We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Axa Property Trust Limited | LSE:APT | London | Ordinary Share | GG00BHXH0C87 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 31.75 | 31.00 | 32.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAPT AXA Property Trust Limited (a closed-ended investment company incorporated with limited liability under the laws of Guernsey with registered number 43007) LEI Number: 213800AF85VEZMDMF931 (The "Company") LEASE NEGOTIATIONS AT CURNO CONCLUDED The Board of Directors are pleased to confirm that lease negotiations have concluded in respect of the Company's last remaining asset at Curno, Italy. These negotiations arose in response to the previously-announced and significant deterioration in the tenant's operating results from the property. After considering potential alternative options for the asset, the Manager entered into negotiations in early 2018 with the aim of negotiating overall terms that would improve liquidity and maximise potential pricing. Summary details of the agreed lease terms, which include a material increase in the fixed term, are as follows: Term 15 years fixed, from 1 January 2019 with an automatic nine-year extension unless cancelled by the tenant with a minimum 12-month notice period. Base Rent Year 1 - EUR 800,000, subject to a rent-free incentive equivalent to five months' rent. Year 2 (i.e. from January 2020) - EUR 830,000, and thereafter to be indexed to 100% of the ISTAT Consumer Index on an upwards-only basis. As part of the overall negotiation package the tenant also receives a fixed contribution of approximately EUR 330,000. Variable Rent There will be an incremental rent of between EUR 1.50 and EUR 2.50 per ticket sold above a minimum threshold of 350,000 tickets per year. Tenant Guarantee There will be an increased guarantee package as security against the tenant's obligations throughout the term of the lease. The Board consider that the revised lease terms provide the property with significant income stability and improved prospects for liquidity and a future sale. Further announcements regarding the disposal strategy for the asset will be made in due course. Company website:retail.axa-im.co.uk/axa-property-trust All Enquiries: Investment Manager AXA Investment Managers UK Limited Broker Services 7 Newgate Street London EC1A 7NX United Kingdom Broker Stifel Nicolaus Europe Limited 150 Cheapside London EC2V 6ET United Kingdom Tel: +44 (0)20 7710 7600 Company Secretary Northern Trust International Fund Administration Services (Guernsey) Limited PO Box 255 Trafalgar Court Les Banques St Peter Port Guernsey GY1 3QL Channel Islands END
(END) Dow Jones Newswires
December 17, 2018 08:58 ET (13:58 GMT)
1 Year Axa Property Chart |
1 Month Axa Property Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions