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000-779 - IBM Tivoli Workload Scheduler V8.2 Implementation - Dump Information

Vendor : IBM
Exam Code : 000-779
Exam Name : IBM Tivoli Workload Scheduler V8.2 Implementation
Questions and Answers : 130 Q & A
Updated On : April 19, 2018
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000-779 Questions and Answers

000-779 IBM Tivoli Workload Scheduler V8.2 Implementation

Study Guide Prepared by Killexams.com IBM Brain Dumps Experts


Killexams.com 000-779 Brain Dumps with Real Questions

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000-779 Certification Brain Dumps Source : IBM Tivoli Workload Scheduler V8.2 Implementation

Test Code : 000-779
Test Name : IBM Tivoli Workload Scheduler V8.2 Implementation
Vendor Name : IBM
Q&A : 130 Brain Dump Questions

IBM Tivoli Workload Scheduler

Pass4sure 000-779 dumps | Killexams 000-779 real questions | [HOSTED-SITE]

Terma software Set to liberate support for IBM Workload Scheduler (IWS) | killexams.com real questions with brain dumps

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HCL and IBM enter 15-yr partnership | killexams.com real questions with brain dumps

 NEW DELHI: HCL and IBM mentioned that the corporations have entered a 15-year partnership for automation and construction and operations.

"This partnership will enable us to focus our technical groups on native cloud and cognitive options, in addition to business-particular alternatives," the companies mentioned in a blog submit.

HCL will construct elements and services on top of latest IBM structures and items similar to Tivoli Workload Scheduler, Rational testing, and Rational Modeling & building and utility for on-premises, hybrid and public cloud and application as a service (SaaS) structures.

"building and aid teams from IBM, who're professional in these items and offerings, will benefit from HCL’s effective engineering heritage and way of life of empowerment. together, we will proceed to develop and cloud-permit present application, which is fundamental to the lengthy-term success of our shoppers," the post delivered.

Automation and DevOps application are vital to the success of customers attempting to develop into digital agencies.

"Most recognize these equipment permit them to better react to these days’s dynamic atmosphere of new cloud platform and cognitive solutions," the organizations spoke of.

whereas automation helps companies successfully control their workloads, devOps is now an essential partof the application construction technique as it improves the speed, great and predictability of construction tasks, the submit brought.


IBM Beefs Up Tivoli for the Cloud | killexams.com real questions with brain dumps

  • put up
  • nowadays IBM (s IBM)  announced that six universities are the use of its cloud computing talents to install and manipulate clouds determined in Qatar, Africa and in Japan. it's the usage of Hadoop for allocating substances within the cloud — something it first began doing in 2007 when it teamed up with Google (s GOOG) for its first cloud challenge. due to the fact that point, IBM has combined Hadoop and its Tivoli methods administration software in lots of of its efforts. Now it’s going additional.

    Dennis Quan, director of autonomic computing with IBM, stated that future efforts will probably contain Tivoli’s Workload Scheduler — maybe to manage specific compute jobs working in a cloud. Quan didn’t get into too many specifics, and an IBM spokeswoman noted that the business plans to make an announcement in February about Tivoli and cloud computing. the sort of stream would lengthen IBM’s efforts past without problems making it convenient to create a cloud to enabling IT managers to manage jobs operating in them.

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    If IBM thinks IT managers that buy its software are looking for assist controlling their work flow within the cloud, possibly businesses are willing to embrace the thought of the use of clouds internal the corporate firewalls or for mission-critical jobs. agencies could be able to use the cloud as greater than widespread compute cycles of ultimate lodge after they all at once require excess processing power.


    000-779 IBM Tivoli Workload Scheduler V8.2 Implementation

    Study Guide Prepared by Killexams.com IBM Brain Dumps Experts


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    000-779 Certification Brain Dumps Source : IBM Tivoli Workload Scheduler V8.2 Implementation

    Test Code : 000-779
    Test Name : IBM Tivoli Workload Scheduler V8.2 Implementation
    Vendor Name : IBM
    Q&A : 130 Brain Dump Questions

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    000-779

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    NBA: Which Positions Are missing probably the most ability? | killexams.com real questions with brain dumps

    0 of 6

    The NBA is a league that has been dominated via massive men for a long time. The taller and bigger you have been, the enhanced your odds would be succeeding on the NBA stage.

    With a large number of rule changes in the ultimate decade or two, issues have changed, and the need for a bruiser down low has promptly been changed via the need of an athletic and short massive man.

    Early on this decade it become the shooting take care of who took the highlight. The actual pioneer of this era was Micheal Jordan, however almost immediately after came flashy large identify stars like Iverson, Carter, Allen, Pierce, Bryant and McGrady, amongst others, had taken over the league with their outstanding scoring advantage.

    The league is ever-changing and continues to adapt continuously. towards the end of this decade we've viewed yet an extra transformation in basketball the place it seems NBA teams have come head to head with the fact they have been trying to run away from: defense wins championships. Now elite scorers like Monta Ellis and Carmelo Anthony are losing popularity amongst NBA groups which are continually prioritizing protection over offense.

    despite the NBA's makes an attempt to trade the rules (eradicate: hand checking, again-to-basket rule, protecting three seconds, and so forth) and enable extra fluid offenses, they have not managed to erase the fantastic strategic advantage given to "protecting" groups that might no longer be very flashy, however proceed to continue to be atop of the standings.

    while a whole lot of the NBA's skill includes interchangeable gamers, or not it's develop into clear some positions dominate in the NBA, while discovering productive ability in others is immediately beginning to fade away. here we will analyze each position within the NBA and examine which positions are thinner in talent in comparison to others. The results may be superb.

    Stats are represented as:

    RK player crew GP MPG PTS FG% 3P% ft%

    1 of 6

    RK player GP MPG PTS FG% 3P% ft% 1 Amar'e Stoudemire, PF 78 36.8 25.three .502 .435 .792 2 Dirk Nowitzki, PF seventy three 34.three 23.0 .517 .393 .892 three Blake Griffin, PF 82 38.0 22.5 .506 .292 .642 4 LaMarcus Aldridge, PF 81 39.6 21.8 .500 .174 .791 fiveKevin Love, PF seventy three 35.8 20.2 .470 .417 .850 6 Zach Randolph, PF seventy five 36.three 20.1 .503 .186 .758 7 Michael Beasley, PF 73 32.three 19.2 .450 .366 .753 eight David West, PF 70 35.0 18.9 .508 .222 .807 9Pau Gasol, PF 82 37.0 18.eight .529 .333 .823 10 Chris Bosh, PF 77 36.three 18.7 .496 .240 .815 RK player GP MPG PTS FG% 3P% toes% eleven Luis Scola, PF seventy four 32.6 18.3 .504 .000 .738 12 Antawn Jamison, PF fifty six 32.nine18.0 .427 .346 .731 13 Carlos Boozer, PF fifty nine 31.917.5 .510 .000 .701 14 Paul Millsap, PF seventy six 34.three 17.3 .531 .391 .757 15 Andray Blatche, PF 64 33.ninesixteen.8 .445 .222 .777 sixteen Josh Smith, PF seventy seven 34.four sixteen.5 .477 .331 .725 17 Danilo Gallinari, F sixty two 33.915.6 .414 .352 .862 18 Elton brand, PF 81 34.7 15.0 .512 .000 .780 19 Kevin Garnett, PF 71 31.3 14.9 .528 .200 .862 20 Lamar Odom, PF 82 32.2 14.four .530 .382 .675 RK player GP MPG PTS FG% 3P% feet% 21 DeMarcus Cousins, PF 81 28.514.1 .430 .167 .687 22 J.J. Hickson, PF eighty 28.2 13.8 .458 .000 .673 23 Jeff eco-friendly, F 75 32.4 13.three .449 .303 .811 24 Thaddeus younger, F 82 26.0 12.7 .541 .273 .707 25 Carl Landry, PF seventy six 26.4 eleven.9 .502 .000 .740 26 Glen Davis, PF seventy eight 29.five11.7 .448 .133 .736 27 Rashard Lewis, PF 57 32.0 eleven.7 .433 .357 .802 28 Drew Gooden, PF 35 24.6 eleven.three .431 .150 .794 29 Boris Diaw, PF 82 33.911.three .492 .345 .683 30 Brandon Bass, PF seventy six 26.1 11.2 .515 .000 .815 RK participant GP MPG PTS FG% 3P% feet% 31 Charlie Villanueva, PF 76 21.9eleven.1 .442 .387 .767 32 Tyler Hansbrough, PF 70 21.9eleven.0 .465 .000 .779 33 Ryan Anderson, PF 64 22.three 10.6 .430 .393 .812 34 Al Harrington, PF 73 22.8 10.5 .416 .357 .735 35 Tyrus Thomas, PF 41 21.0 10.2 .471 .000 .787 36 Kris Humphries, PF 74 27.910.0 .527 .000 .665 37 Serge Ibaka, PF eighty two 27.0 9.9 .543 .000 .750 38 Amir Johnson, PF seventy two 25.7 9.6 .568 .000 .788 39 Ersan Ilyasova, PF 60 25.1 9.5 .436 .298 .894 40 Greg Monroe, PF eighty 27.8 9.4 .551 .000 .622

    The power ahead slot is and has been loaded for a protracted a time. It will also be argued that vigour forwards make up the largest element of talent in the NBA should you accept as true with how many herbal PF's play the middle and SF positions.

    The place holds at the least eleven-12 All-Stars, and is additionally occupied through many "border-liners" and possibilities. With six avid gamers scoring at least 20 facets per online game and just about every single PF within the accurate 40 being key avid gamers on their respective teams, the power ahead is probably the most dominant position, ability-shrewd, in the NBA.

    2 of 6

    RK player GP MPG PTS FG% 3P% ft% 1 Derrick Rose, PG 81 37.four 25.0 .445 .332 .858 2 Russell Westbrook, PG eighty two 34.7 21.9 .442 .330 .842 3 Deron Williams, PG sixty five 37.920.1 .439 .331 .845 4 Stephen Curry, PG seventy four 33.6 18.6 .480 .442 .934 fiveTyreke Evans, PG fifty seven 37.0 17.8 .409 .291 .771 6 Tony Parker, PG 78 32.4 17.5 .519 .357 .769 7 Chauncey Billups, PG 72 32.1 sixteen.eight .427 .402 .916 eight John Wall, PG sixty nine 37.8 sixteen.four .409 .296 .766 9Brandon Jennings, PG sixty three 34.four sixteen.2 .390 .323 .809 10 Chris Paul, PG 80 36.0 15.9 .463 .388 .878 RK participant GP MPG PTS FG% 3P% toes% eleven Raymond Felton, PG 75 36.five15.5 .425 .353 .805 12 Rodney Stuckey, PG 70 31.2 15.5 .439 .289 .866 13 Devin Harris, PG seventy one 31.7 15.2 .422 .322 .833 14 Steve Nash, PG seventy five 33.3 14.7 .492 .395 .912 15 D.J. Augustin, PG 82 33.6 14.four .416 .333 .906 16 Mo Williams, PG fifty eight 30.8 14.0 .399 .324 .853 17 Jrue holiday, PG 82 35.four 14.0 .446 .365 .823 18 Beno Udrih, PG 79 34.6 13.7 .500 .357 .864 19 Lou Williams, PG seventy five 23.3 13.7 .406 .348 .823 20 Mike Conley, PG eighty one 35.513.7 .444 .369 .733 RK participant GP MPG PTS FG% 3P% toes% 21 Kyle Lowry, PG 75 34.2 13.5 .426 .376 .765 22 Ramon sessions, PG 81 26.three 13.3 .466 .200 .823 23 Darren Collison, PG seventy nine 29.nine13.2 .457 .331 .871 24 Jameer Nelson, PG 76 30.513.1 .446 .401 .802 25 Baron Davis, PG fifty eight 28.4 13.1 .417 .339 .771 26 Andre Miller, PG eighty one 32.7 12.7 .460 .108 .853 27 Luke Ridnour, PG seventy one 30.4 11.8 .468 .440 .883 28 Ty Lawson, PG 80 26.three 11.7 .503 .404 .764 29 Daniel Gibson, PG sixty seven 27.8 11.6 .400 .403 .822 30 George Hill, PG 76 28.three eleven.6 .453 .377 .863 RK player GP MPG PTS FG% 3P% toes% 31 Gilbert Arenas, PG 70 25.7 10.eight .366 .297 .784 32 Aaron Brooks, PG fifty nine 21.8 10.7 .375 .297 .886 33 Rajon Rondo, PG 68 37.2 10.6 .475 .233 .568 34 Jose Calderon, PG 68 30.nine9.eight .440 .365 .854 35 Gary Neal, PG eighty 21.1 9.8 .451 .419 .808 36 Jordan Farmar, PG 73 24.6 9.6 .392 .359 .820 37 Jose Juan Barea, PG eighty one 20.6 9.5 .439 .349 .847 38 Jerryd Bayless, PG 71 21.1 9.2 .422 .336 .806 39 Jarrett Jack, PG 83 20.7 8.9 .408 .306 .850 40 Shannon Brown, PG eighty two 19.1 eight.7 .425 .349 .911 X Jason Kidd, PG eighty 33.2 7.9 .361 .340 .870

    right here you can see there is a huge number of gifted factor guards within the league, with three PG's scoring extra 20 PPG and 24 others scoring in double figures.

    There are at the least 10 All-big name degree PG's at present within the league, but the place is loaded with first rate players. nearly all of the appropriate PG's are nevertheless young with a whole lot ahead of them.

