NewRiver REIT PLC Statement regarding Arcadia Group (3483C)

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RNS Number : 3483C

NewRiver REIT PLC

14 June 2019

NewRiver REIT plc

("NewRiver" or the "Company")

Statement regarding Arcadia Group

NewRiver notes the announcement by Arcadia Group on 12 June 2019, confirming that all seven of its Company Voluntary Arrangements ('CVAs') have been approved by the required majority of the companies' creditors.

For the purposes of clarification, NewRiver confirms that its total rental exposure to Arcadia Group is limited to GBP363,000, which represents 0.3% of the Company's gross income, and that there will be no reduction to this rental income as a result of the CVAs.

For further information

 
     NewRiver REIT plc                               [phone] 
     Allan Lockhart (Chief Executive) 
      Mark Davies (Chief Financial Officer) 
     Will Hobman (Head of Investor 
      Relations & Strategy) 
 
 
                               [phone] 
     Finsbury                   3801 
     Gordon Simpson 
      James Thompson 
 

About NewRiver

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing, developing and recycling convenience-led, community-focused retail and leisure assets throughout the UK.

Our GBP1.3 billion portfolio covers over 9 million sq ft and comprises 34 community shopping centres, 19 conveniently located retail parks and over 650 community pubs. Having hand-picked our assets since NewRiver was founded in 2009, we have deliberately focused on the fastest growing and most sustainable sub-sectors of the UK retail market, with grocery, convenience stores, value clothing, health & beauty and discounters forming the core of our retail portfolio. This focus, combined with our affordable rents and desirable locations, delivers sustainable and growing returns for our shareholders, while our active approach to asset management and in-built 1.9 million sq ft development pipeline provide further opportunities to extract value from our portfolio.

NewRiver has a Premium Listing on the Main Market of the London Stock Exchange (ticker: NRR) and is a constituent of the FTSE 250 and EPRA indices. Visit www.nrr.co.uk for further information.

LEI Number: 2138004GX1VAUMH66L31

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June 14, 2019 07:00 ET (11:00 GMT)