Source - RNS
RNS Number : 2905R
RDI REIT PLC
14 June 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

 

RESULTS OF DIVIDEND ELECTION

 

RDI shareholders are referred to the announcement released on 21 May 2018 regarding the election being offered to receive the interim dividend of 1.35 pence per share in respect of the six months ended 28 February 2018 as either a cash dividend or a scrip dividend by way of an issue of new RDI shares (of the same class as existing shares) credited as fully paid up ("Scrip Dividend").

 

The Company is pleased to announce that election forms for 282,107,974 ordinary shares of 8 pence each in the Company ("Ordinary Shares") have been received, representing a 14.9 per cent take up by shareholders, for which 9,371,173 Scrip Dividend shares are to be issued, being 0.5 per cent of the current issued share capital of the Company.

 

An application will be made for the Scrip Dividend shares, which will rank pari passu in all respects with the Company's existing issued Ordinary Shares, to be admitted to the Premium Segment of the Official List of the United Kingdom Listing Authority, to trading on the London Stock Exchange's Main Market for listed securities and to be listed on the JSE ("Admission"). It is expected that Admission will occur on Monday, 25 June 2018.

 

This announcement is being made ahead of the proposed schedule, prior to Admission.

 

Following Admission, and further to the share buyback programme which has now completed, the total number of voting rights will be 1,900,449,536. All shares acquired under the buyback programme have been cancelled and no Ordinary Shares are held in treasury. The figure of 1,900,449,536 Ordinary Shares may then be used by shareholders in the Company as the denominator for the calculations by which they will 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.

For further information, please contact:

RDI REIT P.L.C.


Mike Watters, Stephen Oakenfull, 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, Lizelle du Toit

Tel: +27 (0) 11 447 3030

JSE Sponsor


Java Capital

Tel: + 27 (0) 11 722 3050

 

Note to editors

 

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


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