9 Oct 2020 07:01
Hibernia REIT plc (HBRN) Hibernia REIT Rent Update - October 2020 09-Oct-2020 / 07:00 GMT/BST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Hibernia REIT plc Rent Update Hibernia REIT plc ("Hibernia" or "the Group") today provides an update on rent collection following the start of the quarter ending 31 December 2020 (Q3 FY21). Rent collection Commercial rent (c. 90% of Group contracted rent) Our buildings remain open and we continue to provide support to our tenants where necessary. The table below summarises the position at close of business on 8 October 2020: 97% of rent for the quarter ending 31 December 2020 has been received or is on agreed monthly payment plans. The proportion of rent received within seven days of the gale day is similar to the previous two quarters.
* Due to be paid in full by July 2021 Residential rent (c. 10% of Group contracted rent) We also continue to assist our residential tenants as necessary. At close of business on 8 October 2020 98% of contracted rent for the month had been received and the occupancy rate of our residential units was 95%. At the same point in August and September, respectively, 94% and 96% of that month's contracted rent had been received and the occupancy rate was 95% in both cases. We have now received over 98% of August rent and over 99% of September rent. Share buyback programme To date we have repurchased 11.4m shares for total consideration of €12.2m under the €25m share buyback programme announced on 7 August 2020, representing an average purchase price of €1.07 per share.
Upcoming reporting Our interim results for the six months ended 30 September 2020 will be released on 17 November 2020. We have provided an update on rent collection early in each of the three quarters that has started since the onset of the COVID-19 pandemic in Ireland. As can be seen from the table above and our previous announcements, the Group's rent collection statistics have remained robust. In future we intend to revert to our normal, pre-COVID reporting cycle unless our rent collection rates are materially different to current trends. ENDS Contacts: Hibernia REIT plc +353 1 536 9100 Kevin Nowlan, Chief Executive OfficerTom Edwards-Moss, Chief Financial Officer Murray Consultants Doug Keatinge: +353 86 037 4163, dkeatinge@murraygroup.ie Andrew Smith: +353 83 076 5717, asmith@murraygroup.ie About Hibernia Hibernia REIT plc is an Irish Real Estate Investment Trust ("REIT"), listed on Euronext Dublin and the London Stock Exchange. Hibernia owns and develops property and specialises in Dublin city centre offices. |
| ISIN: | IE00BGHQ1986 |
| Category Code: | MSCU |
| TIDM: | HBRN |
| LEI Code: | 635400MHRA4QVVFTON18 |
| OAM Categories: | 2.2. Inside information |
| Sequence No.: | 85656 |
| EQS News ID: | 1139876 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.