Clarification re Westmoreland Notice

RNS Number : 5450Z

Civitas Social Housing PLC

20 May 2019

 

20 May 2019

CIVITAS SOCIAL HOUSING PLC

("Civitas" or the "Company")

Clarification re RSH Update Judgement on Westmoreland

Properties owned by other Landlords

Civitas, a leading social housing REIT, notes the update judgment issued this morning by the Regulator of Social Housing ("RSH") in respect of a small property portfolio managed by Westmoreland  ("Judgement").

For clarity, this Judgement is not in relation to any financial matters and relates to properties which are not owned by Civitas, but by other landlords.  

Accordingly, this Judgement has no effect on any of the properties owned by Civitas and leased to Westmoreland, which continues to meet its obligations to Civitas and to provide high quality homes for tenants whilst producing rental income as expected.

Commenting on the Judgement Westmoreland stated that:

 "We have already  implemented a plan of action which we are confident addresses and remedies the points raised in the Judgement. We are also confident that the issues are specific to one small portfolio. Having newly appointed an experienced Chairman, Board members and Chief Executive for Westmoreland the issues raised in both this and the previous Judgement are being addressed so that Westmoreland will be able to demonstrate that it is a strong, well governed and successful organisation."

Civitas is encouraged by and supportive of the actions outlined by Westmoreland and remains committed to working with all its Housing Association partners to continue to improve standards in the sector.

For further information, please contact:

Civitas Housing Advisors Limited

Paul Bridge                                                                         Tel: [phone]

Andrew Dawber                                                                Tel: [phone]

Cenkos Securities PLC

Sapna Shah                                                                         Tel: [phone]

Tom Scrivens                                                                      Tel: [phone]

Buchanan

Helen Tarbet / Henry Harrison-Topham                       Tel: [phone]

Henry Wilson / Hannah Ratcliff                                     [e-mail]

Notes:

Civitas Social Housing PLC is the first Real Estate Investment Trust offering pure play exposure to social housing in England and Wales.  The Company is advised by Civitas Housing Advisors Limited, who are authorised and regulated by the Financial Conduct Authority under Firms Reference Number 815699. The Company is listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in November 2016.  The Company is a constituent of the FTSE 250 index.

 

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