REG - Mailbox REIT PLC - Update on debt discussions

FTI ConsultingAnnouncement

25/04/2023 08:15

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RNS Number : 2945X  Mailbox REIT PLC  25 April 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) NO 596/2014 (AS IT FORMS PART OF DOMESTIC UK
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018).

 

 

Mailbox REIT Plc

("Mailbox REIT" or the "Company")

 

Update on debt discussions

 

Further to the Company's announcement of 23 January 2023 regarding the LTV
covenant of the loan secured against the Mailbox, Mailbox REIT Plc (IPSX
ticker: MBOX) continues to progress a number of avenues to resolve the
issue.  The Company remains in constructive discussions with the lending
syndicate, which has now reserved its rights in relation to the facility
following the loan becoming in default as of 20 April 2023.

 

The Company will update shareholders further in due course.

 

At an operational level, Mailbox, as a prime regional office-led, mixed-use
asset, continues to perform well and in line with the approved asset
management plan, with occupancy at 95% (by floor area), over £11 million of
annualised income from a diversified mix of high-quality tenants and continued
strong rent collection of over 96% for the March quarter.

 

ENQUIRIES

Mailbox REIT PLC

Stephen Barter - Chairman              via FTI Consulting below

 

M7 Real Estate Ltd

Richard
Croft
+44 (0) 20 3657 5500

 

WH Ireland (Lead Advisor &

Corporate Broker)                             +44
(0) 20 7220 1666

Chris Hardie

 

FTI Consulting (Communications

Adviser)
   +44 (0) 20 3727 1000

Richard Sunderland / Eve Kirmatzis   MailboxREIT@FTIConsulting.com

 

Alter Domus (UK) Limited

(Company Secretary)                          +44 (0)
207 645 4800

 

The Company's ISIN is GB00BM9BWM32.

 

Further information on Mailbox REIT plc is available at
www.themailboxreit.com.

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