Worsley Investors Ltd - focused on providing attractive level of absolute long-term return, largely through capital appreciation and then exit of undervalued securities - Confirms receipt of full rental due from January 1 to April 30 for the Curno cinema lease to Italian cinema operator UCI Italia Spa.
Due to cinemas being closed in Italy due to a second wave of Covid-19 since October, Worsley noted two effects on the Curno asset: Frustrating its ability to conduct and conclude a normal realisation process and cutting the revenue flows for Worsley's tenant UCI, which had sought a further renegotiation of 2021 rent, none of which had been paid beforehand.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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Worsley Inv Ltd (WINV)