    3 of 6

    RK participant GP MPG PTS FG% 3P% ft% 1 Kevin Durant, SF seventy eight 38.927.7 .462 .350 .880 2 LeBron James, SF 79 38.eight 26.7 .510 .330 .759 3 Carmelo Anthony, SF 77 35.7 25.6 .455 .378 .838 4 Danny Granger, SF 79 35.0 20.5 .425 .386 .848 5Rudy gay, SF 54 39.919.8 .471 .396 .805 6 Paul Pierce, SF eighty 34.7 18.9 .497 .374 .860 7 Luol Deng, SF 82 39.1 17.four .460 .345 .753 8 Dorell Wright, SF 82 38.4 sixteen.4 .423 .376 .789 9Gerald Wallace, SF 71 37.915.7 .454 .333 .746 10 Wilson Chandler, SF 72 33.3 15.3 .450 .350 .807 RK participant GP MPG PTS FG% 3P% ft% 11 Caron Butler, SF 29 29.nine15.0 .450 .431 .773 12 Tayshaun Prince, SF seventy eight 32.eight 14.1 .473 .347 .702 13 furnish Hill, SF 80 30.1 13.2 .484 .395 .829 14 C.J. Miles, SF seventy eight 25.2 12.8 .407 .322 .811 15 Shawn Marion, SF eighty 28.2 12.5 .520 .152 .768 16 Nicolas Batum, SF 80 31.512.4 .455 .345 .841 17 Corey Maggette, SF 67 20.912.0 .453 .359 .834 18 Andrei Kirilenko, SF 64 31.2 eleven.7 .467 .367 .770 19 Carlos Delfino, SF 49 32.four 11.5 .390 .370 .800 20 Mike Dunleavy, SF 61 27.6 11.2 .462 .402 .800 RK player GP MPG PTS FG% 3P% toes% 21 Linas Kleiza, SF 39 26.511.2 .438 .298 .631 22 Trevor Ariza, SF seventy five 34.7 11.0 .398 .303 .701 23 Richard Jefferson, SF 81 30.4 eleven.0 .474 .440 .759 24 Hedo Turkoglu, SF 81 31.4 10.eight .446 .410 .679 25 Jared Dudley, SF eighty two 26.1 10.6 .477 .415 .743 26 Marvin Williams, SF sixty five 28.7 10.4 .458 .336 .845 27 Martell Webster, SF forty six 23.8 9.eight .447 .417 .770 28 Chase Budinger, SF seventy eight 22.three 9.8 .425 .325 .855 29 Reggie Williams, SF 80 20.3 9.2 .469 .423 .746 30 Travis Outlaw, SF eighty two 28.8 9.2 .375 .302 .772 RK player GP MPG PTS FG% 3P% toes% 31 Wesley Johnson, SF seventy nine 26.2 9.0 .397 .356 .696 32 Omri Casspi, SF 71 24.0 8.6 .412 .372 .673 33 Ron Artest, SF eighty two 29.4 eight.5 .397 .356 .676 34 Peja Stojakovic, SF 33 18.7 8.5 .441 .419 .920 35 Josh Howard, SF 18 22.7 8.four .358 .241 .617 36 Paul George, SF sixty one 20.7 7.8 .453 .297 .762 37 Shane Battier, SF eighty two 29.0 7.6 .450 .382 .688 38 Austin Daye, SF seventy two 20.1 7.5 .410 .401 .759 39 Al Thornton, SF seventy one 19.57.4 .476 .154 .775

    The small ahead place has been spearheaded by superstars during the last decade, and the vast majority of small forwards these days are meant to be protective anchors who're still expected to make contributions on offense.

    With about eight All-Stars and pretty much 10 borderline All-Stars, the SF spot is among the most underrated positions in the game. due to the enormous number of tweeners and declining veterans, the SF position has develop into weaker than the PG and PF positions nowadays, however is filled with extra complementary avid gamers than another position.

    4 of 6

    RK participant GP MPG PTS FG% 3P% feet% 1 Dwyane Wade, SG seventy six 37.1 25.5 .500 .306 .758 2 Kobe Bryant, SG 82 33.nine25.three .451 .323 .828 3 Monta Ellis, SG 80 forty.three 24.1 .451 .361 .789 4 Kevin Martin, SG 80 32.523.5 .436 .383 .888 fiveEric Gordon, SG fifty six 37.7 22.three .450 .364 .825 6 Stephen Jackson, SG sixty seven 35.918.5 .411 .337 .816 7 Joe Johnson, SG seventy two 35.518.2 .443 .297 .802 eight Nick young, SG 64 31.8 17.4 .441 .387 .816 9Manu Ginobili, SG eighty 30.three 17.four .433 .349 .871 10 DeMar DeRozan, SG eighty two 34.8 17.2 .467 .096 .813 RK player GP MPG PTS FG% 3P% ft% eleven Ray Allen, SG 80 36.1 sixteen.5 .491 .444 .881 12 Wesley Matthews, G 82 33.6 15.9 .449 .407 .844 13 Jason Terry, SG eighty two 31.three 15.eight .451 .362 .850 14 Jason Richardson, SG 80 33.nine15.6 .447 .395 .730 15 Jamal Crawford, G seventy six 30.2 14.2 .421 .341 .854 sixteen Richard Hamilton, SG fifty five 27.2 14.1 .429 .382 .849 17 Andre Iguodala, SG sixty seven 36.914.1 .445 .337 .693 18 John Salmons, SG 73 35.0 14.0 .415 .379 .813 19 Vince Carter, SG 73 28.1 14.0 .437 .361 .740 20 Leandro Barbosa, SG fifty eight 24.1 13.three .450 .338 .796 RK player GP MPG PTS FG% 3P% feet% 21 Anthony Morrow, SG fifty eight 32.0 13.2 .450 .423 .897 22 Marcus Thornton, G seventy three 24.3 12.8 .434 .367 .788 23 Arron Afflalo, SG sixty nine 33.7 12.6 .498 .423 .847 24 J.R. Smith, SG seventy nine 24.nine12.3 .435 .390 .738 25 Brandon Roy, SG 47 27.nine12.2 .four hundred .333 .848 26 James Harden, G eighty two 26.7 12.2 .436 .349 .843 27 Jordan Crawford, SG 42 24.five11.7 .384 .258 .869 28 O.J. Mayo, SG 71 26.3 11.3 .407 .364 .756 29 Ben Gordon, SG eighty two 26.0 eleven.2 .440 .402 .850 30 Toney Douglas, G 81 24.3 10.6 .416 .373 .794 RK player GP MPG PTS FG% 3P% feet% 31 Jodie Meeks, G 74 27.nine10.5 .425 .397 .894 32 Marco Belinelli, SG 80 24.five10.5 .437 .414 .784 33 Kirk Hinrich, G 72 30.0 10.2 .446 .399 .841 34 J.J. Redick, SG 59 25.6 10.1 .441 .397 .875 35 Sasha Vujacic, SG 67 24.6 9.8 .402 .370 .844 36 Randy Foye, G 63 24.6 9.eight .388 .327 .893 37 Landry Fields, G eighty two 31.0 9.7 .497 .393 .769 38 Francisco Garcia, SG 58 23.nine9.7 .436 .362 .855 39 Gerald Henderson, G 68 24.4 9.6 .454 .194 .785 40 Sonny Weems, SG 59 23.nine9.2 .444 .279 .766

    This one's a shocker.

    Has the period of dominant capturing guards within the NBA passed?

    The SG place has some exceptional gamers at the suitable, however the stage of talent on the listing directly drops to ordinary position-gamers presently after. What's even more staggering is that a lot of the serviceable shooting guards are the household names we now have been used to over the decade, and they're getting old and older.

    There are five avid gamers who rating above the 20-element mark, but less than half of the excellent 10 in scoring are on winning teams. With simplest about 5-6 All-Stars on the list and about half a dozen good however now not decent enough players, the SG position is arguably the second weakest place in the league.

    5 of 6

    RK participant GP MPG PTS FG% 3P% feet% 1 Dwight Howard, C seventy eight 37.6 22.9 .593 .000 .596 2 Andrea Bargnani, C 66 35.7 21.four .448 .345 .820 three Brook Lopez, C 82 35.2 20.four .492 .000 .787 four Al Jefferson, C 82 35.918.6 .496 .000 .761 fiveDavid Lee, C seventy three 36.1 sixteen.5 .507 .333 .787 6 Al Horford, C 77 35.1 15.three .557 .500 .798 7 Nene Hilario, C 75 30.five14.5 .615 .200 .711 8 Tim Duncan, C 76 28.4 13.four .500 .000 .716 nineAndrew Bogut, C 65 35.three 12.8 .495 .000 .442 10 Channing Frye, C 77 33.0 12.7 .432 .390 .832 RK player GP MPG PTS FG% 3P% toes% 11 Roy Hibbert, C 81 27.7 12.7 .461 .000 .745 12 Chris Kaman, C 32 26.2 12.4 .471 .000 .754 13 Marc Gasol, C eighty one 31.nineeleven.7 .527 .429 .748 14 Joakim Noah, C 48 32.eight 11.7 .525 .000 .739 15 Andrew Bynum, C fifty four 27.eight eleven.3 .574 .000 .660 sixteen Emeka Okafor, C 72 31.eight 10.3 .573 .000 .562 17 Marcin Gortat, C 80 25.four 10.2 .561 .250 .725 18 Yao Ming, C 518.2 10.2 .486 .000 .938 19 Tyson Chandler, C seventy four 27.eight 10.1 .654 .000 .732 20 JaVale McGee, C seventy nine 27.8 10.1 .550 .000 .583 RK participant GP MPG PTS FG% 3P% feet% 21 Shaquille O'Neal, C 37 20.three 9.2 .667 .000 .557 22 Jason Thompson, C seventy five 23.three eight.8 .507 .000 .605 23 Darko Milicic, C sixty nine 24.four eight.8 .469 .000 .557 24 Nenad Krstic, C seventy one 22.1 eight.1 .511 .000 .774 25 Samuel Dalembert, C 80 24.2 eight.1 .473 .000 .730 26 Kwame Brown, C sixty six 26.0 7.9 .517 .000 .589 27 Chuck Hayes, C seventy four 28.1 7.9 .527 .000 .662 28 Spencer Hawes, C eighty one 21.2 7.2 .465 .243 .534 29 Nazr Mohammed, C 75 17.1 7.1 .522 .000 .598 30 DeAndre Jordan, C eighty 25.6 7.1 .686 .000 .452 RK player GP MPG PTS FG% 3P% ft% 31 Anthony Tolliver, C sixty five 21.0 6.7 .450 .409 .802 32 Robin Lopez, C sixty seven 14.eight 6.4 .501 .000 .740 33 Brad Miller, C 60 sixteen.96.four .446 .374 .830 34 Kendrick Perkins, C 29 25.6 6.0 .515 .000 .556 35 Chris Andersen, C forty five sixteen.3 5.6 .599 .000 .637 36 Nikola Pekovic, C sixty five 13.6 5.5 .517 .000 .763 37 Marreese Speights, C sixty four eleven.five5.4 .495 .250 .753 38 Jermaine O'Neal, C 24 18.0 5.4 .459 .000 .674 39 Ryan Hollins, C 70 sixteen.95.3 .598 .000 .681 40 Trevor Booker, C 65 16.4 5.three .549 .000 .673

    The center position has been the weakest position in the NBA from the brand new millennium onwards. With only two dominant NBA facilities within the remaining 10 years (Shaq, Howard, maybe Yao and big Ben), the center place is the weakest in the back of the different positions with the aid of a large margin.

    a huge variety of the gifted facilities are in fact energy forwards (Jefferson, Bargnani, Duncan, Lee), and notwithstanding no winner can get any place devoid of one, discovering a fine NBA core statistically is very tough.

    avid gamers who barely usual 10 aspects and eight boards are paid more than All-Stars. avid gamers like Marc Gasol (eleven.7 facets, seven boards a game) and Tyson Chandler (eight elements, 9.2 boards a game) are due close-max contracts this offseason. greater than half of these players would be All-Stars statistically if the NBA rules were greater lenient on large men, however nowadays each different center has a controversy with foul drawback and playing time.

    As I seem on the names and notice that there are simplest 19-20 players who will also be considered "legit" starting facilities in the NBA, I come to the conclusion that simply being massive and tall no longer guarantees any production in this league, besides the fact that it'll doubtless guarantee a big contract.

    6 of 6

    In conclusion i would like to say a or not it's incredible how in a different way gamers are statistically in comparison to my assumption that "it's a point guards league". before searching on the numbers and trying to choose avid gamers with the aid of their place i thought gifted taking pictures Guards had been much extra regular than they really are. I may well be incorrect besides the fact that children, as there are many things that are critical features to gamers which do not display up on stat sheets. Being a center and not grabbing 10 boards and blocking 2 shots doesn't suggest your presence doesn't impact the opposing offense. With that being said i would want to be aware a few more things:

    1) The rating right here listed avid gamers by way of their scoring averages, however I didn't consider players good or bad in keeping with their PPG statistic, rather I regarded in any respect stats earlier than writing (simply could not healthy everything on here).

    2) because of the vastness of what we're measuring here, I didn't get into particulars. When i would say "this position has about 10 all-stars" I went by using my very own opinion which I base on the gamers cost to their team, their statistics, and numbers.

    three) The assistance listings right here become from ESPN, kudos to them for featuring NBA data so easily.

    3) every thing which I actually have written is of my own opinion and that i'm far from an authority at the rest. it really is why i would like to understand yours! remark and inform me what you believe: Is the league truly some extent safeguard league? Are the majority of vigour forwards 'second bananas' regardless of the place more avid gamers with decent stats?


    5FM Podcast | killexams.com real questions with brain dumps

    They aren't a big station JStrike... contrary to ordinary perception 5FM is fairly small... it's besides the fact that children a good automobile to communicate with filthy rich early life, which explains the advertising spend on the station. but when it comes to listenership they don't seem to be massive in any respect...

    just to put things in perspective.

    previous 7 Days | Ave Day | Ave Day | Ave Day | Ave DayMon-sun | Mon-Fri | Mon-sun | Saturday | Sunday1 398 000 | 779 000 | 731 000 | 667 000 | 552 000

    bear in mind the above listenership figures are country wide.

    A regional station like Highveld kicks their butts hands down in JHB alone! this is sad concidering that 5FM is based mostly in JHB...

    Getting the different suggests on podcasts is unlikely to ensue as a result of licensing issues. inserting tune in a podcast is tricky because of rights... in spite of the fact that you're a radio station.

    Streaming media is extra complicated than downloadable files to replica or extract to other codecs... at least a bit extra tedious. They did a very good job with compressing 1h19m of audio into a 18mb down load although. only difficulty is that it's in mono best...


