REG - Helical PLC - WeWork Update

HelicalAnnouncement

01/11/2023 12:30

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RNS Number : 0708S  Helical PLC  01 November 2023

1 November 2023

 

HELICAL PLC  ("Helical" or the "Group")

 

WeWork Update

 

Following recent press coverage regarding WeWork, Helical confirms that last
Friday, the 27 October, it exercised its right to forfeit the individual
leases for six floors at The Bower, Old Street, following non-payment of rent
for the September quarter.

 

Subsequently, Helical has entered into a short-term licence arrangement with
WeWork, who have re-occupied the building, with Helical having received a fee
equivalent to the whole of the September quarter's rent and service charge due
under the terms of the previous contractual arrangements.

 

Helical is working on next steps for the space and will provide an update when
the half year results are announced on 22 November.

 

For further information, please contact:

 

Helical
plc
020 7629 0113

Gerald Kaye/ Tim Murphy

 

FTI
Consulting
020 3727 1000

Dido Laurimore/ Richard Gotla

schelical@fticonsulting.com (mailto:schelical@fticonsulting.com)

 

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