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Annual Report and Notice of AGM

Released 07:00 15-Dec-2017

RNS Number : 4349Z
15 December 2017



("RDI" or the "Company")

(Registered number 010534V)

LSE share code: RDI

JSE share code: RPL




RDI, the income-focused FTSE 250 UK-REIT, is pleased to announce that the following documents have been sent to shareholders today: -


-       the Annual Report incorporating the audited annual financial results for the year ended 31 August 2017 (the "Annual Report")

-       the notice of the Annual General Meeting to be held on 25 January 2018 ("AGM"); and

-       the form of proxy in respect of the AGM


 (together, the "Documents").


Please note that the Annual Report contains no material changes to the results for the year ended 31 August 2017, released on SENS and RNS on 26 October 2017.


The AGM will be held at the Company's UK Head Office at 33 Regent Street, London SW1Y 4NE on Thursday 25 January 2018 at 11.00am (UK time). The record date to attend and vote at the AGM will be close of business on Friday, 19 January 2018 for shareholders on the South African register, and close of business on Tuesday, 23 January 2018 for shareholders on the UK register.


The Company advises that, as Redefine Properties Limited ("RDF") is no longer considered to be a controlling shareholder of the Company due to its shareholding in RDI now being below 30%, the relationship agreement between RDF and RDI has ceased to operate and the dual election of Independent Non-executive Directors at the AGM will therefore no longer be required under LR 9.2.2E.


The Company also wishes to draw shareholders' attention to Greg Clarke's statement in the Annual Report that he intends to step down as Chairman of the Company during the course of 2018.  The exact timing will be determined by the process to recruit a new Chairman and execute an appropriate handover.  Michael Farrow, the Company's Senior Independent Director, will be appointed the Chair of the Nominations Committee, with immediate effect, and will oversee the appointment of a new Chairman. An announcement in this regard will be released as soon as a successor to Greg Clarke has been appointed,


Copies of the Documents will be submitted to the National Storage Mechanism in the UK and will shortly be available for inspection at: and can also be viewed on the Company's website,


15 December 2017

For further information:


Mike Watters, Stephen Oakenfull


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, Lizelle du Toit



Tel: +27 (0) 11 447 3030

Java Capital

JSE Sponsor


Tel: +27 (0) 11 722 3050  

Note to editors:

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 39% indexed and has a WAULT of 7.4 years to first break (8.5 years to expiry).  This is complemented by an average debt maturity of 7.3 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.  All figures as at 31 August 2017.

The Company owns properties independently valued at £1.5bn in the United Kingdom and Germany, Europe's two largest and most transparent property markets. RDI invests in assets with strong property fundamentals spread across UK shopping centres, UK retail parks, UK offices, UK logistics, UK hotels and German retail.

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 and GPR indices. 

For more information on RDI, please refer to the Company's website





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Annual Report and Notice of AGM - RNS