Brief: Centurion Corporation To Offer ‍Early Lease Termination Policy For Student Accommodation Portfolio In UK

Centurion

20/04/2020 15:59

April 20 (Reuters) - Centurion Corporation Ltd  CNCL.SI :
    * CENTURION CORPORATION LTD- TO OFFER STUDENT-RESIDENTS OF
ITS
PBSA PROPERTIES IN UK AN OPTION TO EARLY TERMINATE THEIR
REMAINING CONTRACTED LEASES
    * CENTURION CORPORATION LTD- EXPECTS A LOWER OCCUPANCY RATE
AT
PBSA PROPERTIES IN UK FOR REMAINDER OF AY19-20 FROM 1 MAY
THROUGH END OF AUGUST 2020
    * CENTURION CORPORATION- BOARD IS OF VIEW EARLY TERMINATION
OF
LEASES HAS NO EFFECT ON SUSTAINABLE OPERATING CAPACITY OF GROUP
    * CENTURION CORPORATION - ANTICIPATES REDUCTION IN REVENUE
OF
BETWEEN GBP3 MILLION TO GBP5 MILLION FOR 1 MAY THROUGH END OF
AUG 2020
    * CENTURION CORPORATION LTD- THERE HAS BEEN NO IMPACT ON
FINANCIAL
OCCUPANCY OF GROUP'S PBWA PORTFOLIO IN SINGAPORE
    * CENTURION CORPORATION LTD- WITH EFFECT FROM 1 MAY 2020,
DIRECTORS WILL TAKE A VOLUNTARY 15% REDUCTION IN DIRECTORS' FEES
    * CENTURION CORPORATION LTD-  WITH EFFECT FROM 1 MAY 2020
SENIOR
MANAGEMENT STAFF OF GROUP IN SINGAPORE WILL TAKE A PAY CUT
RANGING FROM 10% TO 15%
    * CENTURION CORPORATION LTD-  IN MALAYSIA, GROUP'S PBWA
OPERATIONS
REMAIN STABLE, AND NO IMPACT IS EXPECTED ON FINANCIAL OCCUPANCY
OF GROUP'S PORTFOLIO

Source text for Eikon:  ID:nHKS7fy2P5 
Further company coverage:  CNCL.SI 

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