    Aew UK Reit : Half-year file | killexams.com real questions with brain dumps

    AEW UK REIT PLC

    period in-between document and financial Statements

    for the six months ended 31 October 2017

    financial Highlights

    Unaudited web Asset cost ('NAV') of £148.22 million and of 97.80 pence per share as at 31 October 2017 (30 April 2017: £118.67 million and 95.98 pence per share).

    operating income earlier than reasonable cost changes is £four.96 million for the duration (six months to 31 October 2016: £four.ninety nine million).

    Unadjusted profit earlier than tax ('PBT') of £6.99 million and of 5.60 pence per share for the period (six months to 31 October 2016: £0.49 million and of 0.forty two pence per share).

    EPRA profits Per Share ('EPRA EPS') for the duration were 3.seventy three pence (six months to 31 October 2016: 3.eighty one pence).

    complete dividends of four.00 pence per share were declared for the length (six months to 31 October 2016: four.00 pence per share).

    complete shareholder return for the period turned into 5.17% (six months to 31 October 2016: 2.seventy three%).

    AEW UK REIT Plc (the 'company') raised complete gross proceeds of £28.05 million all the way through the duration (six months to 31 October 2016: £6.00 million).

    The price of the business's normal Shares on the leading Market of the London inventory alternate turned into one zero one.50 pence per share as at 31 October 2017 (30 April 2017: 99.56 pence per share).

    As at 31 October 2017, the enterprise had a £40.0 million (30 April 2017: £forty.0 million) term credit facility with The Royal financial institution of Scotland foreign restrained ('RBSi') and changed into geared to 22.0% of the Gross Asset price (30 April 2017: 19.31%).

    The enterprise held cash balances totalling £34.fifty four million as at 31 October 2017 (30 April 2017: £three.sixty five million), of which £32.44 million (30 April 2017: £1.31 million) became held for the intention of capital acquisitions.

    Property Highlights

    The company obtained four houses in the length for a total of £16.ninety nine million (aside from acquisition prices) (six months to 31 October 2016: two for a total of £13.20 million) and disposed of one property for gross sales proceeds of £11.05 million (six months to 31 October 2016: £nil).

    As at 31 October 2017, the business's property portfolio had a fair cost of £147.seventy nine million (30 April 2017: £137.eighty two million) as in comparison to the mixed buy expense of the portfolio of £142.ninety three million (30 April 2017: £133.09 million) (apart from purchase prices), representing a rise of £four.86 million (30 April 2017: £4.73 million), or 3.forty% (30 April 2017: three.55%).

    the vast majority of assets that have been bought are totally let and the portfolio had a emptiness fee of eight.fifty nine% as at 31 October 2017 (30 April 2017: 7.22%).

    rental revenue generated within the duration below evaluate become £6.50 million (six months to 31 October 2016: £5.eighty five million). The number of tenants as at 31 October 2017 changed into eighty two (30 April 2017: seventy nine).

    normal portfolio internet initial yield of 7.forty one% (30 April 2017: 7.sixty three%).

    Weighted commonplace unexpired hire term of 4.fifty seven years (30 April 2017: 5.2 years) to spoil and 5.seventy nine years (30 April 2017: 6.4 years) to expiry.

    Chairman's remark

    Overview

    i'm blissful to latest the unaudited interim results of the business for the period from 1 may additionally 2017 to 31 October 2017.

    The business all started the length in may additionally 2017 by way of finishing the sale of the final instruments held within the AEW UK Core Property Fund ('Core Fund'), elevating £7.7 million. These proceeds were used to acquire residences in Runcorn and Deeside for a complete of £5.2 million. In July 2017, the company bought Wyndeham, Peterborough for £5.7 million, partially funded via a £3.5 million drawdown from the company's personal loan facility with The Royal financial institution of Scotland international constrained ('RBSi') and partially using remaining money following the Core Fund disposal.

    Following these transactions, the company had fully utilised each cash of £121.three million raised in share placings because its inception in may additionally 2015, and its personal loan facility with RBSi of £32.5m. With this being the primary quarter with a fully invested portfolio the company yielded EPRA EPS of two.10 pence from 1 may additionally 2017 to 31 July 2017, in accordance with the business target of a 2 pence quarterly dividend.

    The company has seeing that disposed of Valley Retail Park, Belfast in September 2017 for £11.05 million. This property became received in August 2015 for £7.15 million and following wide asset administration, repositioning and implementing the marketing strategy, the property changed into offered, realizing a major profit towards historical charge. The reported lack of £0.22 million in comparison to the carrying cost in the six month period ended 31 October 2017 represents the selling fees.

    all the way through the period beneath evaluation, i'm completely satisfied to document that the enterprise's share price consistentlytraded at a top rate to NAV, starting from four.2% to a top of 8.9%, enabling the company to lift additional capital.In October 2017, the business issued 27.ninety one million new normal shares at a hundred.5 pence per share, raising gross proceeds of £28.05 million. In a climate of Brexit connected uncertainty, this was a good influence and is anticipated to advantage our shareholders by using improving liquidity in the shares and extra reducing the continued fees ratio. The initial challenge fee represented a top class of 3.seventy six% to NAV, enabling the issuance fees to be absorbed with out diluting NAV.

    The preliminary situation of the 12 month share issuance programme, at the side of the sale of Belfast, may have a temporary dilutive impact on EPS unless these cash are absolutely deployed in new property acquisitions. The company bought a property in Portsmouth for £6.4 million on 31 October and the enterprise expects to commit radically the entire web proceeds of the preliminary problem inside 3 months. It continues to be the enterprise's target to pay a completely covered 2 pence per share dividend once fully invested.

    Over the six month duration, dividend funds mixed with an increase in share fee of 0.ninety four% produced a total shareholder return of 5.17%.

    As at 31 October 2017, the company had established a diverse portfolio of 32 industrial funding homes during the uk with a weighted ordinary real equivalent yield of eight.2%.

    Underlying property valuations have proven like-for-like increases during the two quarterly valuation stories in July and October 2017 of 1.33% and 1.5% respectively.

    financial effects

    length from 1 may additionally 2017 to 31 October 2017 (unaudited)

    length from 1 might also 2016 to 31 October 2016 (unaudited)

    12 months ended 30 April 2017 (audited) £'000

    operating earnings before fair cost changes (£'000)

    four,960

    four,989

    9,806

    operating profit (£'000)

    7,297

    894

    6,858

    income after Tax (£'000)

    6,989

    493

    6,099

    salary Per Share (fundamental and diluted) (pence)

    5.60

    0.forty two

    5.04

    EPRA earnings Per Share (fundamental and diluted) (pence)

    three.seventy three

    3.eighty one

    7.57

    Ongoing costs (%)

    1.30

    1.sixty seven

    1.fifty two

    net Asset value per share (pence)

    97.80

    ninety five.47

    95.98

    EPRA internet Asset value per share (pence)

    97.78

    ninety five.forty one

    95.ninety five

    operating profit and profit after tax have viewed massive raises in evaluation with the six months to 31 October 2016, because of adjustments within the reasonable cost of investment residences, being a £2.forty eight million boost for the six months to 31 October 2017 (six months to 31 October 2016: reduce of £3.seventy three million; twelve months to 30 April 2017: lessen of £three.sixteen million). These movements will also be attributed to both the effective effect of asset administration initiatives in the present period and high quality yield stream, certainly across our portfolio of industrial belongings.

    the continued prices ratio has diminished enormously in comparison with both the six months to 31 October 2016 and the twelve months to 30 April 2017. This comes as the enterprise continues to carry new capital, but certain overhead fees stay fixed, permitting the enterprise to benefit from economies of scale.

    NAV per share multiplied by way of 1.9% over the six months to 31 October 2017, which displays the aforementioned valuation increases within the property portfolio. The company's property portfolio has been independently valued by Knight Frank in accordance with the RICS Valuation - knowledgeable requirements (the 'crimson booklet'). As at 31 October 2017, the enterprise's Portfolio had a fair cost of £147.eight million, an increase of £4.9 million or three.4% on the mixed buy fee of the Portfolio of £142.9 million (excluding buy expenses).

    Financing

    all over the six month period to 31 October 2017, the enterprise made utilisation requests totalling £3.5 million, bringing the full drawdown volume below the personal loan facility to £32.5 million.

    On 17 October 2017, the enterprise amended the terms of its loan facility with RBSi to enhance the power limit from £32.5 million to £forty million.

    The mortgage attracts pastime at 3 month LIBOR +1.4%, making an all-in price at 31 October 2017 of 1.69% (31 October 2016: 1.ninety two%; 30 April 2017: 1.74%). The company is protected from a big upward push in activity fees as it has activity fee CAPs with a combined notional price of £26.5 million and a strike fee of two.5%.

    As at 31 October 2017, the unexpired time period of the power become three.0 years and the gearing became 22.0% (as calculated on the Gross Asset price ('GAV') of the funding portfolio.

    at the company's time-honored meeting on 17 October 2017, a decision changed into handed to increase the company's optimum borrowing restrict to 35% of GAV. The long term gearing goal is still 25% or less of GAV.

    Dividends

    The enterprise has endured to convey on its goal of declaring dividends of two pence per normal Share per quarter.

    On 1 December 2017, the Board declared an period in-between dividend of two pence per regular Share, in appreciate of the duration from 1 August 2017 to 31 October 2017. This interim dividend may be paid on 29 December 2017 to shareholders on the register as at 15 December 2017.

    The administrators will declare dividends contemplating the degree of the enterprise's net salary and the directors' view on the outlook for sustainable ordinary earnings. As such, the level of dividends paid might also boost or lessen from the existing annual dividend of eight pence per share. in response to latest market circumstances, the company expects to pay an annualised dividend of 8 pence per share in recognize of the financial length ending 31 March 2018 and for the period in-between length to 30 September 2018.

    with a purpose to align dividend payments with the enterprise's new accounting duration, in respect of the 3 month length to 31 October 2017, the business expects to pay a dividend of 2 pence per share after which, in appreciate of the two month duration to 31 December 2017, it at the moment intends to pay an additional dividend at a cost of two-thirds of the two pence per share dividend at the moment being paid for a 3 month period (reflecting both month period). With the dividend to the duration to 31 October 2017, the enterprise will have paid 17.5 pence per share considering launch.

    Outlook

    The Board are completely happy with the mighty complete returns dropped at our shareholders so far during the diverse and high-yielding property portfolio that has been dependent by using the investment supervisor. The company has delivered complete shareholder returns of 5.17% over the 6 months to 31 October 2017 and of 10.ninety% over the one year to 31 October 2017.

    at the company's fresh accepted meeting a resolution become passed to amend the business's investment Restrictions in order that the cost of homes, measured on the time of every funding, in anyone of right here sectors: office residences, retail warehouses, excessive highway retail and industrial/warehouse houses will no longer exceed 50 per cent of GAV, in comparison with NAV previously. This alternate enables the business to buy additional residences within the Industrial sector, wherein the investment manager continues to peer significant alternatives. the sector weightings may change sooner or later in response to the funding supervisor's view of market opportunities on the time.

    in the enterprise's Annual file for the yr ended 30 April 2017, I wrote that 'it remains unknown how the influence of Brexit will unfold and it is likely we are able to need to wait for a while to know the phrases of the united kingdom's exit from the european and how this will impact on the uk business property market'.As I write, this nevertheless is still the case six months later. We wait for to hear the outcomes of extra Brexit negotiations and to see if the recent hobby fee upward push of 0.25% through the bank of England has any impact on the economy and the property market.

    looking forward, our focal point continues to be on carrying on with to grow the company with extra share considerations as a part of the 12 month share issuance programme as set out in the company's Prospectus. The company has a technique to carry money at intervals in order to minimise cash drag.

    The investment supervisor continues to focus on adding price to the current portfolio and on finding future acquisitions so that it will convey a good looking return as part of a well-diversified portfolio. We seem to be ahead to asserting new acquisitions and asset administration deals in the near future.

    finally, please observe that the enterprise is changing its economic year end from 30 April to 31 March. because of this, our next Annual document will cover a length of eleven months from 1 may additionally 2017 to 31 March 2018. This alternate has been made to align the enterprise's reporting dates with these of its friends in the UK industrial property sector.

    Mark Burton

    Chairman

    6 December 2017

    Key performance indications

    KPI AND DEFINITION

    RELEVANCE TO method

    efficiency

    1. Triple net initial Yield

    A illustration to the investor of what their preliminary internet yield can be at a predetermined buy rate after taking account of all associated expenses. E.g. void prices and appoint free periods

    The Triple internet initial Yield is in accordance with the company's goal dividend yield which means that, after fees, the company should have the means to meet its goal dividend through property earnings.

    7.forty one%

    at 31 October 2017 (30 April 2017: 7.63%).

    2. proper equivalent Yield

    The ordinary weighted return a property will produce based on the present revenue and estimated condominium cost assumptions, assuming the revenue is got quarterly in enhance.

    An equal Yield profile in keeping with the business's target dividend yield indicates that, after costs, the business should still have the potential to fulfill its proposed dividend via property revenue.

    8.24%

    at 31 October 2017 (30 April 2017: eight.50%).

    3. Reversionary Yield

    The anticipated return the property will deliver as soon as rack rented.

    A Reversionary Yield profile it's in accordance with an initial Yield profile shows a probably sustainable income stream that will also be used to meet dividends previous the expiry of a property's present leasing preparations.

    eight.12%

    at 31 October 2017 (30 April 2017: eight.37%).

    4. Weighted general Unexpired rent term ('WAULT') to expiry

    The normal lease term closing to expiry across the portfolio, weighted through gotten smaller appoint.

    The investment manager believes that current market situations latest an opportunity whereby belongings with a shorter unexpired rent term are sometimes mispriced. it is also the funding manager's view that a shorter WAULT is helpful for active asset administration because it makes it possible for the funding supervisor to engage in direct negotiation with tenants rather than by means of employ evaluate mechanisms

    5.seventy nine years

    at 31 October 2017 (30 April 2017: 6.37 years).

