Assura Bebington

Assura investors back REIT move

Shareholders in healthcare landlord Assura Group voted on Friday to convert to a real estate investment trust in April 2013.

The number of votes cast represented 85.8% of the total number of votes capable of being cast at the extraordinary general meeting. One hundred per cent of votes cast were in favour of REIT conversion.

A second resolution at the EGM was also passed; to adopt a new "value creation plan". However, 19.6% of votes casts were against the resolution.

Assura is based in Warrington and has a portfolio of primary care centres and GP surgeries valued at £556m on 30 September 2012.

REIT status allows for tax efficiencies as income from property is moved from corporate to investor level.

Shares in Assura were flat at 34p.

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