RDI REIT PLC Transaction in Own Shares (5677Q)

TIDMRDI

RNS Number : 5677Q

RDI REIT PLC

07 June 2018

RDI REIT P.L.C.

("RDI" or the "Company" or the "Group")

(Registration number 010534V)

LSE share code: RDI

JSE share code: RPL

ISIN: IM00B8BV8G91

LEI: 2138006NHZUMMRYQ1745

Transaction in Own Shares

Further to the announcement on 9 May 2018 regarding a share buy-back programme, RDI, the FTSE 250 income-focused UK-REIT, advises that on 6 June 2018 Peel Hunt LLP on behalf of the Company, purchased 1,094,122 Ordinary shares, with a par value of 8 pence each, in the capital of the Company ("Ordinary Shares") on market, at an average price of 37.30 pence per Ordinary Share (the "Purchase"). The Ordinary Shares purchased for cancellation represent approximately 0.058 per cent of the current issued share capital of the Company. The Company does not hold any shares in treasury.

The Purchase was in accordance with the terms of the general authority to make market purchases of its own shares granted by shareholders of the Company on 25 January 2018.

For the purpose of the Financial Conduct Authority's Disclosure and Transparency Rules, the total number of Ordinary Shares in issue as at the date of this notice (taking into account the abovementioned Ordinary Shares purchased for cancellation by the Company) is 1,892,283,363.

This figure represents the total voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the schedule below contains a summary and a detailed information about the purchases made by Peel Hunt LLP on behalf of the Company as part of the share buy-back programme.

For further information, please contact:

 
RDI REIT P.L.C. 
Mike Watters, Donald Grant            Tel: [phone] 
FTI Consulting 
UK Public Relations Adviser 
Dido Laurimore, Claire Turvey, Ellie  Tel: [phone] 
 Sweeney 
Instinctif Partners 
SA Public Relations Adviser 
Frederic Cornet                        Tel: [phone] 
JSE Sponsor 
Java Capital                          Tel: + 27 (0) 11 722 3050 
 

Schedule 1: Schedule of Purchases

 
 Date of Purchase:               06/06/2018 
 Number of Ordinary Shares 
  purchased:                     1,094,122 
                                -------------- 
 Highest price paid per share 
  (pence):                       37.45 
                                -------------- 
 Lowest price paid per share 
  (pence):                       37.05 
                                -------------- 
 Average price paid per share 
  (pence):                       37.30 
                                -------------- 
 Broker-dealer:                  Peel Hunt LLP 
                                -------------- 
 

Schedule 2: Individual transactions:

 
 Number of shares   Transaction   Time of transaction   Trading venue 
  purchased          price 
 400,000            37.45 pence   08:39:00              LSE 
                   ------------  --------------------  -------------- 
 50,000             37.30 pence   09:57:10              LSE 
                   ------------  --------------------  -------------- 
 150,000            37.20 pence   10:14:43              LSE 
                   ------------  --------------------  -------------- 
 50,000             37.35 pence   11:42:34              LSE 
                   ------------  --------------------  -------------- 
 150,000            37.30 pence   14:47:57              LSE 
                   ------------  --------------------  -------------- 
 180,000            37.20 pence   16:20:58              LSE 
                   ------------  --------------------  -------------- 
 20,000             37.20 pence   16:28:17              LSE 
                   ------------  --------------------  -------------- 
 94,122             37.05 pence   16:37:43              LSE 
                   ------------  --------------------  -------------- 
 

Schedule 3: Aggregate information

 
 Venue    Volume-weighted    Aggregated volume 
           average 
 LSE      37.30 pence        1,094,122 
         -----------------  ------------------ 
 

About RDI

RDI is a FTSE 250 UK Real Estate Investment Trust (UK-REIT) committed to becoming the UK's leading income focused REIT. The Company's income-led business model and strategic priorities are designed to offer shareholders superior, sustainable and growing income returns, with a target growth in underlying earnings per share of 3%-5% across the medium term.

Income sustainability is underpinned by a diversified portfolio and tenant base, with no overreliance on any one sector or tenant, together with an efficient capital structure. The secure and growing income stream is 25.9% indexed and has a WAULT of 6.8 years to first break (8.2 years to expiry). This is complemented by an average debt maturity of 7.0 years of which over 90% of interest costs are either fixed or capped. The Company is focused on all aspects impacting shareholder distributions and reports one of the lowest cost ratios in the industry whilst maintaining a low cost of debt.

The Company owns properties independently valued at GBP1.6bn in the United Kingdom and Germany, Europe's two largest, liquid and transparent property markets. RDI invests in assets with strong property fundamentals spread across UK offices (including London serviced offices), UK logistics, UK shopping centres, UK retail parks, UK hotels and German retail. RDI is well placed to take advantage of the increasing occupier requirement for real estate owners to become high quality service providers, given its scalable operational platforms and nearly a third of the portfolio invested in hotels and London serviced offices.

RDI holds a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange and is included within the FTSE 250, EPRA, GPR, JSE All Property and JSE Tradeable Property indices.

For more information on RDI, please refer to the Company's website www.rdireit.com

All figures as at 28 February 2018

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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June 07, 2018 02:00 ET (06:00 GMT)