Green REIT PLC Investment Manager Agreement Update (0285G)
24 May 2017 - 4:00PM
UK Regulatory
TIDMGRN
RNS Number : 0285G
Green REIT PLC
24 May 2017
Investment Manager Agreement Update
Dublin, 24 May, 2017 | Green REIT Plc, ("Green REIT", or "the
Company"), confirms that the Investment Manager Agreement in place
with Green Property REIT Ventures DAC since the launch of the
Company in July 2013 will be renewed in July 2018, on the same
terms, for a further three year renewal period (please see
explanatory note below).
Gary Kennedy, Chairman of Green REIT, commented: "We are pleased
to confirm the continuation of the Investment Manager Agreement for
a further three years beyond July 2018, and we welcome the
certainty that this brings. The board looks forward to continuing
to work with the management team to add further value for
shareholders through the completion of the current development
pipeline, growing our income and dividends, and exploiting further
opportunities that arise in the coming years."
Contacts
Green Property REIT Ventures (Investment Manager to the
Company)
Niall O'Buachalla
+353 (0) 1 2418400
www.greenreitplc.com
FTI Consulting (IR and PR to the Company)
Dublin: Jonathan Neilan
+353 (0) 1 7650886
London: Giles Barrie / Claire Turvey
+44 (0)20 3727 1042/1241
greenreit@fticonsulting.com
About the Investment Manager Agreement
Green REIT Plc entered into the Investor Management Agreement
("IMA") with Green Property REIT Ventures DAC ("the Investment
Manager") on 12 July 2013. The Investment Manager provides asset
management services to the Company and manages its property
portfolio on a day-to-day basis.
The initial term of the IMA was 5 years to 11 July 2018. The IMA
further provides that in the absence of notice of termination of
the IMA, which notice can be given by either party no less than 12
months before the expiry of the initial term, the IMA continues in
force thereafter on the same terms for consecutive 3 year renewal
periods. Once within a renewal period either party can give notice
to terminate the IMA at the end of that renewal period, with not
less than 12 months' notice.
As both the Company and the Investment Manager have confirmed to
each other that they will not be serving notice of termination of
the IMA, it will continue in force for a 3 year renewal period, as
explained above.
Note on forward-looking information
This Announcement contains forward-looking statements, which are
subject to risks and uncertainties because they relate to
expectations, beliefs, projections, future plans and strategies,
anticipated events or trends, and similar expressions concerning
matters that are not historical facts. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors, which may cause the actual results, performance or
achievements of the Company or the industry in which it operates,
to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. The forward-looking statements referred to in this
paragraph speak only as at the date of this Announcement. The
Company will not undertake any obligation to release publicly any
revision or updates to these forward-looking statements to reflect
future events, circumstances, unanticipated events, new information
or otherwise except as required by law or by any appropriate
regulatory authority.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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