REG-AEW UK REIT plc AEW UK REIT plc: Result of legal proceedings

Aew UK ReitAnnouncement

23/04/2021 07:05

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   AEW UK REIT plc (AEWU)
   AEW UK REIT plc: Result of legal proceedings

   23-Apr-2021 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   23 April 2021 
    
   AEW UK REIT Plc (the "Company") 
    
   Result of legal proceedings 
    

   AEW UK REIT plc (LSE: AEWU) (the "Company") is pleased to announce the
   successful outcome of its legal action against two well-funded national
   tenants to recover unpaid rent. The court ruled in the Company's favour
   and ordered that rent due for the periods claimed must be paid.

   The total amount to be recovered pursuant to the legal action is £602,489.
   In addition, the Company will be writing to the tenants to claim the
   outstanding rent arrears that have fallen due for payment since the claims
   were issued and are confident of further recovery given the outcome of its
   successful application to the court.

   It is also the Company's intention to seek to recover its legal fees
   incurred in the litigation from the tenants.

   The combined total of the amount already claimed and the outstanding rent
   arrears that have fallen due for payment since the claims commenced is
   £1,200,566, including VAT. Of this amount, £924,530 relates to the period
   up to 31 March 2021, 56% (£520,919) of which has been provided for as at
   that date.

   The expected receipt of the outstanding amounts that have previously been
   provided for will contribute to the Company's EPRA EPS.  

   AEWU has always made it clear that it will take legal action against
   tenants if required, particularly well-resourced companies that it
   believes are able to pay their rent and have sought to take advantage of
   government legislation intended to protect financially vulnerable tenants.
   Both tenants have a limited time period during which they may submit an
   appeal.  
    
   ENDS  

    

   Enquiries                        
   AEW UK                           
   Alex Short                       1 alex.short@eu.aew.com 
                                   +44(0) 20 7016 4848 
   Henry Butt                      henry.butt@eu.aew.com 
                                   +44(0) 20 7016 4855
   Nicki Gladstone                  2 nicki.gladstone-ext@eu.aew.com 
                                   +44(0) 7711 401 021  
   Company Secretary                
   Link Company Matters Limited    aewu.cosec@linkgroup.co.uk 
                                   +44(0) 1392 477 500 
                                    
   TB Cardew                        3 AEW@tbcardew.com 
   Ed Orlebar                      +44 (0) 7738 724 630 
   Tania Wild                      +44 (0) 7425 536 903 
   Lucas Bramwell                  +44 (0) 7939 694 437 
                                    
   Liberum Capital                  
   Gillian Martin / Owen Matthews  +44 (0) 20 3100 2000 

    
    
    LEI: 21380073LDXHV2LP5K50
    
    

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   ISIN:          GB00BWD24154
   Category Code: MSCM
   TIDM:          AEWU
   LEI Code:      21380073LDXHV2LP5K50
   Sequence No.:  100619
   EQS News ID:   1187871


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:alex.short@eu.aew.com
   2. mailto:nicki.gladstone-ext@eu.aew.com
   3. mailto:AEW@tbcardew.com


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