Brief: TINC Comm Partners With Macquarie Capital

Tinc NV

19/05/2020 06:55

May 19 (Reuters) - TINC Comm VA  TINCC.BR :
    * ENTERED INTO A PARTNERSHIP WITH MACQUARIE CAPITAL
ACCORDING TO
WHICH TINC WILL HOLD A MINORITY ECONOMIC INTEREST IN AN IRISH
PUBLIC PRIVATE PARTNERSHIP (PPP) OF SOCIAL HOUSING FACILITIES IN
THE DUBLIN REGION (IRELAND)
    * THE € 120 MILLION PROJECT IS AN AVAILABILITY-BASED PPP
WITH A 25
YEAR CONTRACT TERM CONSISTING OF 6 SOCIAL HOUSING LOCATIONS (534
UNITS) ALL CLOSE TO DUBLIN ON THE EAST COAST OF IRELAND
    * TINC’S INVESTMENT COMMITMENT OF IN TOTAL CA. € 16 MILLION
WILL
BE FUNDED AFTER AVAILABILITY OF THE PROJECT
    * STRONG BALANCE SHEET AND LIQUIDITY POSITION: DEBT FREE AND
SUFFICIENT CASH TO COVER ALL OUTSTANDING CONTRACTUAL INVESTMENT
COMMITMENTS
    * AVAILABILITY OF PROJECT IS SCHEDULED BY 2021, AFTER WHICH
TINC’S
MINORITY ECONOMIC INTEREST WILL BECOME MAJORITY INTEREST SUBJECT
TO CONTRACTUALLY AGREED PARAMETERS
    * DOES NOT EXPECT THE COVID-19 CRISIS TO HAVE A MATERIAL
IMPACT ON
THE ANTICIPATED CASH FLOWS FROM ITS DIVERSIFIED INVESTMENT
PORTFOLIO
    * CONFIRMS THE PROJECTED SHAREHOLDER DISTRIBUTION OF € 0.51
PER
SHARE FOR THE CURRENT FINANCIAL YEAR

Source text for Eikon:  ID:nNDL9X3WST 
Further company coverage:  TINCC.BR 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7785110;))