London Stock Exchange welcomes McCarthy and Stone

McCarthy & Stone (the “Company”) is the UK’s leading retirement housebuilder with an approximate 70 per cent share of the owner-occupied retirement housing market (1). The Company pioneered the concept of owner-occupied retirement housing in 1977, and has since sold approximately 50,000 units across more than 1,000 developments in the UK.

The Company buys land, secures detailed planning consent and then designs, builds, sells and manages a range of specialist, high-quality retirement developments. McCarthy & Stone is the only housebuilder with a 5 star HBF customer satisfaction rating for 10 consecutive years.

On the 6th of November 2015 it was announced that the Company raised £90 million in gross proceeds to provide flexibility for further investment in land and build, in an initial public offering priced at 180 pence per share, giving the Company a market capitalisation of £967 million at the commencement of conditional dealings.

McCarthy & Stone was admitted to the premium listed segment of the Official List and to trading on the Main Market on 11 November 2015, under the ticker symbol “MCS”.

Clive Fenton, CEO of McCarthy & Stone, said: “McCarthy & Stone is the UK’s leading retirement housebuilder, providing older homeowners with greater choice and quality in later life. We are achieving strong growth and have a clearly defined strategy to invest £2.5 billion in land and build over the next four years in order to capitalise on the exciting opportunities that lie ahead. Our plans are underpinned by favourable demographics; over 65 year olds are the fastest growing group in the UK, and there remains a structural undersupply of specialist retirement housing. This is a very exciting moment in McCarthy & Stone’s history and we look forward to life as a publicly listed Company providing new shareholders with an opportunity to invest in our future.” Deutsche Bank AG, London Branch, is acting as Sponsor, Joint Global Co-ordinator and Joint Bookrunner, Goldman Sachs International is acting as Joint Global Co-ordinator and Joint Bookrunner, Jefferies International Limited is acting as Joint Bookrunner and Peel Hunt LLP is acting as Co-lead Manager. Rothschild is acting as Financial Adviser to the Company. Allen & Overy LLP is acting as legal advisor to the Company, and Freshfields Bruckhaus Deringer LLP is acting as advisor to the Joint Global Co-ordinators and Joint Bookrunners. Brunswick is acting as Financial PR adviser to the Company.

(1) Based on 1,919 registrations of properties specifically designed for the elderly with the NHBC during calendar year 2014, of which 1,355 were registered by McCarthy & Stone