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Snippet Supermarket Income REIT plc (the "Group" or the "Company") INTERIM RESULTS FOR THE PERIOD FROM INCORPORATION TO 31 DECEMBER 2017 Supermarket Income REIT plc (LSE: SUPR), the only real estate investment company dedicated to investing in supermarket property in the UK, is today reporting its unaudited consolidated results for the Group for the period from incorporation on 1 June 2017 to 31 December 2017 ("the Period"). Financial highlights: · The Company's IPO in July 2017 (the "IPO") raised gross proceeds of £100 million at an issue price of 100 pence per ordinary share. The Company's ordinary shares were admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange on 21 July 2017. A follow-on equity fundraising in November 2017 raised an additional £20 million at an issue price of 100 pence per ordinary share. · Net IPO and follow-on equity fundraising proceeds were fully invested within approximately six weeks. · The Group has acquired four supermarket assets in the UK that operate both as physical supermarkets and as online fulfilment centres. · The investment properties benefit from highly attractive leases: o Current weighted average unexpired lease terms of 18 years (no break options) o Strong tenant covenants (Tesco and Sainsbury's) o Upward only, annual, RPI-linked rent reviews o Annualised passing rent roll of £10.7 million o Average contracted rent increases of 3.6% achieved in the Period · The Company declared its maiden interim dividend of 1.375 pence per share on 28 September 2017 and the Board has declared a further dividend of 1.375 pence per share in respect of the period from 29 September 2017 to 31 December 2017. · The Company is on track to deliver an annualised 5.5 pence per ordinary share dividend, which is expected to be fully covered from net rental cashflows (1) . · The Company's investment properties were independently valued on 31 December 2017 at £207.9 million, representing an increase of 3.2% above the aggregate acquisition price (excluding acquisition costs) and reflecting an aggregated net initial yield of 4.9%. · Net loan to value ("LTV") ratio of 44.5% as at 31 December 2017, with a cost of debt of 2.2% for the Period. · Net Asset Value ("NAV") per ordinary share of 94 pence as at 31 December 2017. · Further pipeline of potential acquisitions which meet the Company's investment criteria. (1) The target dividend is a target only and not a profit forecast. There can be no assurance that the target will be achieved, and it should not be taken as an indication of the Company's expected or actual future results.
Nick Hewson, Chairman of Supermarket Income REIT plc, commented: "We have rapidly built our portfolio of supermarket property assets in line with the business plan outlined at IPO in July and are on track to deliver an annualised 5.5 pence per share dividend. Our high quality portfolio now produces attractive inflation linked income for shareholders together with the potential for long term capital returns. Supermarket Income REIT is the only UK REIT investing exclusively in the grocery sector of the real estate market and is committed to providing investors with stable, long-term, inflation-protected income, supported by a compelling real estate and pricing opportunity." FOR FURTHER INFORMATION, PLEASE CONTACT: Atrato Capital Limited +44 (0)20 3790 8087 Ben Green Steve Windsor Steve Noble Stifel Nicolaus Europe Limited +44 (0)20 7710 7600 Mark Young Neil Winward Tom Yeadon Tavistock Communications (PR Adviser) +44 (0)20 7920 3150 Jeremy Carey James Whitmore James Verstringhe NOTES TO EDITORS: Supermarket Income REIT plc (SUPR) listed on the London Stock Exchange in July 2017.
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05-Feb-2018 Singapore Banks lead th
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after Friday's U.S. payrolls report
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9.11am GMT Some good news! The euro
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Treasuries to a four-year high. The
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organisations. That’s it: the net
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Fund to speed up the development of
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accounts opened in the Seychelles a
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Santander Consumer USA Holdings Inc
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Snippet Date: 5th February 2018 Not
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Nomura to cut London traders? There
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'Defensively we made a couple of er
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Almagro, 8, CP 28010, Madrid ES0225
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China Construction Bank (Europe). S
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TO SPREAD TO EUROPE (0618 GMT) Good
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than 20,000 active BCAs. Banks can
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Tomorrow's Daily Telegraph front pa
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5 days ago 10 items Taking on Silic
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Page 341 and 342: FINANCIAL STATEMENTS 1. BASIS OF PR
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egretted calling Bitcoin a "fraud".
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* The Investment Adviser estimates
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of any jurisdiction other than the
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information provided to us by or on
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third party servicing. The Company
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month. “It (KHRC) is expected to
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