Share Name Share Symbol Market Type Share ISIN Share Description
Intu Properties Plc LSE:INTU London Ordinary Share GB0006834344 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.655 -5.11% 12.155 11.975 12.405 13.50 11.035 13.50 10,972,550 16:35:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 581.1 -1,179.4 -84.3 - 165

Intu Properties PLC Market Update

20/01/2020 7:00am

UK Regulatory (RNS & others)


Intu Properties (LSE:INTU)
Historical Stock Chart

2 Months : From Dec 2019 to Feb 2020

Click Here for more Intu Properties Charts.

TIDMINTU

RNS Number : 2855A

Intu Properties PLC

20 January 2020

LEI: 213800JSNTERD5CJZO95

FOR IMMEDIATE RELEASE

NOT FOR DISTRIBUTION IN THE UNITED STATES

20 JANUARY 2020

INTU PROPERTIES PLC

MARKET UPDATE

Further to recent press speculation, intu properties plc ("intu" or the "Company") continues to make progress in its strategy to fix the balance sheet.

Consistent with previous announcements, this now includes targeting an equity raise alongside its full year results at the end of February.

The Company is currently engaged in constructive discussions with both shareholders and potential new investors on the proposed equity raise.

In addition, recent progress on the balance sheet includes:

- in December, announced exchanged contracts to dispose of intu Puerto Venecia for EUR475 million (intu share: EUR238 million). The net proceeds of the transaction will be used to repay debt and is expected to reduce loan to value by around 1 per cent

- nearly GBP500 million of disposals in 2019, with the negotiations for the disposal of intu Asturias at advanced stages

Matthew Roberts, intu Chief Executive, commented:

"We have delivered a robust operational performance for 2019 finishing with a busy Christmas trading period. Total footfall in 2019 was 0.3 per cent ahead of 2018, flat in the UK which significantly outperformed the Springboard footfall monitor for shopping centres.

Occupancy was stable at 95 per cent and to date 97 per cent of rent has been collected for the first quarter of 2020 demonstrating the lower risk of our existing customer base.

We are making good progress with fixing the balance sheet, our number one priority, and are confident we have the right strategy in place to enable us to prosper as we see continued polarisation between the best destinations and the rest."

ENQUIRIES

intu properties plc

Matthew Roberts Chief Executive +44 (0)20 7960 1353

Robert Allen Chief Financial Officer +44 (0)20 7960 1360

Adrian Croft Head of Investor Relations +44 (0)20 7960 1212

Public relations

UK: Justin Griffiths, Powerscourt +44 (0)20 7250 1446

SA: Frédéric Cornet, Instinctif Partners +27 (0)11 447 3030

DISCLAIMER

Any securities offered in connection with the equity raise referred to above have not been and will not be registered under the US Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration. There will be no public offering of securities in the United States.

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

UPDKKKBNABKKQDB

(END) Dow Jones Newswires

January 20, 2020 02:00 ET (07:00 GMT)

1 Year Intu Properties Chart

1 Year Intu Properties Chart

1 Month Intu Properties Chart

1 Month Intu Properties Chart
Your Recent History
LSE
INTU
Intu Prope..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20200229 11:05:00