Sale of LIFT Investments
25 Nov 2013

Assura Group Limited (“Assura”), the UK REIT(1) and leading primary care property investor and developer, announces that it has exchanged contracts to sell the equity and loan note investments it holds in seven LIFT(2) companies for a combined consideration of £22.4 million. This represents a premium over current book value of £11.2 million (before costs), which equates to over two pence per share on a net assets basis.

The contracts are conditional on relevant third party consents from LIFT project counterparties and on equity fundraising by one of the potential acquirers. It is anticipated that completion will be before the financial year-end.

Further detail and background on the transaction will be provided in the investor presentation on the Interim half year results at 9 am on 26 November 2013 to be held at RLM Finsbury, Tenter House, 45 Moorfields, London.

Graham Roberts, CEO commented:

“Following this sale announced today, we have now realised more than £30 m from our non-core assets and LIFT investments in the last 18 months, as we to continue to increase our focus on developing, owning and managing primary care properties.