Merlin Secure Yielding Care Home Fund

We are pleased to advise the Interim Financial Statements of the Merlin Secure Yielding Care Home Fund (the “Fund”) for the period ended 31 December 2018 have been published on The International Stock Exchange.

The Fund currently invests in 3 care homes.  The Fund has earned rental income from these care homes and this income is reflected in the profit and loss account. The Net Asset Value as at 31 December 2018 was £1,780.33 per share (30 June 2018: £1,727.45) and the total equity as at 31 December 2018 was £7,293,382 (30 June 2018: £7,076,721).

The Directors of the Fund have negotiated the successful sale of the three Spanish care homes to E.A.G.A SL, a Spanish Group specialising in the operation and development of residential care homes and which is part of the same group as the current operator/ tenant. The Sale and Purchase Agreement was signed on 8 February 2019 and governs the transfer of the holding of the Fund to the buyers.

Pursuant to the Sale and Purchase Agreement, the Fund will receive an inflow of a non - returnable £500,000 to be received in two instalments of £100,000 each and a third instalment of £300,000. The first two instalments of £100,000 each were received in February 2019 and the third instalment is due to be received by the end of June 2019. 

The Interim Financial statements for the period ended 31 December 2018 can be found on the International Stock Exchange page for Merlin.

To read the full interim report and be directed to The International Stock Exchange page for Merlin, please click here