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Share buy-back programme
RDI REIT P.L.C.
(formerly Redefine International P.L.C.)
(Incorporated in the Isle of Man)
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
LEI: 2138006NHZUMMRYQ1745
ISIN: IM00B8BV8G91
("RDI" or the "Company" or the "Group")
SHARE BUY-BACK PROGRAMME
RDI is today pleased to announce a share buyback programme of up to approximately £7.0 million RDI
ordinary shares (the "Programme"). The purpose of the Programme is to reduce the share capital of the
Company and thus to mitigate the dilutive effect of the anticipated issue of shares pursuant to the scrip dividend
alternative announced with the Company's interim results on 25 April 2018. The Board believes this to be in
the best interests of shareholders, given the current share price relative to net asset value. The Programme is
currently expected to commence following this announcement and to end on or around 25 June 2018, being
the date when the scrip shares are expected to be issued. All shares will be cancelled upon acquisition.
The Company has instructed Peel Hunt LLP to execute share buybacks on its behalf through the market at
prices below the EPRA net asset value per share as at 28 February 2018, up to the value of approximately
£7.0 million in aggregate. The maximum daily number of shares that will be purchased is 25% of the average
daily trading volume of the preceding 20 trading days. The timing and the actual number of ordinary shares
purchased will be dependent on market conditions, legal and regulatory requirements and the other terms and
limitations contained in the arrangements.
The Programme will be conducted in compliance with the general authority vested in the Company at its AGM
on 25 January 2018 to repurchase shares, the Market Abuse Regulation (EU) No. 596/2014, Commission
Delegated Regulation (EU) No. 2016/1052 and Chapter 12 of the Financial Conduct Authority's Listing Rules.
Details of all purchases made pursuant to the Programme will be announced via RNS and published on the
Company's website as required by the Market Abuse Regulation.
For further information, please contact:
RDI REIT P.L.C.
Mike Watters, Donald Grant Tel: +44 (0) 20 7811 0100
FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Ellie Sweeney Tel: +44 (0) 20 3727 1000
Instinctif Partners
SA Public Relations Adviser
Frederic Cornet Tel: +27 (0) 11 447 3030
JSE Sponsor
Java Capital Tel: + 27 (0) 11 722 3050
9 May 2018
About RDI
RDI is a FTSE 250 UK Real Estate Investment Trust (UK-REIT) committed to becoming the UK's leading
income focused REIT. The Company's income-led business model and strategic priorities are designed to offer
shareholders superior, sustainable and growing income returns, with a target growth in underlying earnings
per share of 3%-5% across the medium term.
Income sustainability is underpinned by a diversified portfolio and tenant base, with no overreliance on any
one sector or tenant, together with an efficient capital structure. The secure and growing income stream is
25.9% indexed and has a WAULT of 6.8 years to first break (8.2 years to expiry). This is complemented by
an average debt maturity of 7.0 years of which over 90% of interest costs are either fixed or capped. The
Company is focused on all aspects impacting shareholder distributions and reports one of the lowest cost ratios
in the industry whilst maintaining a low cost of debt.
The Company owns properties independently valued at £1.6bn in the United Kingdom and Germany, Europe's
two largest, liquid and transparent property markets. RDI invests in assets with strong property fundamentals
spread across UK offices (including London serviced offices), UK logistics, UK shopping centres, UK retail
parks, UK hotels and German retail. RDI is well placed to take advantage of the increasing occupier
requirement for real estate owners to become high quality service providers, given its scalable operational
platforms and nearly a third of the portfolio invested in hotels and London serviced offices.
RDI holds a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock
Exchange and is included within the FTSE 250, EPRA, GPR, JSE All Property and JSE Tradeable Property
indices.
For more information on RDI, please refer to the Company's website www.rdireit.com
All figures as at 28 February 2018
Date: 09/05/2018 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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