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Walls & Futures REIT PLC: Trading Update
Walls & Futures REIT PLC (WAFR) THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
10 May 2023 WALLS & FUTURES REIT PLC
(“Walls & Futures” or the “Company”)
Trading Update
Walls & Futures REIT plc (Ticker: WAFR), the Ethical Housing Investor and Developer, provides the following update of its trading and update of its net asset value (“NAV”) as at 31 March 2023.
Highlights
In the period to 31 March 2023 the unaudited NAV per share declined by a total of 10.8% to 87 pence per share. This as a result of the increase in UK interest rates and the broader macro-economic environment.
We are pleased to report that the quality of our covenants remains strong, and we have collected 100% of our Specialist Supported Housing rents (the Company, having disposed of its final legacy private residential property in 2021, now has all its property assets in Specialist Supported Housing) which have increased in line with the inflation caps of their leases.
The disposal of Pax Homes has now been completed and we are now moving forward to finalise the other elements restructuring set out in the general meeting circular announced on 6 February 2023. These other elements of the restructuring: the anticipated fund raise and broader investment strategy, should enable the Company to diversify our investments and mitigate potential risks, taking into account the impact of rising interest rates on commercial property values.
The Board of Directors thanks our investors for their continued support and look forward to providing further updates in due course.
For further information, contact:
Walls & Futures REIT PLC 0333 700 7171 Joe McTaggart, Chief Executive Website www.wallsandfutures.com
Allenby Capital Limited (Corporate Adviser) Nick Harriss/James Reeve 020 3328 5656
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | GB00BD04QG09 |
| Category Code: | TST |
| TIDM: | WAFR |
| LEI Code: | 213800CJV93R1FPNT553 |
| Sequence No.: | 242490 |
| EQS News ID: | 1628463 |
| End of Announcement | EQS News Service |