Source - RNS
RNS Number : 4817O
RDI REIT PLC
18 May 2018
 

RDI REIT P.L.C.

("RDI" or the "Company" or the "Group")

(Registration number 010534V)

LSE share code: RDI

JSE share code: RPL

ISIN: IM00B8BV8G91

LEI: 2138006NHZUMMRYQ1745

 

Transaction in Own Shares

 

Further to the announcement on 9 May 2018 regarding a share buy-back programme, RDI, the FTSE 250 income-focused UK-REIT, advises that on 17 May 2018 Peel Hunt LLP on behalf of the Company, purchased 626,739 ordinary shares, with a par value of 8 pence each, in the capital of the Company ("Ordinary Shares") on market, at an average price of 36.42 pence per Ordinary Share (the "Purchase"). The Ordinary Shares purchased for cancellation represent approximately 0.03 per cent of the current issued share capital of the Company. The Company does not hold any shares in treasury.

The Purchase was in accordance with the terms of the general authority to make market purchases of its own shares granted by shareholders of the Company on 25 January 2018.

For the purpose of the Financial Conduct Authority's Disclosure and Transparency Rules, the total number of Ordinary Shares in issue as at the date of this notice (taking into account the abovementioned Ordinary Shares purchased for cancellation by the Company) is 1,901,317,555.

This figure represents the total voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the schedule below contains a summary and a detailed information about the purchases made by Peel Hunt LLP on behalf of the Company as part of the share buy-back programme.

 

For further information, please contact:

RDI REIT P.L.C.


Mike Watters, Donald Grant

Tel: +44 (0) 20 7811 0100

FTI Consulting


UK Public Relations Adviser


Dido Laurimore, Claire Turvey, Ellie Sweeney

Tel: +44 (0) 20 3727 1000

Instinctif Partners


SA Public Relations Adviser


Frederic Cornet

Tel: +27 (0) 11 447 3030

JSE Sponsor


Java Capital

Tel: + 27 (0) 11 722 3050

 

Schedule 1: Schedule of Purchases

Date of Purchase:

17/05/2018

Number of Ordinary Shares purchased:

626,739

Highest price paid per share (pence):

36.55

Lowest price paid per share (pence):

36.35

Average price paid per share (pence):

36.42

Broker-dealer:

Peel Hunt LLP

 

Schedule 2: Individual transactions:

Number of shares purchased

Transaction price

Time of transaction

Trading venue

415,000

36.35 pence

10:09:55

LSE

211,739

36.55 pence

13:02:14

LSE

 

Schedule 3: Aggregate information

Venue

Volume-weighted average

Aggregated volume

LSE

36.42 pence

626,739

 

About RDI

 

RDI is a FTSE 250 UK Real Estate Investment Trust (UK-REIT) committed to becoming the UK's leading income focused REIT. The Company's income-led business model and strategic priorities are designed to offer shareholders superior, sustainable and growing income returns, with a target growth in underlying earnings per share of 3%-5% across the medium term.

Income sustainability is underpinned by a diversified portfolio and tenant base, with no overreliance on any one sector or tenant, together with an efficient capital structure. The secure and growing income stream is 25.9% indexed and has a WAULT of 6.8 years to first break (8.2 years to expiry).  This is complemented by an average debt maturity of 7.0 years of which over 90% of interest costs are either fixed or capped. The Company is focused on all aspects impacting shareholder distributions and reports one of the lowest cost ratios in the industry whilst maintaining a low cost of debt. 

The Company owns properties independently valued at £1.6bn in the United Kingdom and Germany, Europe's two largest, liquid and transparent property markets. RDI invests in assets with strong property fundamentals spread across UK offices (including London serviced offices), UK logistics, UK shopping centres, UK retail parks, UK hotels and German retail. RDI is well placed to take advantage of the increasing occupier requirement for real estate owners to become high quality service providers, given its scalable operational platforms and nearly a third of the portfolio invested in hotels and London serviced offices.

RDI holds a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange and is included within the FTSE 250, EPRA, GPR, JSE All Property and JSE Tradeable Property indices. 

For more information on RDI, please refer to the Company's website www.rdireit.com

All figures as at 28 February 2018


This information is provided by RNS
The company news service from the London Stock Exchange
 
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