    5. Weighted typical Unexpired hire time period to ruin

    The usual lease term closing to break, throughout the portfolio weighted by shriveled appoint.

    The funding supervisor believes that latest market circumstances current an opportunity whereby property with a shorter unexpired lease time period are sometimes mispriced. As such, it is in line with the funding supervisor's method to purchase properties with a WAULT that's often shorter than the benchmark. it is additionally the funding manager's view that a shorter WAULT is useful for active asset management because it allows the funding supervisor to engage in direct negotiation with tenants in preference to by means of rent evaluate mechanisms.

    4.fifty seven years

    at 31 October 2017 (30 April 2017: 5.22 years).

    6. NAV

    NAV is the value of an entity's property minus the cost of its liabilities.

    The NAV displays the business's skill to grow the portfolio and add cost to it right through the lifestyles cycle of its property.

    £148.22 million

    at 31 October 2017 (30 April 2017: £118.67 million).

    7. Leverage (personal loan to Gross Asset cost)

    The proportion of our property portfolio this is funded by way of borrowings.

    The company utilises borrowings to raise returns over the medium time period. Borrowings will no longer exceed 35% of GAV (measured at drawdown) with an extended term target of 25% or less of GAV.

    22.00%

    at 31 October 2017 (30 April 2017: 19.31%).

    eight. Vacant ('ERV')

    The house within the property portfolio which is at the moment unlet, as a percentage of the full ERV of the portfolio.

    The company's purpose is to minimise emptiness of the residences. A low level of structural vacancy offers an opportunity for the business to catch condo uplifts and manipulate the mix of tenants inside a property.

    8.59%

    at 31 October 2017 (30 April 2017: 7.22%).

    9. Dividend

    Dividend declared in terms of the yr. The company aims a dividend of 8.0 pence per standard Share per annum.

    The dividend reflects the business's potential to bring a sustainable salary circulation from its portfolio.

    2.0 pence per share

    for the quarter to 31 October 2017.

    This supports an annualised target of eight.0 pence per share.

    10. Ongoing costs

    The ratio of complete administration and working prices expressed as a percent of normal NAV during the length.

    the continued prices ratio gives a measure of total fees linked to managing and operating the business, which comprises the management costs because of the investment manager. The funding manager items this measure to deliver investors with a clear graphic of operational costs concerned in running the enterprise.

    1.30%

    for the six months to 31 October 2017 (30 April 2017: 1.fifty two%).

    eleven. profit earlier than tax

    PBT is a profitability measure which considers the business's earnings before the charge of earnings tax.

    The PBT is a demonstration of the company's financial efficiency for the duration in which its strategy is exercised.

    £6.99 million

    for the six months to 31 October 2017 (six months to 31 October 2016: £0.forty nine million).

    12. total Shareholder return

    The percentage exchange in the share cost assuming dividends are reinvested to purchase extra average Shares.

    This displays the return seen with the aid of shareholders on their shareholdings.

    5.17%

    for the six months to 31 October 2017 (six months to 31 October 2016: 2.seventy three%).

    13. EPRA EPS

    profits from core operational actions. A key measure of an organization's underlying operating outcomes from its property condo business and an illustration of the extent to which present dividend payments are supported by way of income. See note 7.

    This displays the company's capability to generate salary from the portfolio which underpins dividends.

    3.73 pps

    for the six months to 31 October 2017 (six months to 31 October 2016: three.81 pps).

    investment supervisor's report

    MARKET OUTLOOK

    UK financial Outlook

    Following a resilient response within the immediate aftermath of the Brexit vote, UK financial boom slowed within the first half of 2017 as inflation rose sharply, squeezing family unit spending energy. There became a slight decide on-up in Q3 2017 as a result of a higher efficiency with the aid of the industrial sector, however expectations are that boom will stay subdued. the uk is forecast to grow through 1.5% in both 2017 and 2018 (Oxford Economics country economic Forecast UK), largely due to persisted uncertainty concerning the outcomes of Brexit negotiations, which are projected to undermine funding decisions.

    In November 2017, the bank of England raised interest prices for the first time in additional than 10 years, with financial coverage Committee (MPC) citing the rising inflation, low unemployment stages and stronger international economic increase as causes behind the boost. bank of England governor, Mark Carney, has pointed out that the financial institution anticipated the united kingdom economic climate to grow at about 1.7% once a year over the following couple of years, which may result in additional pastime expense raises. The present hobby price rise, which simply reversed the cut after the eu referendum result,is unlikely to have a significant effect on increase, as interest quotes are nevertheless at the lows viewed due to the fact the fiscal disaster. despite the fact further rises within the brief time period may have a greater have an effect on.

    searching ahead, Mr Carney has noted: 'The greatest determinate of our outlook is going to be these negotiations ongoing on Brexit - both a transition deal to a brand new arrangement and what is the longer form arrangement with the european Union.'

    UK precise property Outlook

    The affect which rising inflation and activity quotes haveon the gilts curve will ultimately have an impact on the relative pricing of property. For 'typical property', we're a long method during the cycle and property fundamentals are in some sectors tremendously susceptible at the moment of uncertainty. despite the fact, property remains within the advantageous place of offering one of the most maximum yields from usual asset classes and the yield hole is comparatively high. Our view is that here is because fastened income yields are low and unattractive, and that the rise in pastime rates may see the yield gap delivery to close.

    We do youngsters trust that in an atmosphere of normalising hobby costs, rising in keeping with growing to be economic recreation, it will be precise estate thoughts that center of attention extra on the underlying value of the property fundamentals that may still operate well, the place the best of the asset dictates the sustainability of profits and the ability to seize income growth driven by the energy of the actual economic climate. The enterprise goals to carry an attractive complete return to shareholders from investing predominantly in a portfolio of smaller industrial homes in mighty business areas throughout the united kingdom. in the investment manager's view, it is therefore now not as vulnerable to capital price erosion as could be skilled by using holders of best asset portfolios.

    when it comes to sector center of attention, demand from logistics operators continues to be powerful in a give restricted market, which is assisting strong investor demand that seems to have spread to all components of the industrial market. in other places there is robust competitors amongst investors who can best buy long, funding grade earnings as a proxy for historically low mounted-salary yields, but there is still low-priced to be found in a steady quantity of ordinary core opportunities being offered to the market.With a lot focus out there on longer leased houses, we're seeing some compelling buying alternatives in our method which continues to discover yield top class with the aid of investing in smaller lot measurement properties, let on shorter than ordinary leases, however with a spotlight on sustainable areas and replicable salary streams.

    Pipeline

    The business has £39.9 million (cash for investment and debt facility) for extra acquisitions of which £22.9 million is beneath present (as 30 November 2017).

    funding goal

    The investment objective of the company is to convey a good looking complete return to shareholders from investing predominantly in a portfolio of smaller commercial properties within the uk.

    with a view to achieve its funding purpose the business invests in freehold and leasehold properties throughout the entire spectrum of the commercial property sector (workplace homes, retail warehouses, high street retail, industrial/warehouse and alternative houses) to achieve a balanced portfolio with a varied tenant base.

    funding method

    The business exploits what it believes to be the compelling relative value opportunities offered by using pricing inefficiencies in smaller industrial houses let on shorter occupational leases. The enterprise intends to complement this core strategy with asset management initiatives to improve structures and thereby increase the best of earnings streams. in the latest market atmosphere the focal point may be to invest in houses which:

    · customarily have a worth, on investment, of between £2.5 million and £15 million;

    · have initial web yields, on funding, of typically between 7.5-10%;

    · achieve throughout the whole Portfolio weighted regular lease time period of between three to six years remaining;

    · obtain, across the complete Portfolio, a various and large unfold of tenants; and

    · have some potential for asset management initiatives to include refurbishment and re-lettings.

    The business's approach is concentrated on delivering superior returns from the smaller end (as much as £15 million) of the united kingdom property market. The business believes that there are at present pricing inefficiencies in smaller industrial houses relative to the long run pricing leading to a major yield advantage which the company hopes to take advantage of. here is proven in the graphs attainable throughout the links under;

    http://www.rns-pdf.londonstockexchange.com/rns/6266Y_-2017-12-6.pdf

    http://www.rns-pdf.londonstockexchange.com/rns/6266Y_1-2017-12-6.pdf

    Portfolio undertaking

    The enterprise is invested in a different portfolio of business homes during the united kingdom. New acquisitions were chosen to deliver a sustainable salary return and the skills for boom, whilst additionally limiting downside possibility. the vast majority of the business's belongings are wholly let and, as at 31 October 2017, the business had a emptiness cost of 8.fifty nine% (30 April 2017: 7.22%). here giant funding transactions were made during the period:

    · Unit 1005, Sarus court, Runcorn - in may also 2017, the enterprise got Unit 1005, Sarus courtroom for £0.61 million, which completed the business's acquisition of the entire of the Sarus court docket industrial estate. Unit 1005 presents enormous reversionary knowledge, with a passing appoint of £four.50 per sq toes which is greater than 15% decrease than a contemporary letting at 1003 Sarus court, secured at £5.25 per sq ft. The purchase for this reason presents apartment upside and also adds cost from an property administration point of view, with the aid of bringing the whole estate under the business's possession. The acquisition pricing displays a net preliminary Yield of seven.eight% and a capital price of £55 per sq toes.

    · Deeside Industrial Park - in July 2017, the business announced the acquisition of a 97,000 sq ft single-let industrial constructing in Deeside, North Wales, for £four.31 million, reflecting a internet preliminary Yield of 7.9% and a capital cost of £forty five per sq ft. The asset, which is discovered within the dependent Deeside Industrial Park, is totally let to international enterprise, Magellan Aerospace, for a time period of simply beneath 5 years to destroy and simply under 10 years to expiry. The existing passing employ of £3.75 per sq feet is drastically below that considered at different competing centres in the North West, corresponding to in Warrington and Manchester.

    · Wyndeham, Peterborough - in July 2017, the company introduced the acquisition of a c.182,000 sq toes single-let industrial building in Peterborough for £5.7 million, reflecting a internet initial Yield of eight.64% and a capital price of c.£31 per sq ft. The asset, which is located in the eastern Industrial estate, is totally let to Walstead Investments constrained for a time period of just under four years to expiry. The passing appoint of £2.88 per sq feet is low in evaluation to one of the fresh lettings within the metropolis and the immediate neighborhood of the property.

    · industrial highway, Portsmouth - in October 2017, the business bought 208-220 commercial road and 7-13 Crasswell road, Portsmouth, for £6.37 million. The asset gives a web initial Yield of 9.6% and is wholly let to seven retail tenants and one office tenant, offering a WAULT of four years to expiry. The 12,475 sq toes retail property is headquartered within the leading pedestrianised pitch of industrial street within Portsmouth's metropolis centre.

    · Valley Retail Park, Belfast - in September 2017, the enterprise accomplished the disposal of its retail park in Belfast for a value of £eleven.05 million. The buy fee in August 2015 changed into £7.1 million and new lettings to go outdoors and Smyths Toys were completed all through the hang period.

    · Core Fund - in may 2017, the company announced the sale of its closing units in the Core Fund for complete proceeds of £7.sixty seven million, comprising a capital element of £7.62 million and an profits factor of £0.05 million. These gadgets generated a total return of 13% over the grasp duration.

    As at 31 October 2017, the business's portfolio had a good value of £147.seventy nine million (30 April 2017: £137.eighty two million). The raise of £9.ninety seven million is represented by the acquisition of 4 residences for a mixed buy price of £16.ninety nine million, the disposal of 1 property with carrying price of £eleven.05 million and a like-for-like valuation boost of £4.03 million over the duration.

    ASSET management

    We undertake active asset administration to are searching for alternatives to obtain condominium increase, let vacant space and increase price through initiatives comparable to refurbishments. during the period, key asset management initiatives included:

    · Queen square, Bristol - the enterprise introduced in July 2017 that its 38,000 sq feet office building discovered within the prestigious vital Bristol, Queen square had now been totally let following lettings to six occupiers totalling c.25,000 sq feet in the ultimate 15 months. The constructing changed into forty six% vacant when it turned into acquired in December 2015 and has proven mighty efficiency because of the power of the Bristol office market and the centered refurbishment programme undertaken. This has resulted in a valuation uplift of 21.6% over the period.

    · Langthwaite Industrial property, South Kirkby - in October 2017, the enterprise completed the renewal of two leases with its largest tenant, Ardagh Glass, on two warehouse constructions at the Langthwaite Industrial estate in South Kirkby, Yorkshire. Ardagh Glass use the premises for storage and distribution serving their nearby factories. The manufacturing group has taken the gadgets for an further term with round three years to expiry leading to a valuation uplift of the property of 9% from £5.ninety million to £6.45 million from 30 April 2017 to 31 October 2017.

    · Eastpoint business Park, Oxford - the business accomplished a brand new letting of two,800 sq ft of office lodging to publishing enterprise, Capstone, at Eastpoint business Park, Oxford. The unit has been let for a term of 5 years with a smash option in year three at a employ of £15.50 per sq feet, which is in excess of ERV.

    http://www.rns-pdf.londonstockexchange.com/rns/6266Y_2-2017-12-6.pdf

    financial results

    The company continues to construct on a diversified portfolio of properties and as at 31 October 2017 holds 32 funding residences (30 April 2017: 29 investment residences). web condominium revenue earned from the portfolio for the six months ended 31 October 2017 changed into £5.86 million (six months to 31 October 2016: £5.fifty four million; twelve months to 30 April 2017: £11.07 million), contributing to an operating profit earlier than reasonable cost alterations and disposals of £four.96 million (six months to 31 October 2016: £4.ninety nine million; twelve months to 30 April 2017: £9.eighty one million).

    The enterprise disposed of its remaining maintaining within the Core Fund on 9 may additionally 2017 for total proceeds of £7.sixty seven million. The company had held an possession within the Core Fund when you consider that may also 2015 and saw a total return of 13% over the hold length. The units have been offered at a cost in extra of the Core Fund's then most contemporary published NAV and generated a profit on disposal of £0.07 million.

