15th Nov 2007 10:55
Primary Health Properties PLC15 November 2007 15 November 2007 Primary Health Properties PLC ("PHP" or the "Company") AGM Statement At the Annual General Meeting of PHP, one of the UK's leading providers ofmodern primary healthcare facilities, held today (15 November 2007), theManaging Director, Harry Hyman, gave the following statement to shareholders: "Since the announcement of our results on 20 September 2007, we have continuedto make progress in expanding our portfolio. PHP has a robust and low risk business model. With a portfolio which is almost100% let and with average remaining lease lengths of around 20 years and giventhe strength and tenure of its rental covenants, the Company is well positionedto deliver its business plan over the medium term. The business is conservatively financed and has a relatively low level ofgearing. In addition to the length of its leases, PHP derives almost 90% of itsannual rental income of approximately £15m from the NHS, making its income andcash flow secure. A further 10% of the portfolio income derives from pharmacyunits associated with its medical centres. PHP has paid an increasing dividend per share for each of the last ten years.The total dividend per share for the year ended 30 June 2007 is 15p, of whichthe second 7.5p payment is to be paid to shareholders on 23 November 2007. Finally, the Board is pleased to announce that Daniel Stewart has been appointedas joint broker to the Company with immediate effect, to work alongside NumisSecurities. We look forward to the future with confidence." - Ends - Enquiries: Bell Pottinger Corporate & FinancialDavid Rydell/ Victoria Geoghegan Tel: 020 7861 3232 Primary Health Properties PLCHarry Hyman, Managing Director Tel: 01483 306912 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Primary Health