Home REIT PLC

Share Issue/Capital Change • Oct 8, 2020

National Storage Mechanism | Additional information

RNS Number : 4416B

Home REIT PLC

08 October 2020

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA (OTHER THAN THE UNITED KINGDOM) OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL. PLEASE SEE THE SECTION ENTITLED "DISCLAIMER" TOWARDS THE END OF THIS ANNOUNCEMENT.

This announcement does not constitute, and may not be construed as, an offer to sell or an invitation to purchase, investments of any description, or a recommendation regarding the issue or the provision of investment advice by any party. No information set out in this announcement is intended to form the basis of any contract of sale, investment decision or any decision to purchase shares in the Company.

8 October 2020

HOME REIT PLC

(the "Company" or "Home REIT")

RESULTS OF initial PUBLIC OFFERING

SUCCESSFUL FUNDRAISING OF £240,570,465

Home REIT is pleased to announce that it has successfully raised gross proceeds of £240,570,465 pursuant to the placing, offer for subscription and intermediaries offer (the "Issue") of its ordinary shares (the "Ordinary Shares") as described in the prospectus published by the Company on 22 September 2020 (the "Prospectus").

Applications have been received under the Issue for 240,570,465 Ordinary Shares which will be issued at a price of 100 pence per Ordinary Share.  Of these, 197,911,014 Ordinary Shares were issued under the placing, 22,466,647 Ordinary Shares were issued under the offer for subscription and 20,192,804 Ordinary Shares were issued under the intermediaries offer.

All applications were met in full.

Applications have been made for admission of the Ordinary Shares to the premium segment of the Official List of the Financial Conduct Authority and to trading on the premium segment of the main market of the London Stock Exchange. Admission is expected to occur at 8.00 a.m. on 12 October 2020.

The Company will seek to contribute to the alleviation of homelessness in the UK, whilst targeting inflation-protected income and capital returns, by funding the acquisition and creation of a diversified portfolio of high-quality accommodation assets dedicated to providing accommodation for the homeless across the UK. The accommodation assets will be let or pre-let on very long (typically 20 to 30 years) leases, containing inflation-linked or fixed uplift rent review provisions, to registered charities, housing associations, community interest companies and other regulated organisations which have a proven operating track record in providing low-cost accommodation to the homeless and which receive housing benefit or comparable support from local or central government to fund the provision of such accommodation to the homeless.

Lynne Fennah, Chairman of Home REIT plc, commented:

"We are delighted with the strong response received from a broad range of high calibre investors to our initial public offering - the largest investment trust IPO of this year and the largest UK focussed REIT IPO for over three years. We have a substantial, identified pipeline of high-quality, homeless accommodation assets that we expect to acquire and we will now work towards deployment of the net proceeds, providing our new shareholders with secure income and an attractive capital return and at the same time contributing to the fight against homelessness in the UK."

Jamie Beale, Partner at Alvarium Home REIT Advisors Limited, said:

"The success of the issue is a strong endorsement of the investment advisory team's track record, specialist sector expertise and strong relationships, placing us in an ideal position to capitalise on the significant investment opportunity that now exists in in the UK homeless accommodation asset market. We welcome our new shareholders and look forward to working with them and to deliver on our objective of providing secure inflation-protected income and capital returns to shareholders, whilst delivering a positive social impact."

Home REIT will be managed by Alvarium Fund Managers (UK) Limited and advised by Alvarium Home REIT Advisors Limited (both members of the group trading as Alvarium Investments (formerly LJ Partnership), whose ultimate parent is Alvarium Investments Limited).

Home REIT is targeting a minimum annual dividend of 5.5 pence per Ordinary Share, starting from the financial period commencing 1 September 20211, with the potential to grow the dividend in absolute terms through upward-only inflation-protected long-term lease agreements. Home REIT is targeting a net total shareholder return of at least 7.5 per cent. per annum over the medium term.1

Dickson Minto W.S. (the "Sponsor") is acting as sole sponsor to the Company.

