DISPOSAL AT LATEST BOOK VALUE OF A NON-CORE CARE HOME AND SMALLER RELATED PARTY TRANSACTION
The Board of Directors of Impact Healthcare REIT plc (ticker: IHR), the real estate investment trust which gives investors exposure to a diversified portfolio of UK healthcare real estate assets, in particular care homes, is pleased to announce that the Group has sold a non-core care home for £1.25 million, in-line with the latest valuation as at 31 December 2022.
Impact has exchanged on the sale of Mulberry Manor, a 49-bed care home in Mexborough, acquired as part of the seed portfolio in May 2017. Completion is expected during the first quarter. The home was not a long-term strategic asset for Impact or the tenant, Minster Care Management Limited (“Minster“), and as part of the Group’s active portfolio management strategy, was jointly marketed.
As part of the sale Impact has entered into a lease surrender with Minster for nil consideration. Minster is deemed to be a related party of the Company under the Listing Rules. The lease surrender with Minster is therefore deemed to be a smaller related party transaction for the purposes of Listing Rule 11.1.10R and this announcement is therefore made in accordance with Listing Rule 11.1.10R(2)(c).
FOR FURTHER INFORMATION, PLEASE CONTACT:
Impact Health Partners LLP via Maitland/AMO
Jefferies International Limited
Tom Yeadon, email@example.com
Neil Winward, firstname.lastname@example.org
Tel: +4420 7029 8000
Winterflood Securities Limited
Neil Langford, email@example.com
Joe Winkley, firstname.lastname@example.org
Tel: +4420 3100 0000
H/Advisors Maitland (Communications Adviser)
James Benjamin, email@example.com
Alistair de Kare-Silver
Tel: +44 7747 113 930
The Company’s LEI is 213800AX3FHPMJL4IJ53.
Further information on Impact Healthcare REIT is available at www.impactreit.uk.