PRS"), is pleased to declare today an interim quarterly dividend of 1.0 pence per ordinary share in respect of the second quarter period, covering 1 October 2019 to 31 December 2019.

This dividend, which is a non-Property Income Distribution, will be payable on 28 February 2020 to shareholders on the register on 7 February 2020. The ex-dividend date will be 6 February 2020. The Company continues to target a total dividend of 5.0 pence per ordinary share(1) for the year ending 30 June 2020.

As at 31 December 2019, the PRS REIT's unaudited EPRA NAV and IFRS NAV were both 95.0 pence per ordinary share (30 June 2019: both 95.8p per ordinary share). It should be noted that this is after the payment of dividends that together totalled 3.0p per ordinary share (2.0p per ordinary share on 30 August 2019, which related to the three months to 30 June 2019, and 1.0p per ordinary share on 29 November 2019, which related to the three months to 30 September 2019).

The PRS REIT expects to issue interim results in March, when it will also provide an update on trading.

For further information, please contact:

 
 The PRS REIT plc                              Tel: [phone] (c/o 
  Steve Smith, Non-executive Chairman           KTZ Communications) 
 Sigma PRS Management Limited                  Tel: [phone] 
  Graham Barnet, Malcolm Briselden 
 N+1 Singer                                    Tel: [phone] 
  James Maxwell, James Moat, Ben Farrow 
 G10 Capital Limited (part of the IQEQ Group   Tel: [phone] 
  as AIFM) 
  Gerhard Grueter 
 KTZ Communications                            Tel: [phone] 
  Katie Tzouliadis, Dan Mahoney 
 

NOTES TO EDITORS

About The PRS REIT plc

(www.theprsreit.com)

The PRS REIT is a closed-ended real estate investment trust established to invest in the Private Rented Sector and to provide shareholders with an attractive level of income together with the potential for capital and income growth. It has raised a total of GBP500m (gross) through its Initial Public Offering, on 31 May 2017, and a subsequent placing in February 2018. Both fundraisings were supported by the UK Government's Homes England with direct investments.

LEI: 21380037Q91HU97WZX58

About Sigma Capital Group plc

(www.sigmacapital.co.uk)

Sigma Capital Group plc ("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. Its subsidiary, Sigma PRS Management Limited, is Investment Adviser to The PRS REIT plc. In April 2019, Sigma launched the Sigma Scottish PRS Fund, the first dedicated vehicle to focus on the creation of new rental homes for families in the private rented sector in Scotland, and in October Sigma announced the expansion of its build-to-rent activities into London.

About Sigma PRS Management Ltd

Sigma PRS Management Limited is a wholly-owned subsidiary of AIM-quoted Sigma Capital Group plc and is Investment Adviser to The PRS REIT plc. It sources investments and operationally manages the assets of The PRS REIT plc and advises the Alternative Investment Fund Manager ("AIFM") and The PRS REIT plc on a day-to-day basis in accordance with The PRS REIT plc's Investment Policy. The Investment Manager is G10 Capital Limited. Sigma PRS Management Ltd is an appointed representative of G10 Capital Limited, which is authorised and regulated by the Financial Conduct Authority (FRN:648953)

(1) This is a target only and there can be no assurance that the target can or will be met and should not be taken as an indication of the Company's expected or actual future results. Accordingly, potential investors should not place any reliance on this target in deciding whether or not to invest in the Company or assume that the Company will make any distributions at all and should decide for themselves whether or not the target dividend yield is reasonable or achievable.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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January 31, 2020 02:00 ET (07:00 GMT)