Atrium European Real Estate Limited
EANS-Adhoc: Atrium European Real Estate Limited
Update on dividend and announcement of strategic review
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.
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Company Information/Dividend Announcements/Distribution
09.12.2019
St Helier Jersey / Channel Islands -
Update on dividend and announcement of strategic review
Ad hoc announcement - Jersey, 10 December 2019. Atrium European Real Estate
Limited (VSE/ Euronext: ATRS) ("Atrium" or the "Company" and together with its
subsidiaries, the "Atrium Group"), a leading owner, operator and redeveloper of
shopping centres and retail real estate in Central Europe, announces that,
further to the statements made in its announcements of 23 July and 7 November
2019, its board of directors (the "Board") has taken the decision to reinstate
the Q3 and Q4 2019 dividends.
Atrium also announces that the Board and management team have been undertaking a
strategic review to identify further growth opportunities to deliver strong,
long term sustainable income returns for all the Company's shareholders. The
strategic review is focused on, amongst other things, leveraging the operating
platform in Poland and the Czech Republic, continued execution of the Company's
asset rotation programme, densification of core retail assets and
diversification into other classes of real estate, including focusing on
residential for rent. As part of this diversification strategy, the Company has
entered into an agreement which gives it the option, subject to the relevant
approvals, to acquire the controlling stake in a future residential building
with c. 900 apartments in the heart of Warsaw.
The 2020 dividend policy will be announced at the time of the 2019 annual
results publication. The Annual Results are scheduled to be released on 26
February 2020, in advance of the Company's first quarter dividend payment date
expected at the end of March 2020.
The Q3 and Q4 2019 dividends of EURcents 6.75 per share each which will be paid
as a capital repayment in a single distribution of EURcents 13.5 on 30th
December 2019 to shareholders on the register at 23rd December 2019 with an ex
date of 20th December 2019.
For further information:
FTI Consulting Inc.:
Richard Sunderland/Claire Turvey
+44 (0)20 3727 1000
atrium@fticonsulting.com
About Atrium European Real Estate
Atrium is a leading owner, operator and redeveloper of shopping centres and
retail real estate in Central Europe. Atrium specializes in locally dominant
food, fashion and entertainment shopping centres in the best urban locations.
Atrium owns 31 properties with a total gross leasable area of over 850,000 sqm
and with a total market value of approximately EUR2.7 billion. These properties
are located in Poland, the Czech Republic, Slovakia and Russia, and with the
exception of one, are all managed by Atrium's internal team of retail real
estate professionals.
The Company is established as a closed-end investment company incorporated and
domiciled in Jersey and regulated by the Jersey Financial Services Commission as
a certified Jersey listed fund, and is listed on both the Vienna Stock Exchange
and the Euronext Amsterdam Stock Exchange. Appropriate professional advice
should be sought in the case of any uncertainty as to the scope of the
regulatory requirements that apply by reason of the above regulation and
listings. All investments are subject to risk. Past performance is no guarantee
of future returns. The value of investments may fluctuate. Results achieved in
the past are no guarantee of future results.
Further inquiry note:
For further information:
FTI Consulting Inc.:
+44 (0)20 3727 1000
Richard Sunderland
Claire Turvey
Richard.sunderland@fticonsulting.com
end of announcement euro adhoc
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issuer: Atrium European Real Estate Limited
Seaton Place 11-15
UK-JE4 0QH St Helier Jersey / Channel Islands
phone: +44 (0)20 7831 3113
FAX:
mail: richard.sunderland@fticonsulting.com
WWW: http://www.aere.com
ISIN: JE00B3DCF752
indexes:
stockmarkets: Wien, Luxembourg Stock Exchange
language: English