    Administrative fees, which consist of the investment manager's payment and other charges because of the running of the enterprise, had been £0.90 million for the length (six months to 31 October 2016: £0.87 million; twelve months to 30 April 2017: £1.84 million) and Ongoing prices for the period were 1.30% (six months to 31 October 2016: 1.sixty seven%; twelve months to 30 April 2017: £1.fifty two%).

    The enterprise incurred finance fees of £0.31 million all through the period (six months to 31 October 2016: £0.forty million; twelve months to 30 April 2017: £0.76 million). covered in these fees is a lower in reasonable price of interest expense derivatives of £0.01 million for the six months to 31 October 2017 (six months to 31 October 2016: £0.07 million; twelve months to 30 April 2017: £0.12 million).

    the full profit earlier than tax for the duration of £6.99 million (six months to 31 October 2016: £0.forty nine million; twelve months to 30 April 2017: £6.10 million) equates to a fundamental salary per share of 5.60 pence (six months to 31 October 2016: 0.forty two pence; twelve months to 30 April 2017: 5.04 pence). This boost is largely because of earnings in the reasonable cost of funding homes of £2.48 million for the six months to 31 October 2017 compared with losses of £3.seventy three million for the six months to 31 October 2016.

    The business's NAV as at 31 October 2017 turned into £148.22 million or 97.eighty pence per share ('pps') (31 October 2016: £118.05 million or ninety five.47 pps; 30 April 2017: £118.sixty seven million or 95.98 pps). here is an increase of 1.82 pps or 1.90%, with the underlying flow in NAV set out in the desk beneath:

    Pence per share

    £ million

    NAV at 1 may additionally 2017

    95.ninety eight

    118.68

    alternate in fair cost of investment property

    2.05

    2.forty eight

    exchange in fair value of derivatives

    (0.01)

    (0.01)

    Loss on disposal of funding property

    (0.17)

    (0.22)

    earnings on disposal of investments

    0.05

    0.07

    rental and other revenue earned for the duration

    5.22

    6.50

    expenses and net finance costs for the period

    (1.47)

    (1.eighty four)

    Dividends paid

    (4.00)

    (4.94)

    difficulty of equity (net of charges)

    0.15

    27.50

    NAV at 31 October 2017

    97.80

    148.22

    EPRA EPS for the length changed into three.73 pps (six months to 31 October 2016: 3.eighty one pps) which, based on dividends paid of 4 pps, displays a dividend cover of 93.25%. as the company continues to grow, EPRA EPS is adversely impacted by the time lag between raising and investing new capital. youngsters the enterprise will advantage from a lessen ongoing prices ratio and, as soon as the capital proceeds have been wholly invested, the company expects to be capable of sustain a fully coated dividend at eight pps once a year.

    FINANCING

    As at 31 October, the enterprise had utilised £32.50 million (30 April 2017: £29.01 million) of an attainable £40 million credit facility with RBSi, maturing in October 2020. Gearing as at 31 October became 22.0% (mortgage to GAV) (30 April 2017: 19.three%). The loan attracts pastime at LIBOR +1.4% (30 April 2017: LIBOR +1.four%). To mitigate the pastime rate risk that arises on account of stepping into a variable fee linked loan, the enterprise holds pastime cost caps on £26.51 million (30 April 2017: £26.51 million) of the personal loan at a strike price of 2.5% (30 April 2017: 2.5%), meaning that the loan is 82% hedged (30 April 2017: ninety one%).

    AEW UK funding administration LLP

    6December 2017

    main risks and Uncertainties

    The most important hazards and uncertainties the enterprise faces are described in aspect on pages 26 to 29 of the 2017 Annual file, and are summarised under.

    The Board considers that the major dangers and uncertainties as offered within the 2017 Annual document had been unchanged all the way through the duration.

    true property dangers

    • Failure with the aid of tenants to pay condominium responsibilities would cut back salary and the means of the business to pay dividends.

    • charge overruns from asset management initiatives may additionally have a material hostile effect on the enterprise's profitability, the NAV and the percentage price.

    • Due diligence may additionally not identify all of the hazards and liabilities in recognize of an acquisition.

    • A fall in condominium costs might also have a material adversarial effect on the company's profitability, the NAV and the share expense.

    • A property market recession or deterioration in the property market might, inter alia (i) cause the business to recognise its investments at decrease valuations; (ii) extend the timings of the enterprise's realisations.

    • properties are inherently intricate to cost. There can be a fabric opposed impact on the company's profitability, the NAV and the percentage fee the place properties are bought that had been prior to now materially overstated.

    financial hazards

    • cloth opposed adjustments in valuations and web profits can also result in breaches within the loan to value ('LTV') and activity cowl ratio covenants within the business's borrowings.

    • The enterprise is subject to the possibility of rising LIBOR quotes on its borrowings. raises in LIBOR may also adversely affect the company's skill to pay dividends.

    • The business has a credit score facility with RBSi which expires in 2020. in the adventure that RBSi don't renew the ability, the company may additionally have to sell assets to be able to repay the magnificent loan.

    company risks

    • The enterprise has no personnel and is reliant upon the efficiency of third party service suppliers. Failure by means of any service provider could have a detrimental have an effect on on the operations of the enterprise.

    • The enterprise is based on the continuance of the investment manager.

    • negative relative total return efficiency might also cause an adversarial reputational affect that affects the business's capacity to elevate new capital and new money.

    TAXATION hazards

    • The business has a UK REIT fame that provides a tax-productive company structure. Any change to the tax status or in UK law could impact on the enterprise's potential to achieve its funding pursuits and provide appealing returns to Shareholders.

    POLITICAL / financial possibility

    • Following the vote to depart the eu in the June 2016 referendum, uncertainty is still surrounding the ecu exit manner and timing. There may be additional political and financial activities that adversely impact on the company's performance.

    accountability statement of the administrators in respect of the meantime fiscal file

    We confirm that to the better of our knowledge:

    • the condensed set of financial statements has been prepared in keeping with IAS 34 interim fiscal Reporting as adopted with the aid of the ecu;

    • the interim administration document comprises a good review of the suggestions required by:

    (a) DTR 4.2.7R of the Disclosure assistance and Transparency suggestions, being an illustration of critical movements which have passed off right through the primary six months of the monetary year and their have an impact on on the condensed set of monetary statements; and a description of the essential hazards and uncertainties for the ultimate six months of the yr; and

    (b) DTR four.2.8R of the Disclosure suggestions and Transparency rules, being connected birthday party transactions which have taken vicinity in the first six months of the existing fiscal yr and which have materially affected the monetary place or performance of the entity all over that length; and any adjustments within the related celebration transactions described in the last annual document that could do so.

    a listing of the directors is maintained on the AEW UK REIT plc web page at www.aewukreit.com

    through order of the Board

    Mark Burton

    Chairman

    6December 2017

    independent evaluate file to AEW UK REIT plc

    Conclusion

    we have been engaged by means of the enterprise to evaluate the condensed set of financial statements within the half-each year financial record for the six months ended 31 October 2017 which includes the Condensed remark of complete salary, Condensed observation of alterations in fairness, Condensed remark of fiscal position, Condensed observation of money Flows and the connected explanatory notes.

    in line with our review, nothing has come to our consideration that explanations us to accept as true with that the condensed set of monetary statements within the half-every year fiscal record for the six months ended 31 October 2017 is not prepared, in all fabric respects, according to IAS 34 interim monetary Reportingas adopted with the aid of the eu and the Disclosure information and Transparency rules ('the DTR') of the uk's fiscal habits Authority ('the united kingdom FCA').

    Scope of review

    We conducted our overview based on overseas ordinary on assessment Engagements (UK and ireland) 2410 evaluate of meantime fiscal advice carried out through the impartial Auditor of the Entityissued by using the Auditing Practices Board for use in the UK. A assessment of intervening time monetary counsel contains making enquiries, essentially of humans chargeable for economic and accounting concerns, and applying analytical and other overview tactics. We study the other tips contained within the half-yearly fiscal record and consider even if it includes any apparent misstatements or material inconsistencies with the guidance within the condensed set of economic statements.

    A review is appreciably less in scope than an audit conducted according to foreign standards on Auditing (UK) and due to this fact doesn't permit us to obtain assurance that we might become aware about all gigantic concerns that may be identified in an audit. for that reason, we don't specific an audit opinion.

    administrators' obligations

    The half-yearly fiscal document is the responsibility of, and has been authorised by means of, the administrators. The directors are answerable for making ready the half-each year economic report in line with the DTR of the uk FCA.

    The annual economic statements of the company are organized in line with foreign fiscal Reporting necessities as adopted via the eu. The administrators are liable for preparing the condensed set of financial statements included in the half-each year financial report according to IAS 34 as adopted through the european.

    Our responsibility

    Our accountability is to categorical to the enterprise a conclusion on the condensed set of monetary statements in the half-every year financial report in accordance with our review.

    The goal of our review work and to whom we owe our obligations

    This document is made entirely to the enterprise in response to the phrases of our engagement to help the company in assembly the necessities of the DTR of the united kingdom FCA. Our assessment has been undertaken so that we could state to the business these matters we're required to state to it during this record and for no different intention. To the fullest extent approved by using legislations, we don't settle for or count on responsibility to any person other than the enterprise for our evaluation work, for this report, or for the conclusions we've reached.

    invoice Holland

    for and on behalf of KPMG LLP

    Chartered Accountants

    15 Canada square

    London

    E14 5GL

    6 December 2017

    fiscal Statements

    Condensed observation of comprehensive salary

    for the six months ended 31 October 2017

    duration from

    length from

    1 may 2017 to 31 October

    1 might also 2016 to 31 October

    year ended

    30 April

    2017

    2016

    2017

    (unaudited)

    (unaudited)

    (audited)*

    word

    £'000

    £'000

    £'000

    profits

    rental and different salary

    three

    6,496

    6,054

    12,503

    Property working expenses

    four

    (641)

    (517)

    (1,434)

    internet condo and different income

    5,855

    5,537

    11,069

    Dividend salary

    three

    -

    326

    576

    web rental and dividend income

    5,855

    5,863

    11,645

    different working prices

    four

    (895)

    (874)

    (1,839)

    operating income before reasonable value changes

    four,960

    4,989

    9,806

    alternate in reasonable cost of investment homes

    9

    2,480

    (three,726)

    (3,159)

    (Loss)/income on disposal of funding homes

    9

    (216)

    410

    731

    exchange in fair price of investments

    9

    -

    (779)

    (407)

    income/(loss) on disposal of investments

    9

    seventy three

    -

    (113)

    working earnings

    7,297

    894

    6,858

    Finance cost

    5

    (308)

    (401)

    (759)

    profit earlier than tax

    6,989

    493

    6,099

    Taxation

    6

    -

    -

    -

    earnings after tax

    6,989

    493

    6,099

    different complete earnings

    -

    -

    -

    total finished earnings for the duration/12 months

    6,989

    493

    6,099

    revenue per share (pence per share) (primary and diluted)

    7

    5.60

    0.42

    5.04

    The notes below form an essential component of these condensed economic statements.

    * however not required with the aid of IAS 34, the comparative figures for the previous yr conclusion and connected notes were blanketed on a voluntary groundwork.

    Condensed remark of changes in equity

    for the six months ended 31 October 2017

    total capital

    Capital

    and reserves

    Share

    reserve and

    brought on by

    Share

    top rate

    retained

    homeowners of

    For the period 1 might also 2017 to

    capital

    account

    salary

    the business

    31 October 2017 (unaudited)

    Notes

    £'000

    £'000

    £'000

    £'000

    balance as at 1 may 2017

    1,236

    22,514

    94,924

    118,674

    complete comprehensive profits

    -

    -

    6,989

    6,989

    normal shares issued

    15,16

    279

    27,771

    -

    28,050

    Share issue prices

    16

    -

    (546)

    -

    (546)

    Dividends paid

    8

    -

    -

    (four,946)

    (four,946)

    balance as at 31 October 2017

    1,515

    forty nine,739

    96,967

    148,221

    total capital

    Capital

    and reserves

    Share

    reserve and

    brought on by

    Share

    premium

    retained

    house owners of

    For the period 1 can also 2016 to 31 October 2016 (unaudited)

    Notes

    capital

    £'000

    account

    £'000

    earnings

    £'000

    the business

    £'000

    stability at 1 can also 2016

    1,a hundred seventy five

    sixteen,729

    98,471

    116,375

    total complete salary

    -

    -

    493

    493

    commonplace shares issued

    15,sixteen

    sixty one

    5,938

    -

    5,999

    Share subject charges

    sixteen

    -

    (a hundred and twenty)

    -

    (a hundred and twenty)

    Dividends paid

    8

    -

    -

    (4,700)

    (four,700)

    stability as at 31 October 2016

    1,236

    22,547

    94,264

    118,047

    The notes under kind a vital part of these condensed economic statements.

    complete capital

    Capital

    and reserves

    Share

    reserve and

    as a result of

    Share

    top class

    retained

    owners of

    For the 12 months ended 30 April 2017 (audited)

    Notes

    capital

    £'000

    account

    £'000

    earnings

    £'000

    the business*

    £'000

    steadiness at 1 can also 2016

    1,a hundred seventy five

    16,729

    98,471

    116,375

    complete comprehensive salary

    -

    -

    6,099

    6,099

    average shares issued

    15,sixteen

    61

    5,938

    -

    5,999

    Share subject prices

    16

    -

    (153)

    -

    (153)

    Dividends paid

    eight

    -

    -

    (9,646)

    (9,646)

    steadiness as at 30 April 2017

    1,236

    22,514

    94,924

    118,674

    The notes beneath form a vital part of these condensed economic statements.

    * besides the fact that children no longer required via IAS 34, the comparative figures for the preceding year end and related notes have been blanketed on a voluntary groundwork.

