GCP Student Living plc (the "Company" or "Group")
Dividend Declaration and Net Asset Valuation
The Board of the Company is pleased to announce a second interim dividend of
1.41 pence per ordinary share, in respect of the quarter ended 31 December
2015. The second interim dividend will be paid on 4 March 2016 to ordinary
shareholders on the register as at 5 February 2016. A dividend of 1.41 pence
per ordinary share will be paid as a REIT property income distribution ("PID")
in respect of the Group's tax exempt property rental business.
As at close of business on 31 December 2015, the unaudited estimated EPRA net
asset value per ordinary share of the Company has increased to 135.35 pence
from 133.47 pence at 30 September 2015. The EPRA net asset value includes
income for the period (cum-income) and does not include a provision for an
accrued dividend for the quarter to 31 December 2015. The EPRA net asset value
(ex-income) is 133.94 pence per ordinary share.
As at 31 December 2015, the valuation of the Company's portfolio was £
400.5 million.
The Company's factsheet for the quarter ended 31 December 2015 will shortly be
available for review on the Company's website: http://www.gcpuk.com/
gcp-student-living-plc
28 January 2016
For further information please contact:
Gravis Capital Partners LLP
Tom Ward tom.ward@gcpuk.com 020 7518 1496
Nick Barker nick.barker@gcpuk.com 020 3142 7869
Cenkos Securities plc
Dion Di Miceli ddimiceli@cenkos.com 020 7397 1921
Sapna H. Shah sshah@cenkos.com 020 7397 1922
Tom Scrivens tscrivens@cenkos.com 020 7397 1915
Buchanan
Charles Ryland charlesr@buchanan.uk.com 020 7466 5000
Vicky Watkins victoriaw@buchanan.uk.com
About GCP Student Living plc
The Company was the first student accommodation REIT in the UK. The Company
mostly invests in modern, purpose-built, private student residential
accommodation and teaching facilities. Facilities will be located primarily in
and around London where the Investment Manager believes the Company is likely
to benefit from supply and demand imbalances for student residential
accommodation.
The Company owned and operated c.1,800 beds across five properties and had a
gross asset value of c.£413.3 million at 31 December 2015.
The Company's assets are primarily occupied by international students and offer
new high specification facilities and hotel-level concierge type services which
are attractive to overseas students.