Brief: Arvida Group Says Development Guidance For Fy21 Onwards Withdrawn

Arvida

27/03/2020 06:13

March 27 (Reuters) - Arvida Group Ltd  ARV.NZ :
    * DEVELOPMENT GUIDANCE FOR FY21 ONWARDS IS WITHDRAWN
    * ALL VILLAGES AND AGED CARE CENTRES ARE CLASSIFIED AS AN
ESSENTIAL SERVICE
    * CLOSURE OF CONSTRUCTION SITES WILL IMPACT DELIVERY
TIMEFRAMES OF
FUTURE DEVELOPMENT ACTIVITIES
    * EXPECT JUST UNDER 400 SETTLEMENTS TO BE COMPLETED IN FY20
    * GOVERNMENT'S EMERGENCY MEASURES WILL SIGNIFICANTLY
RESTRICT
SALES ACTIVITY OVER COMING WEEKS
    * SALE OF OCCUPATION RIGHTS IN SECOND HALF OF MARCH HAVE
BEEN
IMPACTED
    * NOW SUBSTANTIVELY AGREED TERMS & PRICING FOR REFINANCE OF
EXISTING BANK DEBT FACILITIES WITH ANZ BANK NEW ZEALAND, BANK OF
NEW ZEALAND
    * TOTAL OF 209 NEW UNITS HAVE BEEN DELIVERED IN FY20
FINANCIAL
YEAR

Source text for Eikon:  ID:nNZS809da 
Further company coverage:  ARV.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))