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Yew Grove REIT PLC - Main Market Listing Update

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

 

Charles Peach, Chief Financial Officer

 

Michael Gibbons, Chief Investment Officer

 

 

 

Goodbody Stockbrokers UC

+353 1 667 0400

Joint Broker & Euronext Growth Advisor

 

David Kearney, John Flynn, Edel O'Reilly

 

 

 

Liberum Capital Limited

 

Joint Broker & Nomad

+44 20 3100 2000

Richard Crawley, Jamie Richards

 

 

 

IFC Advisory Limited

+44 203 934 6630

Financial PR

[email protected]

Tim Metcalfe, Graham Herring

 

 

 

 

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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