TIDMIHR
RNS Number : 5866Y
Impact Healthcare REIT PLC
10 May 2019
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, BY ANY MEANS OR MEDIA, IN OR INTO THE
UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, JAPAN, THE REPUBLIC
OF SOUTH AFRICA, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA
("EEA") (OTHER THAN THE UNITED KINGDOM) AND (PRIOR TO THE DATE ON
WHICH THE UK LEAVES THE EUROPEAN UNION) TO PROFESSIONAL INVESTORS
IN THE REPUBLIC OF IRELAND AND THE NETHERLANDS ) OR ANY OTHER
JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO, SAVE WHERE
EXPRESSLY PERMITTED BY THE COMPANY.
10 May 2019
IMPACT HEALTHCARE REIT PLC
(the "Company" or, together with its subsidiaries, the
"Group")
RESULTS OF ISSUE
Further to its announcement on 15 April 2019, the board of
Directors (the "Board") of Impact Healthcare REIT plc (ticker:
IHR), the real estate investment trust which provides investors
with exposure to a diversified portfolio of UK healthcare real
estate assets, in particular residential care homes, is pleased to
announce that the Company's placing (the "Placing") is
significantly oversubscribed.
The Board, after careful consideration with the Company's
Investment Manager and in consultation with its joint bookrunners,
has exercised its right to increase the size of the Placing to
GBP100 million. Accordingly, a total of 94,339,623 ordinary shares
("New Ordinary Shares") in the Company will be issued at the
Placing Price of 106 pence per New Ordinary Share (the
"Issue").
The Placing remains oversubscribed at the increased size of
GBP100 million and therefore applications have been scaled back in
accordance with the terms set out in the prospectus published by
the Company on 11 February 2019 (the "Prospectus").
The net proceeds of the Placing are expected to be used to: (i)
repay the amounts drawn under the Company's revolving credit
facilities; (ii) pursue a number of near-term pipeline
opportunities; and/or (iii) invest in value enhancing opportunities
within the Company's existing portfolio.
Application has been made for the admission of 94,339,623 New
Ordinary Shares to the premium segment of the Official List and to
trading on the Main Market of the London Stock Exchange
("Admission"). Admission is expected to occur at 8.00 a.m. on 15
May 2019 and the New Ordinary Shares will trade under the ticker
IHR (ISIN: GB00BYXVMJ03).
Following the Issue, the Company's issued share capital will
comprise 286,546,454 Ordinary Shares and this is the total number
of Ordinary Shares with voting rights in the Company. This figure
should be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure Guidance
and Transparency Rules.
Commenting on today's announcement, Rupert Barclay,
Non-executive Chairman of Impact Healthcare REIT plc, said:
"This successful capital raise of GBP100 million will enable the
Company to build on its successes to date by executing on its
pipeline of attractive near term investment opportunities, each of
which is expected to generate further value for shareholders. These
investments are expected to enhance the diversification of the
portfolio and tenant mix and enable the Company to invest in the
next phase of organic growth within the Group's existing
portfolio.
We are delighted by the strong response from both existing and
new investors and, on behalf of the Board and the Investment
Manager, I would like to thank shareholders for their continued
support."
Terms used in this announcement shall, unless the context
otherwise requires, bear the meanings given to them in the
Prospectus.
This announcement contains inside information.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Impact Health Partners LLP via Maitland/AMO
Mahesh Patel
Andrew Cowley
Winterflood Securities Limited Tel: 020 3100 0000
Joe Winkley
Neil Langford
RBC Capital Markets Tel: 020 7653 4000
Rupert Walford
Matthew Coakes
Maitland/AMO (Communications Tel: 020 7379 5151
Adviser) Email: impacthealth-maitland@maitland.co.uk
James Benjamin
Andy Donald
The Company's LEI is: 213800AX3FHPMJL4IJ53. Its home member
state is the United Kingdom.
NOTES
Impact Healthcare REIT plc is a real estate investment trust
("REIT") which aims to provide shareholders with an attractive
return, principally in the form of quarterly income distributions
and with the potential for capital and income growth, through
exposure to a diversified portfolio of UK healthcare real estate
opportunities, in particular residential care homes. The Group's
investment policy is to acquire, renovate, extend and redevelop
high quality healthcare real estate assets in the UK and lease
those assets primarily to healthcare operators providing
residential healthcare services under full repairing and insuring
leases.
