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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Toc Property Backed Lending Trust Plc | LSE:PBLT | London | Ordinary Share | GB00BD0ND667 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 86.00 | 84.00 | 88.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPBLT
RNS Number : 8925X
TOC Property Backed Lendng Tst PLC
30 November 2017
For release on 30 November 2017
TOC PROPERTY BACKED LENDING TRUST PLC
Dividend Declaration
The Board of Directors (the "Board") of TOC Property Backed Lending Trust (the "Company" or "PBLT") has declared an interim dividend of 1.5 pence per Ordinary Share in respect of the period from 1 September 2017 to 30 November 2017.
Distribution period: 1 September 2017 - 30 November 2017 Distribution amount 1.5 pence per share: Ex-dividend date: 7 December 2017 Dividend record 8 December 2017 date: Payment date: 29 December 2017
In the absence of unforeseen circumstances, the Company expects to declare:
-- quarterly dividends hereafter at an annualised 7% per annum (calculated with reference to the IPO issue price) in respect of the next financial year, commencing 1 December 2017.
The above dividend targets are targets only and not profit forecasts. There can be no assurances that the targets can or will be met and this should not be taken as an indication of the Company's expected or future profitability.
Dividends are expected to be paid in the month following their declaration.
For further information regarding the Company (Ticker: PBLT) (LEI: 213800EXPWANYN3NEV68) please call:
TOC Property Backed Lending Trust PLC +44 (0) 191 Stephen Black 222 0099 Tier One Capital Ltd (Investment Adviser) +44 (0) 191 Ian McElroy 222 0099 finnCap Ltd (Sponsor, Broker and Financial Adviser) William Marle / Grant Bergman +44 (0) 207 / Alex Price 220 0500 Maitland Administration Services (Scotland) Limited (Secretary) +44 (0) 131 Martin Cassels 550 3760
Notes to Editors:
TOC Property Backed Lending Trust PLC is a closed-end investment company. Its investment objective is to provide shareholders with a consistent and stable income and the potential for an attractive total return over the medium to long term while managing downside risk through: (i) a diversified portfolio of fixed rate loans predominantly secured over land and/or property in the UK; and (ii) in many cases, receiving the benefit of an associated profit share usually obtained by acquiring (at nil cost) a minority equity stake in the relevant borrower project development vehicle.
The Company's investment adviser is Tier One Capital Limited ("Tier One" or the "Investment Adviser"). Tier One was launched by former Barclays Wealth and Coutts & Co directors Stephen Black and Ian McElroy in early 2013. Both Stephen and Ian have extensive credit experience, much of which was gained in a difficult financial climate. Tier One has developed a direct lending offering that provides an opportunity which sits between conventional lending and the emerging peer-to-peer platform market. Tier One uses its direct lending and credit expertise to source funds for borrowers, broker facility agreements and then offer continued support and guidance to borrowers through the lifespan of their loan.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
November 30, 2017 02:01 ET (07:01 GMT)
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