19th Oct 2007 11:15
Unite Group PLC19 October 2007 Date: 19th October 2007 The UNITE Group plc REDEMPTION OF UNITE FINANCE ONE PLC BONDS The UNITE Group plc, the UK's leading provider of student accommodation,confirms that it has completed the early redemption of the UNITE Finance One plc("UFO") bonds, which was referred to in UNITE's Interim Results announcement on17 September 2007. As a result, all of the outstanding UFO bonds have beenredeemed by UFO and ceased trading on 18 October 2007. The completion of the redemption enables UNITE to fully adopt its stated assetmanagement strategies to: • dispose of non-core assets that do not fit within its strategic business plan, to independent third parties; • offer additional stabilised assets to the UNITE Student Accommodation Fund; • actively manage retained properties, including implementing a refurbishment programme at certain properties in order to maximise their value. The total redemption amount and associated transaction costs remain in line withthe estimates previously set out as part of UNITE's Interim Resultsannouncement. ENDS For further details, please contact: Tony Harris Telephone: 0117 302 7053 Email: [email protected] Tabitha Aldrich-Smith Telephone: 0117 302 7018UNITE Group plc Email: [email protected] Stephanie Highett/Dido Laurimore/Lauren Mills Telephone: 020 7831 3113Financial Dynamics Email: [email protected] / [email protected] / [email protected] Notes to Editors: UNITE is the UK's leading student hospitality company. Listed in the FTSE 250index of the London Stock Exchange and managing a property portfolio of £1.6billion located across the UK, the Group focuses on the provision and managementof high quality, well-located student accommodation and hospitality services instrong higher education markets. UNITE delivers the real student experience, whilst at the same time helping toregenerate cities as part of the community and contributing to the improvementof the country's housing. It undertakes the planning, development andmanagement of sites, often working closely with the universities and colleges,to deliver accommodation for students across all ages and nationalities. UNITEdevelopments typically show high occupancy levels and robust rental growth asdemand continues to rise for places in UK Higher Education and for safe, highquality accommodation for students. Further information on UNITE is available at www.unite-group.co.uk See UNITE's new student website at www.unite-students.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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