    Condensed remark of economic position

    as at 31 October 2017

    As at

    As at

    As at

    31 October 2017

    31 October 2016

    30 April 2017

    (unaudited)

    (unaudited)*

    (audited)

    Notes

    £'000

    £'000

    £'000

    assets

    Non-present assets

    investment property

    9

    147,030

    125,734

    one hundred thirty five,570

    Investments

    9

    -

    9,330

    -

    147,030

    a hundred thirty five,064

    135,570

    present property

    Investments held on the market

    9

    -

    -

    7,594

    Receivables and prepayments

    10

    2,204

    four,600

    3,382

    different economic property held at reasonable cost

    eleven

    24

    78

    31

    cash and cash equivalents

    34,537

    10,a hundred and fifty five

    three,653

    36,765

    14,833

    14,660

    total assets

    183,795

    149,897

    one hundred fifty,230

    Non-existing Liabilities

    pastime bearing loans and borrowings

    12

    (32,259)

    (26,201)

    (28,740)

    Finance lease duties

    14

    (591)

    (1,582)

    (fifty five)

    (32,850)

    (27,783)

    (28,795)

    latest Liabilities

    Payables and collected charges

    13

    (2,677)

    (3,949)

    (2,756)

    Finance lease responsibilities

    14

    (47)

    (118)

    (5)

    (2,724)

    (4,067)

    (2,761)

    complete Liabilities

    (35,574)

    (31,850)

    (31,556)

    net assets

    148,221

    118,047

    118,674

    fairness

    Share capital

    15

    1,515

    1,236

    1,236

    Share top class account

    16

    forty nine,739

    22,547

    22,514

    Capital reserve and retained income

    96,967

    ninety four,264

    94,924

    total capital and reserves attributable to fairness holders of the company

    148,221

    118,047

    118,674

    internet Asset value per share (pence per share)

    7

    97.eighty

    95.forty seven

    95.ninety eight

    The fiscal statements were permitted with the aid of the Board of administrators on 6 December 2017 and had been signed on its behalf with the aid of:

    Mark Burton

    Chairman

    AEW UK REIT plc

    company quantity: 09522515

    The notes above kind a vital part of those condensed consolidated monetary statements.

    * although no longer required with the aid of IAS 34, the comparative figures for the preceding duration end and connected notes had been covered on a voluntary foundation.

    Condensed statement of cash Flows

    for the six months ended 31 October 2017

    length from

    duration from

    For the 12 months

    1 can also 2017 to

    1 may also 2016 to

    ended 30 April

    31 October 2017

    31 October 2016

    2017

    (unaudited)

    (unaudited)

    (audited)*

    £'000

    £'000

    £'000

    money flows from operating actions

    working income

    7,297

    894

    6,858

    Adjustment for non-cash objects:

    (profit)/loss from change in reasonable value of funding property

    (2,480)

    three,726

    three,159

    Loss from change in reasonable value of investments

    -

    779

    407

    Loss/(income) on disposal of funding property

    216

    (410)

    (731)

    (earnings)/loss on disposal of investments

    (seventy three)

    -

    113

    decrease/(raise) in other receivables and prepayments

    666

    (1,638)

    (483)

    (lessen)/raise in other payables and collected fees

    (1,178)

    981

    (283)

    web money generated from working actions

    4,448

    four,332

    9,085

    cash flows from investing activities

    buy of funding property

    (17,329)

    (15,587)

    (28,062)

    Disposal of investment property

    10,858

    710

    2,681

    Disposal of investments

    7,667

    -

    1,995

    net money generated from/(used in) investing actions

    586

    (14,877)

    (23,386)

    money flows from financing activities

    Proceeds from difficulty of regular share capital

    28,050

    5,999

    5,999

    Share difficulty fees

    (453)

    (117)

    (153)

    mortgage draw down

    3,490

    12,260

    14,760

    Finance charges

    (291)

    (705)

    (969)

    Dividends paid

    (4,946)

    (4,seven hundred)

    (9,646)

    net money generated from financing activities

    25,850

    12,737

    9,991

    net boost/(lower) in cash and cash equivalents

    30,884

    2,192

    (4,310)

    cash and money equivalents at first of the duration/yr

    3,653

    7,963

    7,963

    money and cash equivalents at the end of the period/year

    34,537

    10,one hundred fifty five

    three,653

    The notes below kind an integral part of those condensed consolidated economic statements.

    * despite the fact not required by using IAS 34, the comparative figures for the preceding 12 months end and related notes were included on a voluntary foundation.

    Notes to the Condensed monetary Statements

    for the six months ended 31 October 2017

    1. corporate assistance

    AEW UK REIT plc (the 'enterprise') is a closed ended true estate funding have confidence ('REIT') incorporated on 1 April 2015 and domiciled in the UK.

    The comparative guidance for the yr to 30 April 2017 does not constitute statutory money owed as described in section 434 of the businesses Act 2006. The auditors mentioned on those accounts; their report become unqualified, and didn't comprise an announcement under area 498(25) or (23) of the organizations Act 2006.

    2. Accounting guidelines

    2.1 foundation of coaching

    These intervening time condensed unaudited monetary statements had been organized according to IAS 34 intervening time fiscal Reporting, and should be examine together with the enterprise's ultimate monetary statements for the 12 months ended 30 April 2017. These condensed unaudited monetary statements don't include all guidance required for an entire set of monetary statements proposed based on IFRS as adopted through the european ('ecu IFRS'), despite the fact, selected explanatory notes had been blanketed to explain movements and transactions which are tremendous in understanding alterations within the company's monetary place and performance due to the fact the closing monetary statements. A evaluation of the meantime financial suggestions has been carried out with the aid of the independent Auditor of the business and changed into permitted for problem on 6 December 2017.

    The comparative figures disclosed within the condensed unaudited economic statements and connected notes had been presented for the six month length to 31 October 2016 and year ended 30 April 2017 and as at 31 October 2016 and 30 April 2017.

    youngsters now not required via IAS 34, the comparative figures as at 31 October 2016 for the Condensed commentary of monetary place and for the 12 months ended 30 April 2017 for the Condensed statement of finished salary, Condensed remark of alterations in fairness and Condensed remark of cash Flows and linked notes have been included on a voluntary groundwork.

    These condensed unaudited fiscal statements had been organized beneath the ancient-can charge conference, except for funding property, investments and interest cost derivatives which have been measured at reasonable cost.

    The condensed unaudited economic statements are introduced in Sterling and all values are rounded to the nearest thousand pounds (£'000), except when in any other case indicated.

    The enterprise is exempt by way of virtue of part 402 of the groups Act 2006 from the requirement to put together community fiscal statements. These economic statements existing assistance fully in regards to the enterprise as an individual accomplishing.

    New requirements, amendments and interpretations

    There are a few new standards and amendments to existing specifications which had been posted and are mandatory for the enterprise's accounting durations starting after 1 November 2017 or later durations, but the enterprise has determined not to adopt them early. here are the most central to the company and their affect on the monetary statements:

    • IFRS 7 (fiscal instruments: Disclosures) amendments involving additional hedge accounting disclosures (utilized when IFRS 9 is applied);

    • IFRS 9 (fiscal instruments) positive for annual durations starting on or after 1 January 2018;

    • IFRS 15 (salary from Contracts with purchasers) issued in might also 2014 and applies to an annual reporting period starting on or after 1 January 2018; and

    • IFRS sixteen (Leases) issued in January 2016 and is constructive for annual durations beginning on or after 1 January 2019.

    The company doesn't are expecting the adoption of latest accounting requisites issued but not yet constructive to have a major influence on the monetary Statements.

    2.2 huge accounting judgements and estimates

    The preparation of financial statements based on european IFRS requires the administrators of the enterprise to make judgements, estimates and assumptions that affect the said quantities recognised in the fiscal statements. besides the fact that children, uncertainty about these assumptions and estimates may result in results that require a fabric adjustment to the carrying amount of the asset or liability sooner or later.

    i) Valuation of investment property

    The business's investment property is held at fair price as determined via the unbiased valuer on the foundation of fair price based on the internationally accredited Royal institution of Chartered Surveyors ('RICS') Appraisal and Valuation standards.

    ii) Valuation of investments

    Investments in collective investment schemes are stated at NAV price with any ensuing profit or loss known in income or loss. The NAV value is regarded by way of the directors to be the top-quality reflection of reasonable value purchasable to the enterprise.

    iii) Segmental tips

    in keeping with IFRS 8, the company is organised into one leading operating segment being investment in property and property connected investments in the UK.

    2.three Going difficulty

    The directors have made an assessment of the company's potential to continue as a going issue and are convinced that the company has the substances to continue in enterprise for at least 365 days. moreover, the directors don't seem to be privy to any cloth uncertainties that might also solid large doubt upon the enterprise's capability to continue as a going concern. therefore, the economic statements had been prepared on the going challenge groundwork.

    2.four summary of massive accounting policies

    The principle accounting policies applied within the practise of these economic statements are in step with those utilized inside the business's Annual record and economic Statements for the 12 months ended 30 April 2017.

    3. salary

    period from

    period from

    1 may additionally 2017 to

    1 can also 2016 to

    12 months ended

    31 October

    31 October

    30 April

    2017

    2016

    2017

    (unaudited)

    (unaudited)

    (audited)

    £'000

    £'000

    £'000

    Gross apartment earnings bought

    6,495

    5,847

    12,147

    Dilapidation revenue obtained

    -

    204

    301

    other property salary

    1

    three

    fifty five

    total rental and other profits

    6,496

    6,054

    12,503

    Dividend earnings:

    Property salary distribution*

    -

    313

    552

    Dividend distribution

    -

    13

    24

    -

    326

    576

    complete profits

    6,496

    6,380

    13,079

    * Property salary distribution ('PID') arose on the investment within the Core Fund which holds property without delay.

    appoint receivable below the terms of the leases is adjusted for the effect of any incentives agreed.

    4. costs

    duration from

    length from

    1 may 2017 to

    1 may additionally 2016 to

    yr ended

    31 October

    31 October

    30 April

    2017

    2016

    2017

    (unaudited)

    (unaudited)

    (audited)

    £'000

    £'000

    £'000

    Property working prices

    641

    517

    1,434

    other operating prices

    funding administration payment

    519

    526

    1,034

    Auditor remuneration

    forty one

    48

    88

    Operation expenses

    292

    266

    646

    directors' remuneration

    43

    34

    71

    complete other working costs

    895

    874

    1,839

    complete operating expesnes

    1,536

    1,391

    three,273

    5. Finance rate

    duration from

    length from

    1 can also 2017 to

    1 can also 2016 to

    yr ended

    31 October

    31 October

    30 April

    2017

    2016

    2017

    (unaudited)

    (unaudited)

    (audited)

    £'000

    £'000

    £'000

    pastime payable on loan borrowings

    268

    244

    483

    Amortisation of personal loan association charge

    41

    39

    78

    company payment payable on mortgage borrowings

    (10)

    10

    21

    commitment fee payable on mortgage borrowings

    2

    38

    60

    301

    331

    642

    change in fair price of pastime expense derivatives

    7

    70

    117

    total

    308

    401

    759

    6. Taxation

    length from

    duration from

    1 may also 2017 to

    1 may additionally 2016 to

    yr ended

    31 October

    31 October

    30 April

    2017

    2016

    2017

    (unaudited)

    (unaudited)

    (audited)

    £'000

    £'000

    £'000

    complete tax can charge

    -

    -

    -

    evaluation of cost within the period/year

    earnings earlier than tax

    6,989

    493

    6,099

    Theoretical tax at UK company tax normal price of 19% (31 October 2016: 20%; 30 April 2017: 19.92%)

    1,328

    98

    1,215

    Adjusted for:

    Exempt REIT income

    (884)

    (868)

    (1,798)

    UK dividends that aren't taxable

    -

    (forty five)

    (5)

    Non deductable funding losses

    (444)

    815

    588

    complete

    -

    -

    -

    7. profits per share and NAV per share

    period from

    period from

    1 can also 2017 to

    1 can also 2016to

    12 months ended

    31 October

    31 October

    30 April

    2017

    2016

    2017

    income per share

    complete complete profits (£'000)

    6,989

    493

    6,099

    Weighted usual number of shares

    124,860,772

    118,563,367

    121,084,416

    revenue per share (primary and diluted) (pence)

    5.60

    0.42

    5.04

    EPRA revenue per share

    total complete profits (£'000)

    6,989

    493

    6,099

    Adjustment to complete complete earnings:

    alternate in fair value of investment property (£'000)

    (2,480)

    three,726

    3,159

    Loss/(profit) on disposal of funding property (£'000)

    216

    (410)

    (731)

    Loss/(gain) from exchange in fair price of funding (£'000)

    -

    779

    407

    (earnings)/loss on disposal of investments (£'000)

    (73)

    -

    113

    alternate in fair cost of activity cost derivatives (£'000)

    7

    (70)

    117

    total EPRA income (£'000)

    4,659

    4,518

    9,164

    EPRA income per share (basic and

    diluted) (pence)

    three.73

    three.eighty one

    7.57

    NAV per share:

    web belongings (£'000)

    148,221

    118,047

    118,674

    commonplace Shares

    151,558,251

    123,647,250

    123,647,250

    NAV per share (pence)

    97.80

    ninety five.47

    ninety five.98

    EPRA NAV per share:

    internet property (£'000)

    148,221

    118,047

    118,674

    changes to web belongings:

    different economic assets held at reasonable value (£'000)

    (24)

    (78)

    (31)

    EPRA NAV (£'000)

    148,197

    117,969

    118,643

    EPRA NAV per share (pence)

    97.78

    ninety five.forty one

    ninety five.ninety five

    EPS amounts are calculated by means of dividing income for the period because of general equity holders of the enterprise through the weighted general variety of commonplace Shares in challenge throughout the period. EPRA NNNAV is equal to IFRS NAV and as such a reconciliation between the two measures has now not been carried out.

