Transaction in Own Shares

By

Regulatory News | 04 Oct, 2019

Updated : 07:04

RNS Number : 7432O
Civitas Social Housing PLC
04 October 2019
 

 

4 October 2019

 

CIVITAS SOCIAL HOUSING PLC

("Civitas" or the "Company")

 

 

TRANSACTION IN OWN SHARES

 

 

On 3 October 2019, Civitas Social Housing PLC ("Civitas" or the "Company"), the leading supported living and social housing REIT, bought into treasury 150,000 ordinary shares of 0.01p each in the capital of the Company ("Ordinary Shares") at a price of 85.14p per Ordinary Share.

In respect of the purchase of own shares the Board and the Investment Adviser note the discount to IFRS net asset value at which the Company's Ordinary Shares presently trade. The Board believes that buybacks can be attractive for investment purposes at the current discount to NAV as it provides NAV accretion for ongoing shareholders.

The Company intends to take a balanced approach to share buybacks whilst also taking into account the Company's significant investment pipeline, the availability of the Company's debt facilities and the impact of buybacks in reducing the size of the Company.

The Investment Adviser has developed an attractive pipeline of supported housing opportunities, a number of which are in advanced stages of due diligence and are expected to meet the Company's stringent investment criteria.

 

Total Voting Rights

Following the transaction, the Company's issued share capital is 622,461,380 Ordinary Shares. The Company holds 150,000 Ordinary Shares in treasury, which do not carry any voting rights. Accordingly, the total number of voting rights in the Company is 622,311,380 Ordinary Shares. This figure may be used by shareholders as the denominator for the purposes of calculating whether or not they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

For further information, please contact:

 

Civitas Housing Advisors Limited

Paul Bridge                            Tel: +44 (0)20 3058 4844

Andrew Dawber                   Tel: +44 (0)20 3058 4846

 

Cenkos Securities PLC

Sapna Shah                           Tel: +44 (0)20 7397 1922

Tom Scrivens                        Tel: +44 (0)20 7397 1915

 

Liberum Capital Limited

   Steve Pearce

Tel: +44 (0) 20 3100 2222

   Gillian Martin

 

 

 

Buchanan

Helen Tarbet / Henry Harrison-Topham          Tel: +44 (0) 20 7466 5000

Henry Wilson / Hannah Ratcliff                         civitas@buchanan.uk.com

 

 

Notes:

Civitas Social Housing PLC is the first Real Estate Investment Trust offering pure play exposure to social housing across the UK.  The Company is advised by Civitas Housing Advisors Limited, who are authorised and regulated by the Financial Conduct Authority under Firms Reference Number 815699. The Company is listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in November 2016.  

 

 

 


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