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| 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 |
From Apr 2019 to Apr 2024
TIDMWINV
RNS Number : 6364T
Worsley Investors Limited
21 July 2020
21 July 2020
Worsley Investors Limited
("Worsley Investors" or, together with its subsidiaries, the "Group")
Curno cinema update
On 23 February 2020, the governmental authorities of Lombardy, Italy, decreed that, in light of the Covid-19 situation, all cinemas in the region were to close temporarily.
During the period since, the Group has been in discussions with UCI Italia S.p.A. ('UCI'), the tenant of the Group's multiplex cinema in Curno, and understands it is their current intention to re-open in mid-August.
The Board is pleased to announce that agreement in principle has been reached for the amendment of the terms of UCI's lease of the cinema.
It is proposed that, in exchange for a considerable period of rent holiday, the base annual rental (currently EUR830,000) under the lease will increase significantly from 1 March 2021 and its minimum term will extend until 30 June 2035 rather than the present 31 December 2033.
The rental holiday will deliver a substantial cash flow benefit to UCI during a period when the cinema has not operated normally. In return, the rental increase and lengthening of the lease term will provide Worsley Investors with a corresponding benefit to capital value.
The agreement remains subject to documentation which is in the process of being finalised, following which a further announcement containing full details of the new arrangements will be made.
Enquiries:
For further information, please contact:
Worsley Associates LLP (Investment Advisor)
Blake Nixon
Tel: +44 (0) 203 873 2288
Shore Capital (Financial Adviser and Broker)
Robert Finlay / Anita Ghanekar / Hugo Masefield
Tel: +44 (0) 20 74080 4050
Praxis Fund Services Limited (Administrator and Secretary)
Matt Falla / Katrina Rowe
Tel: +44 (0) 1481 73760
LEI: 213800AF85VEZMDMF931
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
July 21, 2020 06:13 ET (10:13 GMT)
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