Alvarium Securities Limited ("Alvarium Securities") (also a member of Alvarium Investments) is acting as sole broker, placing agent and intermediaries offer adviser to the Company.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Alvarium Home REIT Advisors Limited Jamie Beale Gareth Jones	Via Maitland/AMO below
Alvarium Securities Limited (Sole Broker, Placing Agent and Intermediaries Offer Adviser) Mark Thompson Eddie Nissen David Dowell Ben Nott	Tel: +44 (0) 207 016 6713 +44 (0) 207 016 6711
Dickson Minto W.S. (Sponsor) Fiona Thompson Douglas Armstrong	Tel: +44 (0) 207 649 6933 +44 (0) 207 649 6823
Maitland/AMO (Communications adviser) James Benjamin	Tel: +44 7747 113 930 Email: james.benjamin@maitland.co.uk

Notes:

1. There can be no guarantee that the Company's investment strategy will be successful and the value of any investment in the Company may fall as well as rise. The annual dividend and net total shareholder return targets stated above are targets only and are not a profit forecast. There can be no assurance that these targets will be achieved and they should not be taken as an indication of the Company's expected future results. Accordingly, potential investors should not place any reliance on these targets in deciding whether or not to invest in the Company and should decide for themselves whether or not the target dividend and target net total shareholder returns are reasonable or achievable.

Disclaimer

This is a financial promotion and is not intended to be investment advice. The content of this announcement, which has been prepared by and is the sole responsibility of the Company, has been approved by Alvarium Fund Managers (UK) Limited solely for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000 (as amended). Alvarium Fund Managers (UK) Limited is authorised and regulated in the United Kingdom by the FCA (FCA number: 751355) and has its registered office at 10 Old Burlington Street, London, W1S 3AG.

This announcement does not constitute, and may not be construed as, an offer to sell or an invitation to purchase investments of any description, a recommendation regarding the issue or the provision of investment advice by any party. No information set out in this announcement is intended to form the basis of any contract of sale, investment decision or any decision to purchase shares in the Company.

The information contained in this announcement is given at the date of its publication.

Alvarium Securities is an appointed representative of Alvarium RE Limited, which is authorised and regulated in the United Kingdom by the FCA. The Sponsor is authorised and regulated in the United Kingdom by the FCA. Each of Alvarium Securities and the Sponsor is acting exclusively for the Company in connection with the matters described in this announcement and neither Alvarium Securities nor the Sponsor is acting for or advising any other person, or treating any other person as their respective client in relation thereto and neither Alvarium Securities nor the Sponsor will be responsible for providing the regulatory protection afforded to their respective clients, nor for providing advice to any other person in relation to the matters contained herein.

The shares of the Company have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold into or within the United States absent registration, except pursuant to an applicable exemption from, or in a transaction that is not subject to, the registration requirements of the Securities Act and in compliance with the securities laws of any relevant state or other jurisdiction of the United States. Moreover, the shares of the Company have not been, nor will they be, registered under the applicable securities laws of Australia, Canada, the Republic of South Africa, Japan or any member state of the EEA (other than the United Kingdom). Further, the Company is not, and will not be, registered under the US Investment Company Act of 1940, as amended. The shares of the Company will be offered outside of the United States pursuant to the provisions of Regulation S of the Securities Act. Subject to certain exceptions, the shares of the Company may not be offered or sold in the United States, Australia, Canada, the Republic of South Africa, Japan or any member state of the EEA (other than the United Kingdom or to professional investors in certain EEA member states for which marketing passports have been obtained) or to, or for the account or benefit of, any national, resident or citizen of the United States, Australia, Canada, the Republic of South Africa, Japan or any member state of the EEA (other than the United Kingdom or to professional investors in certain EEA member states for which marketing passports have been obtained). The Issue, and the distribution of this announcement, in other jurisdictions may be restricted by law and the persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.

The value of shares and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements. When you sell your investment you may get back less than you originally invested. Figures may refer to past performance and past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations.

This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology. All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, strategy, plans, proposed acquisitions and objectives, are forward-looking statements.

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 Prospectus. These forward-looking statements speak only as at the date of this announcement and cannot be relied upon as a guide to future performance. The Company, the Investment Adviser, the AIFM, the Sponsor and Alvarium Securities expressly disclaim 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 Prospectus Regulation, the Prospectus Regulation Rules of the Financial Conduct Authority, the EU Market Abuse Regulation or other applicable laws, regulations or rules.

None of the Company, the Investment Adviser, the AIFM, the Sponsor or Alvarium Securities, or any of their respective affiliates, accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to this announcement, including the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of the announcement or its contents or otherwise arising in connection therewith. The Company, the Investment Adviser, the AIFM, the Sponsor and Alvarium Securities, and their respective affiliates, accordingly disclaim all and any liability whether arising in tort, contract or otherwise which they might otherwise have in respect of this announcement or its contents or otherwise arising in connection therewith.

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