    8. Dividends paid

    length from

    period from

    1 may additionally 2017 to

    1 may additionally 2016 to

    12 months ended

    31 October

    31 October

    30 April

    2017

    £'000

    2016

    £'000

    2017

    £'000

    Fourth interim dividend paid in respect of the period

    1 February 2017 to 30 April 2017 at 2p per normal Share

    2,473

    -

    -

    First meantime dividend paid in appreciate of the period

    1 may additionally 2017 to 31 July 2017 at 2p per general Share

    2,473

    -

    -

    Fourth period in-between dividend paid in recognize of the duration

    1 February 2016 to 30 April 2016 at 2p per commonplace Share

    -

    2,350

    2,350

    First period in-between dividend paid in respect of the period 1 may additionally 2016 to 31 July 2016 at 2p per typical Share

    -

    2,350

    2,350

    2nd period in-between dividend paid in respect of the length 1 August 2016 to 31 October 2016 at 2p per usual Share

    -

    -

    2,473

    Third interim dividend paid in recognize of the duration 1 November 2016 to 31 January 2017 at 2p per commonplace Share

    -

    -

    2,473

    total dividends paid during the duration

    four,946

    four,seven-hundred

    9,646

    second interim dividend declared in recognize of the length 1 August 2017 to 31 October 2017 at 2p per usual Share*

    2,473

    -

    -

    Fourth meantime dividend declared for the duration 1 February 2017 to 30 April 2017 at 2p per typical Share

    (2,473)

    -

    -

    2d period in-between dividend declared in respect of the period 1 August 2016 to 31 October 2016 at 2p per usual Share*

    -

    2,473

    -

    Fourth meantime dividend declared in appreciate of the duration 1 February 2017 to 30 April 2017 at 2p per usual Share*

    -

    -

    2,473

    Fourth intervening time dividend declared in respect of the period 1 February 2016 to 30 April 2016 at 2p per average Share

    -

    (2,350)

    (2,350)

    complete dividends in respect of the duration/12 months

    four,946

    4,823

    9,769

    *Dividends declared after the length end are not blanketed in the monetary statements as a legal responsibility.

    9. Investments

    9.a) investment property

    duration from 1 may additionally 2017 to

    31 October 2017 (unaudited)

    duration from

    1 may additionally 2016 to 31 October

    year Ended 30 April

    investment

    funding

    2016

    2017

    properties

    properties

    (unaudited)

    (audited)

    freehold

    leasehold

    total

    total

    complete

    £'000

    £'000

    £'000

    £'000

    £'000

    UK investment property

    As at beginning of period/year

    a hundred and fifteen,845

    21,975

    137,820

    114,340

    114,340

    Purchases in the period/year

    18,309

    -

    18,309

    15,587

    28,146

    Disposals within the period/12 months

    (eleven,050)

    -

    (11,050)

    (300)

    (1,950)

    Revaluation of investment property

    956

    1,750

    2,706

    (three,742)

    (2,716)

    Valuation supplied through Knight Frank

    124,060

    23,725

    147,785

    one hundred twenty five,885

    137,820

    Adjustment to fair value for employ free debtor

    (1,393)

    (1,716)

    (2,230)

    Adjustment to fair value for employ assure debtor

    -

    (one hundred thirty five)

    (80)

    Adjustment for finance hire obligations

    638

    1,seven-hundred

    60

    total funding property

    147,030

    a hundred twenty five,734

    135,570

    trade in reasonable price of funding property

    earnings/(loss) from alternate in reasonable cost

    2,706

    (3,742)

    (2,716)

    Adjustment for move in the length/yr:

    in reasonable cost for appoint free debtor

    (306)

    (634)

    (1,148)

    in fair price for rent guarantee debtor

    80

    650

    705

    2,480

    (three,726)

    (three,159)

    (Loss)/earnings on sale of the investment property

    net proceeds from disposals of investment property right through the duration/yr

    10,858

    710

    2,681

    cost of disposal

    (11,050)

    (300)

    (1,950)

    rent incentives amortised in current length/yr

    (24)

    -

    -

    (Loss)/earnings on disposal of funding property

    (216)

    410

    731

    Valuation of funding property

    Valuation of funding property is performed by Knight Frank LLP, an approved exterior valuer with known and valuable expert qualifications and recent event of the area and class of the investment property being valued.

    The valuation of the enterprise's investment property at reasonable value will depend on the exterior valuer on the foundation of market value according to the internationally accepted RICS Valuation - expert requirements (incorporating the overseas Valuation standards).

    The resolution of the fair value of investment property requires the use of estimates corresponding to future cash flows from property (similar to lettings, tenants' profiles, future revenue streams, capital values of fixtures and fittings, plant and machinery, any environmental concerns and the standard fix and circumstance of the property) and cut price rates relevant to those flows.

    9.b) investment

    length from

    duration from

    1 may 2017

    1 may additionally 2016

    yr ended

    to 31 October

    to 31 October

    30 April

    2017

    2016

    2017

    (unaudited)

    (unaudited)

    (audited)

    total

    total

    total

    £'000

    £'000

    £'000

    funding in AEW UK Core Property Fund

    As at beginning of period/yr

    7,594

    10,109

    10,109

    Purchases in the duration/yr

    -

    -

    -

    Disposals in the length/yr

    (7,594)

    -

    (2,108)

    Loss from alternate in reasonable value

    -

    (779)

    (407)

    complete funding in AEW UK Core Property Fund

    -

    9,330

    7,594

    income/(loss) on disposal of the funding in AEW UK Core Property Fund

    Proceeds from disposals of investments right through the period/yr

    7,667

    -

    1,995

    can charge of disposal

    (7,594)

    -

    (2,108)

    earnings/(loss) on disposal of investments

    seventy three

    -

    (113)

    Valuation of investments

    Investments in collective investment schemes are brought up at NAV with any ensuing income or loss regarded in earnings or loss. fair cost is classified by using the administrators in accordance with the choicest attainable suggestions.

    As at 31 October 2017, the company had no investment within the Core Fund.

    9.c) fair value size hierarchy

    the following table provides the fair price dimension hierarchy for non-latest belongings:

    31 October 2017

    significant

    enormous

    Quoted prices in

    observable

    unobservable

    energetic markets

    inputs

    inputs

    (level 1)

    (stage 2)

    (level 3)

    complete

    £'000

    £'000

    £'000

    £'000

    property measured at fair value

    funding property

    -

    -

    147,030

    147,030

    -

    -

    147,030

    147,030

    31 October 2016

    massive

    giant

    Quoted expenditures in

    observable

    unobservable

    active markets

    inputs

    inputs

    (stage 1)

    (level 2)

    (stage 3)

    complete

    £'000

    £'000

    £'000

    £'000

    assets measured at fair value

    investment property

    -

    -

    a hundred twenty five,734

    125,734

    funding in AEW UK Core Property Fund

    -

    -

    9,330

    9,330

    -

    -

    a hundred thirty five,064

    a hundred thirty five,064

    30 April 2017

    enormous

    big

    Quoted expenses in

    observable

    unobservable

    active markets

    inputs

    inputs

    (level 1)

    (level 2)

    (level three)

    complete

    £'000

    £'000

    £'000

    £'000

    belongings measured at fair price

    investment property

    -

    -

    a hundred thirty five,570

    one hundred thirty five,570

    investment in AEW UK Core Property Fund

    -

    -

    7,594

    7,594

    -

    -

    143,164

    143,164

    rationalization of the fair cost hierarchy:

    stage 1 - Quoted expenditures for the same instrument in lively markets;

    stage 2 - costs of contemporary transactions for similar gadgets and valuation techniques the usage of observable market records; and

    stage 3 - Valuation concepts the use of non-observable information.

    Sensitivity analysis to tremendous alterations in unobservable inputs within degree 3 of the hierarchy

    The massive unobservable inputs used in the fair cost size labeled inside degree three of the reasonable cost hierarchy of the entity's portfolios of funding properties are:

    1) Estimated condominium price ('ERV')

    2) equal yield

    increases/(decreases) in the ERV (per sq toes perannum) in isolation would result in an improved/(reduce) fair cost size. raises/(decreases) in the bargain price/yield in isolation would result in a reduce/(better) fair cost dimension.

    The big unobservable inputs used in the fair price size categorised within level three of the fair cost hierarchy of the entity's investment is:

    1) NAV

    increases/(decreases) in the NAV would outcomes in an improved/(reduce) fair value dimension.

    The big unobservable inputs used within the fair value dimension categorised inside stage three of the reasonable price hierarchy of the portfolio of investment property and investments are:

    huge

    fair value

    Valuation

    unobservable

    category

    £'000

    technique

    inputs

    range

    31 October 2017

    investment Property

    147,785

    revenue capitalisation

    ERV

    equivalent yield

    £2.50 - £160.00

    6.79% - 9.72%

    31 October 2016

    funding Property

    125,885

    salary capitalisation

    ERV

    £2.00 - £a hundred and sixty.00

    equal yield

    6.99% - 11.03%

    Investments

    9,330

    Market capitalisation

    NAV

    £1.1612

    30 April 2017

    funding Property

    137,820

    revenue capitalisation

    ERV

    £2.00 - £one hundred sixty.00

    equivalent yield

    6.ninety four% - 10.27%

    Investments

    7,594

    NAV

    NAV

    £1.1942

    the place viable, sensitivity of the reasonable values of level three assets are tested to alterations in unobservable inputs to low in cost alternate options.

    gains and losses recorded in earnings or loss for habitual fair price measurements categorized within stage 3 of the reasonable value hierarchy are as a result of adjustments in unrealised gains or losses concerning funding property and investments held on the conclusion of the reporting length.

    related to each funding property and investments, gains and losses for ordinary fair value measurements categorized inside degree three of the fair value hierarchy, earlier than adjustment for rent free debtor and rent guarantee debtor, are recorded in profit and loss.

    The carrying quantity of the property and liabilities, specified inside the Condensed Consolidated remark of financial position, is regarded to be the identical as their fair cost.

    31 October 2017

    alternate in ERV

    change in equal yield

    £000

    £'000

    £'000

    £'000

    Sensitivity evaluation

    +5%

    -5%

    +5%

    -5%

    resulting fair price of funding property

    154,000

    141,059

    139,a hundred twenty five

    156,441

    31 October 2016

    change in ERV

    change in equal yield

    £'000

    £'000

    £'000

    £'000

    Sensitivity analysis

    +5%

    -5%

    +5%

    -5%

    resulting reasonable price of investment property

    131,540

    120,505

    118,895

    133,605

    30 April 2017

    exchange in ERV

    trade in equivalent yield

    £'000

    £'000

    £'000

    £'000

    Sensitivity evaluation

    +5%

    -5%

    +5%

    -5%

    ensuing reasonable value of investment property

    143,606

    131,979

    129,906

    a hundred forty five,906

    10. Receivables and prepayments

    31 October

    31 October

    30 April

    2017

    2016

    2017

    £'000

    £'000

    £'000

    Receivables

    hire debtor

    653

    2,one hundred fifty five

    461

    Dividend receivable

    -

    146

    110

    different profits debtors

    -

    -

    192

    appoint agent drift account

    fifty eight

    fifty one

    fifty seven

    different receivables

    forty four

    309

    213

    755

    2,661

    1,033

    hire free debtor

    1,393

    1,716

    2,230

    rent assure debtor

    -

    one hundred thirty five

    80

    2,148

    4,512

    3,343

    Prepayments

    Property linked prepayments

    30

    57

    10

    Capital prepayments

    -

    -

    1

    Depositary functions

    7

    7

    eight

    record charges

    4

    three

    8

    different prepayments

    15

    21

    12

    fifty six

    88

    39

    total

    2,204

    four,600

    3,382

    eleven. pastime price derivatives

    31 October

    31 October

    30 April

    2017

    2016

    2017

    £'000

    £'000

    £'000

    in the beginning of the period/year

    31

    seventy seven

    77

    interest fee cap premium paid

    -

    71

    71

    alterations in fair value of activity expense derivatives

    (7)

    (70)

    (117)

    at the conclusion of the length/yr

    24

    78

    31

    To mitigate the activity cost chance that arises because of entering into variable fee linked loans, the company entered into an hobby price CAP, all over the mixed notional price of £26.fifty one million (2017: £26.51 million) and a strike fee of 2.5% (2017: 2.5%) for the important length in line with the lifetime of the loan.

    the total premium payable within the duration towards securing the pastime fee caps changed into £nil.

    reasonable value hierarchy

    the following table offers the reasonable price measurement hierarchy for pastime price derivatives:

    belongings measured at fair price

    Quoted prices

    enormous

    giant

    in energetic

    observable

    unobservable

    markets

    enter

    inputs

    (stage 1)

    (stage 2)

    (level three)

    total

    Valuation date

    £'000

    £'000

    £'000

    £'000

    31 October 2017

    -

    24

    -

    24

    31 October 2016

    -

    78

    -

    78

    30 April 2017

    -

    31

    -

    31

    The fair price of these contracts are recorded in the Consolidated remark of fiscal position as on the length conclusion.

    There had been no transfers between level 1 and degree 2 all through the length, nor have there been any transfers between stage 2 and stage three all over the period.

    The carrying amount of the property and liabilities, unique inside the Consolidated statement of monetary place, is considered to be the same as their fair price.

    12. interest bearing loans and borrowings

    financial institution borrowings drawn

    31 October

    31 October

    30 April

    2017

    2016

    2017

    £'000

    £'000

    £'000

    at the beginning of the duration/12 months

    29,010

    14,250

    14,250

    bank borrowings drawn in the period/year

    three,490

    12,260

    14,760

    hobby bearing loans and borrowings

    32,500

    26,510

    29,010

    less: personal loan concern expenses incurred

    (400)

    (388)

    (388)

    Plus: amortised mortgage problem costs

    159

    seventy nine

    118

    at the conclusion of the period/yr

    32,259

    26,201

    28,740

    Repayable between 2 and 5 years

    32,500

    26,510

    29,010

    financial institution borrowings obtainable however undrawn within the period/yr

    7,500

    13,490

    10,990

    complete facility purchasable

    40,000

    forty,000

    40,000

    The enterprise entered right into a £forty.0 million credit facility with the RBSi on 20 October 2015. On 11 may additionally 2017, the business reduced its purchasable loan facility from £forty.0 million to £32.5 million and on 17 October 2017, the company accelerated the purchasable facility again to £40.0 million. on the length conclusion, £7.5 million remained undrawn.

    Borrowing charges associated with the credit facility are shown as finance costs in be aware 5 to these fiscal statements.

    The time period to maturity as at the period conclusion is 2.97 years.

