REG - Triple Point Soc.Hsg - Independent Review of IM Arrangements - Outcome

Social Housing REITAnnouncement

30/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240930:nRSd0973Ga&default-theme=true

RNS Number : 0973G  Triple Point Social Housing REIT  30 September 2024

 

30 September
2024

 

Triple Point Social Housing REIT plc

(the "Company" or, together with its subsidiaries, the "Group")

 

INDEPENDENT REVIEW OF INVESTMENT MANAGEMENT ARRANGEMENTS - OUTCOME

 

Further to the announcement on 13 September 2024, the Board of Triple Point
Social Housing REIT plc (ticker: SOHO) announces that after careful
consideration it has selected Atrato Partners Limited ("Atrato") to be
appointed as the Company's new investment manager.

 

The appointment of Atrato is subject to agreeing a new investment management
agreement (the "New IMA"). The key terms of the New IMA will be announced in
due course, however the Board is satisfied that the New IMA will deliver
significant cost savings whilst maintaining the existing high levels of
service provision.

 

The formal transition of the investment management services from Triple Point
Investment Management LLP ("Triple Point") to Atrato is expected to occur in
January 2025.

 

In the interim period, the Board and Atrato will work collaboratively with
Triple Point, and the Group's other advisers and stakeholders, to affect an
orderly transition of services. In particular, the transition period will
focus on ensuring that the welfare of the residents of the Group's properties
is prioritised, operational performance is preserved and that progress with
ongoing corporate initiatives is maintained, as appropriate.

 

 

Chris Phillips, Chair of Triple Point Social Housing REIT plc, commented:

 

"The Board would like to thank Triple Point for their support and the
consistent operational performance of the Company since IPO. Triple Point's
commitment has been reflected in the constructive approach taken to the
independent review of investment management arrangements and the proposed
transition of services to Atrato."

 

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

 

   Triple Point Social Housing REIT plc     Via Brunswick Group
   Chris Phillips

   Akur Limited (Financial Adviser)         ssergeant@akur.co.uk (mailto:ssergeant@akur.co.uk)
   Siobhan Sergeant
   Tom Frost

   Brunswick Group (Financial PR Adviser)   Tel: 020 7404 5959
   Nina Coad
   Robin Wrench
   Mara James

 

The Company's LEI is 213800BERVBS2HFTBC58.

 

Further information on the Company can be found on its website
at www.triplepointreit.com (http://www.triplepointreit.com/) .

 

NOTES:

 

About the Company

The Company invests in primarily newly developed social housing assets in the
UK, with a particular focus on supported housing. The majority of the assets
within the portfolio are subject to inflation-linked, long-term, Fully
Repairing and Insuring ("FRI") leases with Approved Providers (being Housing
Associations, Local Authorities or other regulated organisations in receipt of
direct payment from local government). The portfolio comprises investments
into properties which are already subject to a lease with an Approved
Provider, as well as forward funding of pre-let developments but does not
include any direct development or speculative development.

 

The Company was admitted to trading on the Specialist Fund Segment of the Main
Market of the London Stock Exchange on 8 August 2017 and was admitted to the
premium segment of the Official List of the Financial Conduct Authority and
migrated to trading on the premium segment of the Main Market on 27 March
2018.  The Company operates as a UK Real Estate Investment Trust ("REIT") and
is a constituent of the FTSE EPRA/NAREIT index.

 

About Atrato

Atrato Group (together with its subsidiaries, "Atrato") is an alternative
investment management and advisory group specialising in long term investment
strategies that provide stable, predictable, non-cyclical returns. Atrato
advises, arranges and makes principal investments across the asset backed long
income spectrum.

 

Atrato was established in 2016 by Ben Green and Steve Windsor to leverage
their long-standing real estate, infrastructure and corporate finance
experience to develop a range of investment strategies for investors.

 

Atrato is the UK's leading investment specialist in supermarket real estate.
Atrato is the investment adviser to Supermarket Income REIT plc, the only
REIT dedicated to European grocery property.

 

Atrato is the investment adviser to Atrato Onsite Energy plc, the only
Investment Trust dedicated to UK commercial onsite energy generation.

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDGZGZLVNVGDZM