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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sirius Real Estate Ld | LSE:ESRE | London | Ordinary Share | GG00B1W3VF54 | ORD NPV (EUR) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.996 | 0.952 | 1.04 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSRE
RNS Number : 6567U
Sirius Real Estate Limited
01 April 2019
01 April 2019
Sirius Real Estate Limited
("Sirius Real Estate", "Sirius" or the "Company")
Notice of trading update
Sirius Real Estate, the leading operator of branded business parks providing conventional space and flexible workspace in Germany, will announce a trading update at 07.00 on Monday, 08 April 2019.
A conference call for analysts will be held at 09.00 on the day of the announcement. If you wish to dial in, please email james.verstringhe@tavistock.co.uk for details.
For further information:
Sirius Real Estate
Andrew Coombs, CEO/Alistair Marks, CFO
Tel: +49 (0)30 285010110
Tavistock (Financial PR)
Jeremy Carey/James Verstringhe
Tel: +44 (0)20 7920 3150
Email: siriusrealestate@tavistock.co.uk
NOTES TO EDITORS
About Sirius Real Estate
Sirius is a property company listed on the main market and premium segment of the London Stock Exchange and the main board of the Johannesburg Stock Exchange. It is a leading operator of branded business parks providing conventional space and flexible workspace in Germany. The Company's core strategy is the acquisition of business parks at attractive yields, the integration of these business parks into its network of sites under the Company's own name as well as offering a range of branded products within those sites, and the reconfiguration and upgrade of existing and vacant space to appeal to the local market, through intensive asset management and investment. The Company's strategy aims to deliver attractive returns for shareholders by increasing rental income and improving cost recoveries and capital values, as well as by enhancing those returns through financing its assets on favourable terms. Once sites are mature and net income and values have been optimised, the Company may take the opportunity to refinance the sites to release capital for investment in new sites or consider the disposal of sites in order to recycle equity into assets which present greater opportunity for the asset management skills of the Company's team.
On 1 March 2019, Sirius announced that, in a transaction anticipated to complete in June 2019, it had formed a real estate investment joint venture with clients represented by AXA Investment Managers - Real Assets in which AXA acting on behalf of its clients, will own a 65% interest and Sirius will own the balance of 35%. The JV is called Titanium. The JV will initially be formed by AXA acquiring, on behalf of its clients, from Sirius a 65% stake in five SPVs through which it currently owns two business parks located in Berlin (Berlin Borsig and Berlin Tempelhof) and one in each of Mainz, Nurnberg and Bayreuth. The business parks provide a combination of office, warehouse, industrial and storage space. The implied property value of EUR168 million equates to a gross yield for the portfolio of 6.2% and reflects a premium to the last reported book value as at 30 September 2018 which was EUR141.1 million. Total cash commitment from AXA IM - Real Assets amounts to EUR43.9 million. The transaction is expected to generate total cash proceeds of more than EUR70 million for Sirius after refinancing and expected related costs.
For more information, please visit: www.sirius-real-estate.com
Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/
Follow us on Twitter at @SiriusRE
LEI: 213800NURUF5W8QSK566
JSE Sponsor
PSG Capital
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
MSCLIFIASVILIIA
(END) Dow Jones Newswires
April 01, 2019 05:30 ET (09:30 GMT)
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