“The first half has been a landmark period for Sigma, with the launch of The PRS REIT plc – the first quoted real estate investment trust to address opportunities in the PRS sector – and its associated fund-raising of £250m, marking the most significant milestone to date in the roll-out of our PRS model. We were delighted that the REIT was so well received by a large number of leading UK institutional fund managers and that the UK Government’s Homes and Communities Agency (“HCA”) has taken a 10% shareholding.
“The REIT will be utilising Sigma’s PRS platform and, under the terms of our contract, Sigma will receive fees for delivering new rental homes to the REIT and additional fees for managing the REIT’s assets. Sigma will also generate development profits on assets it builds and sells into the REIT.
“These new revenues will complement our existing PRS activities and also significantly improve visibility of our revenue streams, and enhance the quality of our earnings. The process of investing the first tranche of the REIT’s capital is now well underway and it is anticipated that all the REIT’s IPO funding will be fully committed by the end of H1 2018. “The potential to scale our activities further is substantial. The structural undersupply of rental homes in the UK, especially family homes, together with growing demand, underpin the long term positive prospects of the sector. “Looking ahead over the remainder of the year and beyond, Sigma is on track to deliver the Board’s expectations, and we view 2018 as a pivotal year for Sigma’s profitability.”
Beware of Share Fraud
Fraudsters use persuasive and high-pressure tactics to lure investors into scams. They may offer to sell shares that turn out to be worthless or non-existent, or to buy shares at an inflated price in return for an upfront payment. While high profits are promised, if you buy or sell shares in this way you will probably lose your money.
5,000 people contact the Financial Conduct Authority about share fraud each year, with victims losing an average of £20,000.
How to avoid share fraud
Report a scam
If you are approached by fraudsters please tell the FCA using the share fraud reporting form at www.fca.org.uk/scams, where you can find out more about investment scams.
You can also call the FCA Consumer Helpline on 0800 111 6768.
If you have already paid money to share fraudsters you should contact Action Fraud on 0300 123 2040.
In association with The Financial Conduct Authority