Triple Point Social Housing REIT Purchase of Management Shares (0921W)

TIDMSOHO

RNS Number : 0921W

Triple Point Social Housing REIT

12 April 2019

12 April 2019

Triple Point Social Housing REIT plc

(the "Company" or, together with its subsidiaries, the "Group")

PURCHASE OF ORDINARY SHARES UNDER THE DELEGATED PORTFOLIO MANAGEMENT AGREEMENT

The Company announces that, in accordance with the terms of the Delegated Portfolio Management Agreement with Triple Point Investment Management LLP (the "Investment Manager") pursuant to which, the Investment Manager shall procure that 25 per cent. of the management fee (net of applicable tax) shall be applied by subscribing for or acquiring Ordinary Shares in the capital of the Company ("Management Shares"), the Investment Manager has today purchased 379,532 Ordinary Shares at an average price of 93.40 pence.

The purchase was made by Perihelion One Limited (a company in the Triple Point Group), following which the Investment Manager holds 1,279,532 shares in the Company.

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

 
 Triple Point Investment Management       Tel: [phone] 
  LLP 
  (Delegated Investment Manager) 
 James Cranmer 
 Ben Beaton 
 Max Shenkman 
 
 Hanway Advisory Limited (Company         Tel: [phone] 
  Secretary) 
 Luke Cheshire 
 
 Akur Limited (Joint Financial Adviser)   Tel: [phone] 
 Tom Frost 
 Anthony Richardson 
 Siobhan Sergeant 
 
 Canaccord Genuity Limited (Joint         Tel: [phone] 
  Financial Adviser) 
 Lucy Lewis 
 Denis Flanagan 
 Andrew Zychowski 
 

The Company's LEI is 213800BERVBS2HFTBC58.

Further information on the Company can be found on its website at www.triplepointreit.com.

NOTES:

The Company invests in social housing assets in the UK, with a particular focus on supported housing. The assets within the portfolio are subject to inflation-adjusted, long-term (typically from 20 years to 30 years), Fully Repairing and Insuring ("FRI") leases with Approved Providers (being Housing Associations, Local Authorities or other regulated organisations in receipt of direct payment from local government). The portfolio comprises investments into properties which are already subject to an FRI lease with an Approved Provider, as well as forward funding of pre-let developments but does not include any direct development or speculative development.

There is increasing political and financial pressure on Housing Associations to increase their housing delivery and this is creating opportunities for private sector investors to participate in the market. The Group's ability to provide forward financing for new developments not only enables the Company to secure fit for purpose, modern assets for its portfolio but also addresses the chronic undersupply of suitable supported housing properties in the UK at sustainable rents and delivering returns to investors.

Triple Point Investment Management LLP (part of the Triple Point Group) is responsible for management of the Group's portfolio (with such functions having been delegated to it by Langham Hall Fund Management LLP, the Company's alternative investment fund manager).

The Company was admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange on 8 August 2017 and was admitted to the premium segment of the Official List of the Financial Conduct Authority and migrated to trading on the premium segment of the Main Market on 27 March 2018. The Company operates as a UK Real Estate Investment Trust ("REIT") and is a constituent of the FTSE EPRA/NAREIT index.

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April 12, 2019 10:00 ET (14:00 GMT)