Yew Grove REIT PLC Main Market Listing Update (1103D)
26 October 2020 - 6:00PM
UK Regulatory
TIDMYEW
RNS Number : 1103D
Yew Grove REIT PLC
26 October 2020
Yew Grove REIT plc
(the "Company" or "Yew Grove ")
Main Market Listing Update
Yew Grove REIT plc (LSE:YEW, Euronext:YEW), which owns a
diversified portfolio of Irish commercial property assets, is
pleased to have been able to demonstrate market leading rent
collection and stable property values since the start of the
pandemic, which has taken a significant amount of the Company's
management focus and time. Over the coming months the Company will
be required to mitigate a combination of factors, including the
effects of the on-going pandemic, continue essential property and
asset management and migrate its shares from CREST to Euroclear
Bank.
The Irish tax provisions governing REITs require the Company to
have its shares listed on a main market of a recognised stock
exchange in an EU member state within a specified timeframe. The
deadline is three years after electing for REIT status, unless the
Revenue exercise the discretion granted to them under the relevant
legislation to extend this period. The Company approached the
Revenue to discuss an extension of this deadline to 31 May 2022 in
order that the Company can better manage the additional commitments
before it. The Revenue has confirmed that, based on the specific
circumstances, it is agreeable to such an extension.
For further information contact:
Yew Grove REIT plc +353 1 485 3950
Jonathan Laredo, Chief Executive Officer
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Charles Peach, Chief Financial Officer
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Michael Gibbons, Chief Investment Officer
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Goodbody Stockbrokers UC +353 1 667 0400
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Joint Broker & Euronext Growth Advisor
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David Kearney, John Flynn, Edel O'Reilly
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Liberum Capital Limited
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Joint Broker & Nomad +44 20 3100 2000
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Richard Crawley, Jamie Richards
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IFC Advisory Limited +44 203 934 6630
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Financial PR yewgrovereit@investor-focus.co.uk
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Tim Metcalfe, Graham Herring
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Forward-looking Statements
Certain information contained in this announcement may
constitute forward looking information. This information relates to
future events or occurrences or the Company's future performance.
All information other than information of historical fact is
forward looking information. The use of any of the words
"anticipate", "plan", "continue", "estimate", "expect", "may",
"will", "project", "should", "believe", "predict" and "potential"
and similar expressions are intended to identify forward-looking
information. This information involves known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking information. No assurance can be given that this
information will prove to be correct and such forward-looking
information included in this announcement should not be relied
upon. Forward-looking information speaks only as of the date of
this announcement. The forward-looking information included in this
announcement is expressly qualified by this cautionary statement
and is made as of the date of this announcement. The Company and
its group does not undertake any obligation to publicly update or
revise any forward looking information except as required by
applicable securities laws.
Notes to editors
Yew Grove REIT plc, quoted on the London Stock Exchange's AIM
market and on the Euronext Growth Market in Dublin, is an Irish
commercial real estate company invested in a diversified portfolio
of Irish commercial property. Yew Grove has a particular focus on
well-tenanted commercial real estate assets comprising of office
and industrial assets outside of Dublin's Central Business
District.
Yew Grove's highly experienced team has a proven track record in
commercial property investment and asset management in Ireland and
internationally and is focused on delivering results. Its
investment approach is strategic, not speculative, principally on
assets that are let, pre-let or to be let after refurbishment.
Shareholders are provided with stable, long-term income from a
diverse portfolio of commercial property comprising well-tenanted
real estate in strategic centres let to Irish government entities
and other state bodies, IDA Ireland supported and other FDI
companies, and larger corporates.
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