    13. Payables and amassed charges

    31 October

    31 October

    30 April

    2017

    2016

    2017

    £'000

    £'000

    £'000

    Deferred salary

    1,223

    three,122

    1,513

    Accruals

    532

    526

    534

    other creditors

    922

    301

    709

    total

    2,677

    three,949

    2,756

    14. Finance rent obligations

    Finance leases are capitalised on the rent's commencement at that decrease of the fair price of the property and the current cost of the minimal hire funds. The current price of the corresponding condo tasks are protected as liabilities

    here desk analyses the minimum rent funds beneath non-cancellable finance leases:

    31 October

    31 October

    30 April

    2017

    2016

    2017

    £'000

    £'000

    £'000

    now not later than 12 months

    forty seven

    118

    5

    Later than one year however now not later than five years

    154

    432

    15

    Later than 5 years

    437

    1,one hundred fifty

    40

    591

    1,582

    fifty five

    total

    638

    1,seven-hundred

    60

    15. Issued Share Capital

    For the duration 1 may 2017 to 31 October 2017

    variety of

    £'000

    ordinary Shares

    common Shares issued and fully paid

    originally of the period

    1,236

    123,647,250

    Issued on admission to trading on the London inventory trade on 24 October 2017

    279

    27,911,001

    on the end of the period

    1,515

    151,558,251

    On 24 October 2017, the enterprise issued 27,911,001 general Shares at a price of 100.5 pence per share pursuant to the preliminary putting, preliminary offer for Subscription and Intermediaries present of the percentage Issuance Programme, as described in the prospectus posted via the company on 28 September 2017.

    For the duration 1 may also 2016 to 31 October 2016

    variety of

    £'000

    typical Shares

    ordinary Shares issued and wholly paid

    in the beginning of the duration

    1,175

    117,510,000

    Issued on admission to trading on the London inventory trade on 16 September 2016

    24

    2,450,000

    Issued on admission to buying and selling on the London stock alternate on 10 October 2016

    37

    3,687,250

    on the end of the duration

    1,236

    123,647,250

    For the duration ended 30 April 2017

    number of

    £'000

    ordinary Shares

    average Shares issued and absolutely paid

    originally of the 12 months

    1,one hundred seventy five

    117,510,000

    Issued on admission to trading on the London inventory alternate on sixteen September 2016

    24

    2,450,000

    Issued on admission to buying and selling on the London stock trade on 10 October 2016

    37

    three,687,250

    at the conclusion of the period

    1,236

    123,647,250

    16. Share top class account

    duration from

    length from

    1 can also 2017 to

    1 may also 2016to

    12 months ended

    31 October

    31 October

    30 April

    2017

    2016

    2017

    £'000

    £'000

    £'000

    the share top class relates to amounts subscribed for share capital in extra of nominal value:

    balance at the start of the duration/year

    22,514

    sixteen,729

    16,729

    Share difficulty prices (paid and collected)

    -

    (23)

    (23)

    Issued on admission to buying and selling on the London stock exchange on sixteen September 2016

    -

    2,352

    2,352

    Share challenge costs (paid and accumulated)

    -

    (42)

    (forty two)

    Issued on admission to trading on the London stock exchange on 10 October 2016

    -

    three,586

    3,586

    Share problem costs (paid and collected)

    -

    (fifty five)

    (88)

    Issued on admission to trading on the London stock change on 24 October 2017

    27,771

    -

    -

    Share situation can charge

    (546)

    -

    -

    steadiness on the conclusion of the duration/12 months

    forty nine,739

    22,547

    22,514

    17. Transaction with linked parties

    As defined through IAS 24 linked birthday celebration Disclosures, events are regarded to be connected if one celebration has the skill to manage the other party or exercise massive impact over the other birthday celebration in making financial or operational choices.

    For the six months ended 31 October 2017, the directors' of the enterprise are regarded to be the key management personnel. directors' remuneration is disclosed in note 4.

    The enterprise is party to an investment management agreement with the investment manager, pursuant to which the business has appointed the investment supervisor to provide investment administration features relating to the respective assets on a day-to-day groundwork in accordance with their respective investment ambitions and guidelines, subject to the normal supervision and path of the Boards of administrators.

    below the funding administration agreement the funding supervisor receives a management fee which is calculated and accumulated monthly at a fee such as 0.9% once a year of NAV (except un-invested fund elevating proceeds) and paid quarterly.

    right through the length 1 may also 2017 to 31 October 2017, the enterprise incurred £519,373 (31 October 2016: £525,776; 30 April 2017: £1,033,637) in admire of funding management expenses and charges of which £259,276 turned into spectacular at 31 October 2017 (31 October 2016: £253,769; 30 April 2017: £252,850).

    On 1 may additionally 2017, the enterprise had a protecting of 6,359,440 shares within the Core Fund, which were valued at £7,594,443. The funding was deemed to be with a related party as a result of the ordinary have an impact on of the investment supervisor over both events. On 9 can also 2017, the enterprise sold its remaining funding within the Core Fund for proceeds of £7.sixty seven million.

    18. events after reporting date

    Dividend

    On 1 December 2017, the Board declared its 2d intervening time dividend of two.00 pence per share in respect of the duration from 1 August 2017 to 31 October 2017. this is to be paid on 29 December 2017 to shareholders on the register as at 15 December 2017. The ex-dividend date can be 14 December 2017.

    EPRA Unaudited performance Measures

    unique below is a summary desk showing the EPRA efficiency measures of the business

    MEASURE AND DEFINITION

    intention

    performance

    1. EPRA earnings

    profits from operational activities.

    A key measure of a company's underlying operating outcomes and an indication of the extent to which latest dividend funds are supported with the aid of income.

    £four.66 million/three.seventy three pps

    EPRA profits for the six month period to 31 October 2017 (six month duration to 31 October 2016: £four.52 million/3.81 pps)

    2. EPRA NAV

    net asset price adjusted to consist of properties and different investment hobbies at reasonable value and to exclude certain objects no longer expected to crystallise in a long-term funding property company.

    Makes adjustments to IFRS NAV to provide stakeholders with essentially the most valuable guidance on the reasonable cost of the belongings and liabilities within a true precise property investment company with a protracted-time period funding method.

    £148.20 million/97.78 pps

    EPRA NAV as at 31 October 2017 (At 30 April 2017: £118.64 million/95.95 pps)

    3. EPRA NNNAV

    EPRA NAV adjusted to include the fair values of:

    (i) fiscal devices;

    (ii) debt; and

    (iii) deferred taxes.

    Makes adjustments to EPRA NAV to deliver stakeholders with essentially the most crucial assistance on the current reasonable price of the entire assets and liabilities within a real property enterprise.

    £148.22 million/ninety seven.eighty pps EPRA NNNAV as at 31 October 2017 (At 30 April 2017: £118.sixty seven million/ninety five.ninety eight pps)

    four.1 EPRA internet initial Yield ('NIY')

    Annualised condo salary in keeping with the cash rents passing on the balance sheet date, much less non-recoverable property working expenses, divided through the market price of the property, extended with (estimated) clients' prices.

    A related measure for portfolio valuations. This measure may still make it less demanding for traders to judge themselves, how the valuation of portfolio X compares with portfolio Y.

    7.39%

    EPRA NIY as at 31 October 2017 (At 30 April 2017: 7.12%)

    4.2 EPRA 'Topped-Up' NIY

    This measure accommodates an adjustment to the EPRA NIY in recognize of the expiration of appoint-free durations (or other unexpired rent incentives similar to discounted appoint durations and step rents).

    A related measure for portfolio valuations. This measure should make it more straightforward for investors to choose themselves, how the valuation of portfolio X compares with portfolio Y.

    7.seventy nine%

    EPRA 'Topped-Up' NIY as at 31 October 2017 (At 30 April 2017: 8.27%)

    5. EPRA vacancy

    Estimated Market rental value ('ERV') of vacant space divided by using ERV of the whole portfolio.

    A 'pure' (%) measure of investment property house this is vacant, based on ERV.

    8.fifty nine%

    EPRA vacancy as at 31 October 2017 (At 30 April 2017: 7.22%)

    6. EPRA cost Ratio

    Administrative and working costs (together with and except fees of direct vacancy) divided via gross rental salary.

    A key measure to enable meaningful measurement of the adjustments in an organization's working charges.

    23.60%

    EPRA charge Ratio (including direct vacant can charge) as at 31 October 2017 (At 30 April 2017: 24.20%)

    15.fifty four%

    EPRA cost ratio with the exception of direct vacancy costsas at 31 October 2017 (At 30 April 2017: 18.37%

    Calculation of EPRA internet preliminary Yield and 'topped-up' internet preliminary Yield

    31 October

    2017

    £'000

    funding property - thoroughly owned

    147,785

    Allowance for estimated consumers' charge

    10,049

    Gross up achieved property portfolio valuation

    157,834

    Annualised money passing apartment earnings

    12,653

    Property outgoings

    (984)

    Annualised web rents

    11,669

    employ expiration of appoint-free intervals and glued uplifts

    621

    'Topped-up' web annualised hire

    12,290

    EPRA web preliminary Yield

    7.39%

    EPRA 'topped-up' internet preliminary Yield

    7.seventy nine%

    EPRA net initial Yield (NIY) groundwork of calculation

    EPRA NIY is calculated because the annualised web hire, divided through the gross cost of the achieved property portfolio.

    The valuation of grossed up completed property portfolio will depend on our external valuers as at 31 October 2017, plus an allowance for estimated purchaser's expenses. Estimated purchaser's prices are determined by the important stamp responsibility legal responsibility, plus an estimate through our valuers of agent and criminal charges on notional acquisition. The internet hire deduction allowed for property outgoings is in line with our valuers' assumptions on future habitual non-recoverable salary expenditure.

    In calculating the EPRA 'topped-up' NIY, the annualised web rent is increased with the aid of the overall shrunk hire from expiry of hire-free durations and future shriveled condominium uplifts.

    Calculation of EPRA emptiness expense

    31 October

    2017

    £'000

    Annualised competencies condo price of vacant premises

    1,a hundred ninety

    Annualised advantage condominium price for the completed property portfolio

    13,849

    EPRA vacancy cost

    8.59%

    Calculation of EPRA cost Ratios

    31 October

    2017

    £'000

    Administrative/working cost per IFRS revenue observation

    1,536

    much less: floor rent prices

    (4)

    EPRA prices (including direct vacancy prices)

    1,532

    Direct emptiness charges

    (523)

    EPRA costs (aside from direct vacancy expenses)

    1,009

    Gross apartment profits

    6,491

    EPRA can charge Ratio (together with direct emptiness costs)

    23.60%

    EPRA can charge Ratio (apart from direct emptiness expenses)

    15.54%

    enterprise counsel

    Share Register Enquiries

    The register for the typical Shares is maintained by using Computershare Investor services PLC. in the event of queries regarding your holding, please contact the Registrar on 0370 889 4069 or electronic mail: [email protected]

    adjustments of identify and/or handle ought to be notified in writing to the Registrar, on the handle proven under. which you can determine your shareholding and find practical support on transferring shares or updating your particulars at www.investorcentre.co.uk.

    Share guidance

    general £0.01 Shares 151,558,251

    SEDOL number BWD2415

    ISIN quantity GB00BWD24154

    Ticker/TIDM AEWU

    Share costs

    The enterprise's ordinary Shares are traded on the leading Market of the London inventory exchange.

    Annual and meantime reviews

    Copies of the Annual and meantime reviews can be found from the business's website

    Provisional monetary Calendar

    31 March 2018

    year end (the company is changing its economic 12 months end from 30 April to 31 March. consequently, our next Annual document will cover a period of 11 months from 1 may additionally 2017 to 31 may 2018)

    June 2018

    Announcement of annual consequences

    September 2018

    Annual regular meeting

    30 September 2018

    Half-yr conclusion

    November 2018

    Announcement of intervening time results

    Dividends

    the following desk summarises the amounts recognised as distributions to equity shareholders in the period:

    £

    intervening time dividend for the duration 1 can also 2017 to 31 July 2017 (charge made on 30 September 2017

    2,472,945

    Dividend for the length 1 August 2017 to 31 October 2017 (charge to be made on 29 December 2017)

    three,031,one hundred sixty five

    complete

    5,504,one hundred ten

    administrators

    Mark Burton* (Non-govt Chairman)

    James Hyslop (Non-executive Director)

    Bimaljit (''Bim'') Sandhu* (Non-executive Director)

    Katrina Hart* (Non-govt Director)

    Registered workplace

    6th flooring

    sixty five Gresham road

    London

    EC2V 7NQ

    funding manager

    AEW UK investment management LLP

    33 Jermyn highway

    London

    SW1Y 6DN

    Tel: 020 7016 4880

    web page: www.aewuk.co.uk

    Property supervisor

    M J Mapp

    180 remarkable Portland highway

    London

    W1W 5QZ

    company broker

    Fidante Capital

    1 Tudor road

    London

    EC4Y 0AH

    criminal Adviser to the business

    Gowling WLG (UK) LLP

    four more London Riverside

    London

    SE1 2AU

    Depositary

    Langham corridor UK LLP

    5 old Bailey

    London

    EC4M 7BA

    Administrator

    hyperlink alternative Fund administrators restrained

    Beaufort condo

    51 New North street

    Exeter

    EX4 4EP

    enterprise Secretary

    hyperlink enterprise matters restricted

    6th flooring

    sixty five Gresham street

    London

    EC2V 7NQ

    Registrar

    Computershare Investor capabilities PLC

    The Pavilions

    Bridgwater street

    Bristol

    BS13 8AE

    Auditor

    KPMG LLP

    15 Canada rectangular

    London

    E14 5GL

    Valuer

    Knight Frank LLP

    55 Baker highway

    London

    W1U 8AN

    *independent of the investment supervisor.

    Frequency of NAV book:

    The business's NAV is launched to the London stock change on a quarterly groundwork and is posted on the enterprise's website.

    country wide Storage Mechanism

    a copy of the intervening time record can be submitted shortly to the countrywide Storage Mechanism ('NSM') and will be purchasable for inspection at the NSM, which is centered at www.morningstar.co.uk/uk/NSM.



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    IBM 000-779 Exam (IBM Tivoli Workload Scheduler V8.2 Implementation) Detailed Information



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