The Company's intention is to pay a target dividend of 6.17
pence per share for the year to 31 December 2019(1) .
The Company will seek to grow the target dividend in line with
the inflation-linked rental uplifts received by the Group under the
terms of the rent review provisions contained in the Group's leases
in the prior financial year.
The Company's ordinary shares are admitted to premium segment of
the Official List of the UK Financial Conduct Authority and to
trading on the Main Market for listed securities of the London
Stock Exchange.
(1) This is a target only and not a profit forecast. There can
be no assurance that the target will be met and it should not be
taken as an indicator of the Company's expected or actual
results.
IMPORTANT INFORMATION
Neither the content of the Company's website, nor the content on
any website accessible from hyperlinks on its website for any other
website, is incorporated into, or forms part of, this announcement
nor, unless previously published by means of a recognised
information service, should any such content be relied upon in
reaching a decision as to whether or not to acquire, continue to
hold, or dispose of, securities in the Company.
This announcement has been prepared by, and is the sole
responsibility of the Directors of Impact Healthcare REIT plc.
This document may not be published, distributed or transmitted
by any means or media, directly or indirectly, in whole or in part,
in or into the United States. This document does not constitute an
offer to sell, or a solicitation of an offer to buy, securities in
the United States. The securities mentioned herein have not been,
and will not be, registered under the U.S. Securities Act of 1933,
as amended (the "US Securities Act") or with any securities
regulatory authority of any state or other jurisdiction of the
United States and will not be offered, sold, exercised, resold,
transferred or delivered, directly or indirectly, in or into the
United States or to, or for the account or benefit of, any US
person (as defined under Regulation S under the US Securities Act).
The Company has not been, and will not be, registered under the
U.S. Investment Company Act of 1940, as amended.
Neither this announcement nor any copy of it may be: (i) taken
or transmitted into or distributed in any member state of the
European Economic Area (other than the United Kingdom and (prior to
the date on which the UK leaves the European Union) to professional
investors in the Republic of Ireland or the Netherlands), Canada,
Australia, Japan or the Republic of South Africa or to any resident
thereof, or (ii) taken or transmitted into or distributed in Japan
or to any resident thereof. Any failure to comply with these
restrictions may constitute a violation of the securities laws or
the laws of any such jurisdiction. The distribution of this
announcement in other jurisdictions may be restricted by law and
the persons into whose possession this document comes should inform
themselves about, and observe, any such restrictions.
This announcement may include "forward-looking statements". All
statements other than statements of historical facts included in
this announcement, including, without limitation, those regarding
the performance of the Company's portfolio and the strategies,
performance, results of operations, financial condition and
prospects of the Company's tenants.
Forward-looking statements are subject to risks and
uncertainties and accordingly the Company's actual future financial
results and operational performance may differ materially from the
results and performance expressed in, or implied by, the
statements. These factors include but are not limited to those
described in the Circular and those which will be described in the
prospectus, once published. These forward-looking statements speak
only as at the date of this announcement. The Company expressly
disclaims any obligation or undertaking to update or revise any
forward-looking statements contained herein to reflect actual
results or any change in the assumptions, conditions or
circumstances on which any such statements are based unless
required to do so by the Financial Services and Markets Act 2000,
the Listing Rules or Prospectus Rules of the Financial Conduct
Authority or other applicable laws, regulations or rules.
Winterflood Securities Limited ("Winterflood"), which is
authorised and regulated in the United Kingdom by the Financial
Conduct Authority, and RBC Europe Limited (trading as "RBC Capital
Markets") which is authorised by the Prudential Regulation
Authority and authorised and regulated in the United Kingdom by the
Financial Conduct Authority, are each acting exclusively for the
Company and for no one else in relation to the matters described in
this announcement. Neither Winterflood nor RBC Capital Markets will
regard any other person (whether or not a recipient of this
Prospectus) as its client in relation to thereto and will not be
responsible to anyone other than the Company for providing the
protections afforded to its clients or for providing any advice in
relation to the any transaction or arrangement referred to in this
announcement. Neither Winterflood nor RBC Capital Markets makes any
representation express or implied in relation to, nor accepts any
responsibility whatsoever for, this announcement, its contents or
otherwise in connection with it or any other information relating
to the Company, whether written, oral or in a visual or electronic
format.
Rupert Barclay
Chairman
Impact Healthcare REIT plc
9 Berkeley Street, London W1J 8DW
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ROILLFLTETIAIIA
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