To deliver inflation-protected income and capital growth over the medium term for Shareholders through funding the acquisition and creation of high-quality homeless accommodation across the UK let on long-term index-linked leases.
The Investment Adviser is entitled to an annual fee based on NAV payable monthly in arrear calculated at the rate of i 0.85% for first GBP500 m ii 0.75 % for NAV from GBP500 m to GBP750 m and iii 0.65% fro NAV above GBP750 m. No performance fee is payable to the Investment Adviser.
When the Net Issue Proceeds have been fully invested, the minimum targeted annual dividend yield will be 5.5% by reference to the Issue Price, starting from the financial period commencing 2021/9/1. In addition, the targeted net total Shareholder return will be a minimum of 7.5% p.a.over the medium term. In the first financial period to 2021/8/31, whilst the Net Issue Proceeds are being deployed, the target is to pay a minimum total dividend of 2.5 p per Ord. Starting from the financial period commencing 2021/9/1, the Company intends to pay dividends on a quarterly basis in cash, by way of four equal interim dividends. The fiirst interim dividend is expected to be declared and paid in the first quarter of 2021.