Dividend Declaration and Net Asset Valuation

GCP Student Living Plc - Dividend Declaration and Net Asset Valuation

PR Newswire

London, October 25

GCP Student Living plc

(“GCP Student” or the “Company”, together with its subsidiaries the “Group”)

LEI: 2138004J4ID66FK38H25

Dividend Declaration and Net Asset Valuation

The Board of GCP Student Living, the UK's first REIT focused on student residential assets, is pleased to announce a first interim dividend of 1.48 pence per ordinary share, in respect of the quarter ended 30 September 2017. The first interim dividend will be paid on 5 December 2017 to ordinary shareholders on the register at 3 November 2017. The dividend will be paid as 1.07 pence per ordinary share as a REIT property income distribution ("PID") in respect of the Group's tax exempt property rental business and 0.41 pence per ordinary share as an ordinary UK dividend (“non-PID”).

At close of business on 30 September 2017, the unaudited estimated EPRA net asset value per ordinary share of the Company was 142.78 pence. 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 30 September 2017.

The EPRA net asset value (ex-income) was 141.30 pence per ordinary share as at that date.

At 30 September 2017, the valuation of the Company’s portfolio was £672.1 million.

26 October 2017 

For further information please contact:

Gravis Capital Management Limited +44 020 3405 8500

Tom Ward [email protected]

Nick Barker [email protected]

Dion Di Miceli [email protected] 

Stifel Nicolaus Europe Limited +44 020 7710 7600

Neil Winward [email protected]

Mark Young [email protected]

Tom Yeadon [email protected]

Buchanan +44 020 7466 5000

Charles Ryland [email protected]

Vicky Watkins [email protected] 

About GCP Student Living

The Company was the first student accommodation REIT in the UK, investing in modern, purpose-built, private student residential accommodation and teaching facilities. Its investments are 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.

GCP Student’s property portfolio comprises nine assets with c.3,450 beds which are either currently fully operational or expected to complete construction / refurbishment over the next two academic years. At 30 September 2017, its property portfolio was valued at £672.1 million.

The Company’s standing properties are mainly occupied by international students and offer high specification facilities and hotel-level concierge type services which the Investment Manager believes are attractive to overseas students.