FCA/FRC recommendations - 2019 final results & AGM

RNS Number : 2912H

Regional REIT Limited

24 March 2020

 

24 March 2020

REGIONAL REIT Limited

("Regional REIT", the "Group" or the "Company")

FCA/FRC recommendations - 2019 final results & AGM

Regional REIT (LSE: RGL), the regional real estate investment specialist focused on building a diverse portfolio of income producing regional UK core and core plus office and industrial property assets, at the request of the Financial Conduct Authority ("FCA") supported by the Financial Reporting Council ("FRC"), today announces a delay to the publication of its 2019 final results.

Following the 21 March 2020 FCA and FRC announcements, which strongly requested all listed companies observe a moratorium on the publication of financial statements for at least two weeks, the Group's 2019 final results scheduled for release on 26 March 2020 will now be delayed. The FCA announcement can be found here and the FRC statement here .

In addition, the Company will also be postponing its Annual General Meeting ("AGM"), which was previously scheduled for 21 May 2020.

Notice of a revised time and date for the 2019 final results announcement and AGM will be published as soon as practicable.

As a result of the current market volatility caused by the global spread of COVID-19, the Company is no longer considering an equity fundraise, as announced on 20 February 2020.

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Enquiries:

Regional REIT Limited
Toscafund Asset Management	Tel: [phone]
Investment Manager to the Group
Adam Dickinson, Investor Relations, Regional REIT Limited
London & Scottish Property Investment Management	Tel: [phone]
Asset Manager to the Group
Stephen Inglis
Buchanan Communications	Tel: [phone]
Financial PR	[e-mail]
Charles Ryland / Victoria Hayns / Henry Wilson

About Regional REIT  

Regional REIT Limited ("Regional REIT" or the "Company") and its subsidiaries (the "Group") is a United Kingdom ("UK") based real estate investment trust that launched in November 2015. It is managed by London & Scottish Property Investment Management Limited, the Asset Manager, and Toscafund Asset Management LLP, the Investment Manager.

Regional REIT's commercial property portfolio is comprised wholly of income producing UK assets and comprises, predominantly, offices and industrial units located in the regional centres outside of the M25 motorway. The portfolio is highly diversified, with 160 properties, 904 tenants as at 31 December 2019, with a valuation of 787.9m.

Regional REIT pursues its investment objective by investing in, actively managing and disposing of regional core and core plus property assets. It aims to deliver an attractive total return to its Shareholders, targeting greater than 10% per annum, with a strong focus on income supported by additional capital growth prospects.

The Company's shares were admitted to the Official List of the UK's Financial Conduct Authority and to trading on the London Stock Exchange on 6 November 2015. For more information, please visit the Group's website at  www.regionalreit.com .

Cautionary Statement

This document has been prepared solely to provide additional information to Shareholders to assess the Group's performance in relation to its operations and growth potential. The document should not be relied upon by any other party or for any other reason. Any forward looking statements made in this document are done so by the Directors in good faith based on the information available to them up to the time of their approval of this document. However, such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking information.

ESMA Legal Entity Identifier ("LEI"): (549300D8G4NKLRIKBX73)

 

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