25 March 2024
Triple Point Social Housing
REIT plc
(the
"Company" or, together with
its subsidiaries, the "Group")
PURCHASE OF ORDINARY SHARES
UNDER THE INVESTMENT MANAGEMENT AGREEMENT
The Company announces that, in
accordance with the terms of the Investment Management Agreement
with Triple Point Investment Management LLP ("Triple Point" or 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 purchased 463,669 Ordinary
Shares in the market at an average price of 60.05 pence on 22 March
2024. This purchase of Management Shares
was made by Perihelion One Limited ("Perihelion"), a company in the Triple
Point Group.
In March 2021, the Investment
Manager introduced a Product Ownership Scheme, under which partners
and employees of Triple Point are able to use some or all of their
discretionary remuneration to acquire Ordinary Shares from the
Investment Manager. The partners and employees of Triple Point are
subject to the Triple Point Personal Account Dealing Code which
governs the ability of such individuals to deal in the Ordinary
Shares. Under the scheme, employees are incentivised to hold the
Ordinary Shares for at least 12 months but are not subject to any
formal lock-in arrangements.
Perihelion has transferred a total
of 895,426 Ordinary Shares to partners and employees under the
Product Ownership Scheme. The Investment Manager and its staff
currently hold a total of 4,420,478
Ordinary Shares in the Company*.
* Figure only includes
Management Shares acquired from Perihelion and not Ordinary Shares
otherwise acquired by such individuals.
FOR FURTHER INFORMATION ON
THE COMPANY, PLEASE CONTACT:
Triple Point Investment
Management LLP
(Investment
Manager)
|
Tel: 020 7201
8989
|
Max Shenkman
|
|
Isobel
Gunn-Brown
|
|
|
|
Akur Limited (Joint Financial
Adviser)
|
Tel: 020 7493
3631
|
Tom Frost
|
|
Anthony
Richardson
|
|
Siobhan
Sergeant
|
|
|
|
Stifel Nicolaus Europe
Limited (Joint Financial Adviser and Corporate
Broker)
|
Tel: 020 7710
7600
|
Mark Young
|
|
Rajpal Padam
|
|
Madison
Kominski
|
|
|
|
Brunswick Group (Financial PR
Adviser)
|
Tel: 020 7404
5959
|
Nina Coad
|
|
Robin Wrench
|
|
Mara James
|
|
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 primarily
newly developed social housing assets in the UK, with a particular
focus on supported housing. The majority of the assets within the
portfolio are subject to inflation-linked, long-term, 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 a lease with an Approved Provider, as well as
forward funding of pre-let developments but does not include any
direct development or speculative development.
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.