Admission to newly launched Social Stock Exchange

RNS Number : 4495G

Primary Health Properties PLC

06 June 2013

 



Primary Health Properties

Admitted to newly launched Social Stock Exchange

Primary Health Properties PLC (PHP), one of the largest providers of modern primary healthcare facilities, is pleased to announce that it has been admitted as an initial member of the Social Stock Exchange (SSE), a unique platform launched today by Prime Minister David Cameron. PHP is one of the first companies to be welcomed to the newly launched platform which was designed to open the public financial markets to social impact investment with high growth businesses in markets such as social and affordable housing, clean-tech waste, water, recycling, renewable energy, sustainable transport, education, health and culture.

The SSE gives investors access to publicly listed businesses with strong social and environmental purpose, and guarantees full and transparent disclosure on the impact of those businesses.  PHP, listed on the main market of the London Stock Exchange (LSE), invests in medical centres leased principally to GPs, NHS organisations and other associated healthcare users. Demand for new purpose built GP premises is vastly outstripping supply as Government commitments to enhance the NHS primary care estate (GP premises) are met. PHP currently owns approximately £650 million of assets and is currently involved in a £60 million equity fund raising as it plans to grow the gross value of its portfolio to in excess of £1 billion.

The SSE is supported by a number of high profile organisations including the London Stock Exchange, City of London Corporation, Big Society Capital and the Rockefeller Foundation. David Cameron said in a speech ahead of the G8 summit that the SSE demonstrates that the UK is at the heart of financial innovation and social investment. The global market for social impact investment is estimated to be worth $9 billion and expected to grow to between $200 billion and $650 billion in the next decade.[1]

Other companies admitted to the SSE include: Places for People, Scope, Good Energy plc, Ashley House plc, V22 plc, Straight plc, ITM Power plc, ValiRx plc, Halosource plc and Accsys plc.

Harry Hyman, Managing Director of Primary Health Properties, said:

"We are pleased to be one of the founding members of the SSE, which we believe is an important platform enabling investors to invest in socially valuable companies that operate the highest standards of transparency, and we are proud to be recognised as a generator of positive social impact.

"The passing of the Health and Social Care Act in 2012 paved the way for significant changes to the healthcare system of delivery. The demands placed upon the NHS and the structural changes targeted by the Act are all strengthening the move to deliver more healthcare services in the local community which forms part of PHP's core business."

Pradeep Jethi, Co-founder & CEO of SEE, said:

"We believe that organisations that place social and environmental aims at the core of their activities, whilst operating on robust revenue and growth models, are the ones best equipped to generate the kind of positive impact that creates real change.  Nobody can guarantee a return on capital - but the SSE can guarantee the social benefit and standards of each and every company they admit."

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For additional information please contact:

Serena Vento

Social Stock Exchange

M. [phone]   T. [phone]

Mail: [e-mail] 

Primary Health Properties

Harry Hyman / Phil Holland

T [phone]

Pelham Bell Pottinger

David Rydell / Victoria Geoghegan / Elizabeth Snow

T: + (0)20 7861 3232

About SSE

The Social Stock Exchange is a unique marketplace designed to connect publicly listed social impact businesses with investors seeking to generate positive impact alongside a financial return.

Its aim is to bridge the information gap between values-based investors and growth businesses that are delivering positive social and environmental impact through their core activities. By doing this the SSE provides investors with the knowledge they need to identify and compare those organisations that deliver demonstrable value to society and the environment. This will allow the social investment market to grow to scale, leading to the creation of more impact.

Through its online portal, the SSE gives member companies the opportunity to articulate and evidence their social and environmental impact, whilst giving investors the tools and frameworks necessary to assess the social value generated by the businesses featured. 

The Social Stock Exchange's rigorous admissions process includes the publication of an independent Impact Report prepared by specialists in social impact. Applications are reviewed and approved by an independent Admissions Panel, meaning that investors can rely on a sound vetting procedure, based on best practice disclosure.

For more information about the SSE, visit us at http://www.socialstockexchange.com. 

[1]  Social impact investors plan to commit $9 billion in 2013 (JP Morgan, The Impact Investor Survey, January 2013) and JP Morgan predicts a market opportunity of between $200 billion and $650 billion in the next decade (JP Morgan, Impact Investment: a Burgeoning Asset Class, November 2010).

 

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