Net Asset Value(s)

RNS Number : 2521F

Target Healthcare REIT Limited

22 May 2013

 



To:                   RNS Company Announcements

Date:                22 May 2013

Company:        Target Healthcare REIT Limited

Subject:           Net Asset Value

Net Asset Value

Following its listing on 7 March 2013, the Company is pleased to announce that its unaudited net asset value ('NAV') per share as at 31 March 2013 was 94.7 pence. As at 31 March 2013 the Company had acquired seven care homes for an aggregate consideration of £32.2 million and had cash balances of approximately £12.3 million.

The NAV has been calculated under International Financial Reporting Standards ('IFRS'). It is based on the external valuation of the Company's property portfolio prepared by Colliers Limited.

The next quarterly valuation of the property portfolio will be conducted by an external valuer during June 2013 and the NAV per share as at 30 June 2013 will be announced in August 2013.

In accordance with the Prospectus dated 22 February 2013, the Company expects to declare its first dividend in August 2013.  The NAV includes income and no provision for an accrued dividend has been made.

Enquiries:

Kenneth MacKenzie

Target Advisers

01786 406 581

Graeme Caton

Winterflood Securities

020 3100 0268

 

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